THE CONDO BOOK PROJECT

206 Powers Condominium

206 Powers Street, Brooklyn, NY 11211

Compare

Overview

Units
8 residential
Subway
3 min walk to Grand St LGraham Av L, 4 min
Principals
Anthony Morena
Average $/sf
$1,209Homes in Schedule A, as first offered
Common charges
$223–$550 a monthSponsor's first-year estimate in Schedule A, From December 1, 2020 To November 30, 2021
Offering price
$7.65 million total

The sponsor of record is 206 Powers Management LLC, represented by Marcus Attorneys Pllc. The offering plan runs 358 pages. The sponsor has filed 2 amendments, the latest in November 2021. The nearest other condo plan on file is 196 Powers Street Condominium, next door.

Plan CD200117 · Rehab · accepted Dec 10, 2020 · AG record ↗

Compare

FigureThis building1Steuben & Park26 units · 1.6 miaccepted 2020228 Quincy36 units · 1.9 miaccepted 2020
Common ChargesPer Square Foot / Month$0.47Below peers$0.50$0.54
Average Offering PricePer Apartment$956,750Above peers$856,500$690,833
Average PricePer Square Foot$1,209In line$1,195$1,234
Property TaxesPer Square Foot / Month$0.26Lowest$0.59$0.58
Average Unit SizeSquare Feet791 SFLarger717 SF560 SF

Free Account

See the Full Comp

Unit mix, closings, budgets, finishes and the team, against Steuben & Park and 228 Quincy, cited to the offering plans. No credit card required.

Create a free account
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 A8 of 8
Closing prices vs. Schedule A8 homes: $7,539,793 at closing against $7,654,000 in Schedule A (p. 33)−1.5%
Average closing price8 homes, on their Schedule A square feet$1,191 / SF
Closingsfirst and latest recordedOct 19, 2021 – Jan 28, 2022

Sales recorded with the Department of Finance (ACRIS) through Apr 30, 2023: 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 8 closings
HomeRecordedClosing priceSchedule ADifference
2BOct 19, 2021$1,050,000$999,000 p. 33+5.1%
4BOct 20, 2021$1,183,372$1,199,000 p. 33−1.3%
2AOct 28, 2021$792,500$799,000 p. 33−0.8%
3ANov 2, 2021$817,391$810,000 p. 33+0.9%
3BNov 12, 2021$845,000$850,000 p. 33−0.6%
4ANov 23, 2021$1,270,000$1,299,000 p. 33−2.2%
1ADec 23, 2021$654,922$699,000 p. 33−6.3%
1BJan 28, 2022$926,608$999,000 p. 33−7.2%

Pro

Closings are for subscribers

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

Subscribe to seeAlready a member? Sign in

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
206 Powers Management LLC
Principals
Anthony Morena
Tax estimate
MGNY ConsultingPrepared the first-year real estate tax projection
Construction lender
Patch of Land Lending$1.06 million loan stated in the plan

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

Nearby