THE CONDO BOOK PROJECT

Tiffany Tower Condominiums

20 Tiffany Place, Brooklyn, NY 11231

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Overview

Units
13 residential · 12 parking · 1 commercial
Subway
13 min walk to Bergen St F GCarroll St F G, 14 min
Average $/sf
$757Homes in Schedule A, as first offered
Common charges
$562–$1,434 a monthSponsor's first-year estimate in Schedule A, Beginning July 1, 2006 and Ending June 30, 2007
Offering price
$12.3 million total

The sponsor of record is Tiffany Partners LLC, represented by Marcus Attorneys. The offering plan runs 404 pages. The sponsor has filed 5 amendments, the latest in May 2013. The nearest other condo plan on file is Tiffany Cobble Condominiums, next door.

Plan CD050595 · New · accepted May 19, 2006 · AG record ↗

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FigureThis building1267-273 First29 units · 1.2 miaccepted 2006Verdi On Adelphi314 units · 1.6 miaccepted 2006
Common ChargesPer Square Foot / Month$0.55In line$0.31$0.56
Average Offering PricePer Apartment$901,888In line$1.2M$465,429
Average PricePer Square Foot$757In line$892$682
Average Unit SizeSquare Feet1,192 SFIn line1,339 SF682 SF

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Unit mix, closings, budgets, finishes and the team, against 267-273 First and Verdi On Adelphi, cited to the offering plans. No credit card required.

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How We Got This
  • Comps: the closest Brooklyn plans on size, $/SF and launch date, within 2 miles when possible.
  • Figures: each building's own offering plan, filed with the NY Attorney General. Nothing is estimated.
  • Checked: a price list publishes only when its math adds up, and building pages cite the plan pages.
  • Labels: In line is between the comps; Below/Above peers is past both by up to 15%; Lowest/Highest by more.

Closings Pro

Homes closed100% of the homes in Schedule A13 of 13
Closing prices vs. Schedule A13 homes: $11,765,980 at closing against $11,724,550 in Schedule A (p. 22)+0.4%
Average closing price13 homes, on their Schedule A square feet$759 / SF
Closingsfirst and latest recordedJan 30, 2007 – Jul 19, 2013

Sales recorded with the Department of Finance (ACRIS) through Aug 31, 2026: deeds, or transfer tax filings for a building on leased land, of $10,000 or more. A home's first sale since the plan was filed is the sponsor's closing; resales aren't counted. Closing prices are compared with the same home's Schedule A price, as first offered; a deed covering more than one home isn't compared. Amendments often change prices before a home closes, and a deed that includes parking or storage counts its full price. ACRIS records a sale weeks after closing, so recent contracts don't appear yet. Every building's sales.

All 16 closings
HomeRecordedClosing priceSchedule ADifference
6SJan 30, 2007$875,900$875,900 p. 220%
2NJan 31, 2007$712,000$712,000 p. 220%
5SMar 13, 2007$835,628$820,650 p. 22+1.8%
8Mar 13, 2007$45,705——
3SMar 19, 2007$716,923$713,150 p. 22+0.5%
7SMar 20, 2007$931,150$931,150 p. 220%
4NMar 21, 2007$697,501$715,900 p. 22−2.6%
4SMar 22, 2007$742,304$765,400 p. 22−3%
COMApr 1, 2007$150,000——
3NApr 27, 2007$660,844$682,225 p. 22−3.1%
5NJun 14, 2007$778,640$767,700 p. 22+1.4%
7NJul 20, 2007$887,202$871,300 p. 22+1.8%
2SFeb 25, 2010$780,000$739,850 p. 22+5.4%
2Oct 15, 2010$755,000——
6NOct 15, 2010$755,000$819,500 p. 22−7.9%
PenthouseJul 19, 2013$2,392,888$2,309,825 p. 22+3.6%

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Closings are for subscribers

Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.

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Budget

From our research: The Sponsor's Condo-Creation Fee in NYC · NYC Condo Insurance Costs Are Rising · Condo Supplies Cost per Unit, by Size

Team

Sponsor
Tiffany Partners LLC
Tax estimate
Ben Rottenstein Associates, Inc.Prepared the first-year real estate tax projection
Construction lender
Brooklyn Federal Savings Bank$14.3 million recorded

From our research: Do NYC Developers Rehire the Same Firms?

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