THE CONDO BOOK PROJECT

Greenmore Condominium

201,203,205 Huron Street, Brooklyn, NY 11222

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Overview

Units
24 residential
Subway
3 min walk to Greenpoint Av GNassau Av G, 13 min
Principals
Daniel Bahrak, Walter Besser
Common charges
$166–$186 a monthSponsor's first-year estimate in Schedule A, June 1, 2008 to May 31, 2009
Offering price
$10.5 million total

The sponsor of record is Huron Street Development, LLC, represented by Rothkrug Rothkrug & Spector, LLP. The offering plan runs 282 pages. The sponsor has filed 6 amendments, the latest in September 2014. The nearest other condo plan on file is Greenpoint Plaza Condominium, next door.

Plan CD080071 · New · accepted Mar 4, 2009 · AG record ↗

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FigureThis building1Greenpoint Plaza215 units · 0 miaccepted 201046 South 2nd323 units · 1.5 miaccepted 2009
Average Offering PricePer Apartment$439,000Below peers$459,733$704,652

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Unit mix, closings, budgets, finishes and the team, against Greenpoint Plaza and 46 South 2nd, 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.

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
Huron Street Development, LLC
Principals
Daniel Bahrak, Walter Besser
Tax estimate
Rothkrug Rothkrug & Spector, LLPPrepared the first-year real estate tax projection

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

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