THE CONDO BOOK PROJECT

210 Bay 7th Street Condominium

210 Bay 7th Street, Brooklyn, NY 11228

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Overview

Units
12 residential · 8 parking
Subway
20 min walk to 18 Av D79 St D, 23 min
Principals
Joseph Serrano, John LaRocca, Joseph LaRocca
Average $/sf
$673Homes in Schedule A, as first offered
Offering price
$9.01 million total

The sponsor of record is 206-210 Bay 7th Street Brooklyn LLC, represented by Paul A. Leff, Esq.. The offering plan runs 278 pages. The sponsor has filed 2 amendments, the latest in March 2022. The nearest other condo plan on file is 213 & 215 Bay 7th Street Condominium, next door.

Plan CD210100 · New · accepted Nov 16, 2021 · AG record ↗

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FigureThis building11567 61st211 units · 1.6 miaccepted 20211571 61st311 units · 1.6 miaccepted 2021
Common ChargesPer Square Foot / Month$0.20Lowest$0.30$0.30
Average Offering PricePer Apartment$724,000Lowest$1.09M$1.09M
Average PricePer Square Foot$673Below peers$721$721
Average Unit SizeSquare Feet1,075 SFSmallest1,511 SF1,511 SF

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Unit mix, closings, budgets, finishes and the team, against 1567 61st and 1571 61st, 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 closed92% of the homes in Schedule A11 of 12
Closing prices vs. Schedule A11 homes: $8,417,067 at closing against $7,999,000 in Schedule A (p. 29, p. 30)+5.2%
Average closing price11 homes, on their Schedule A square feet$709 / SF
Closingsfirst and latest recordedApr 26, 2022 – Jun 29, 2022

Sales recorded with the Department of Finance (ACRIS) through Jun 30, 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 11 closings
HomeRecordedClosing priceSchedule ADifference
1AApr 26, 2022$760,688$769,000 p. 29−1.1%
1CApr 26, 2022$735,331$729,000 p. 29+0.9%
2BApr 27, 2022$731,616$689,000 p. 29+6.2%
1BApr 29, 2022$749,000$729,000 p. 29+2.7%
2AMay 10, 2022$776,078$689,000 p. 29+12.6%
2CMay 16, 2022$730,085$689,000 p. 30+6%
1DMay 18, 2022$824,783$749,000 p. 29+10.1%
3DMay 18, 2022$739,000$739,000 p. 300%
3CJun 16, 2022$793,217$739,000 p. 30+7.3%
3BJun 24, 2022$788,126$739,000 p. 30+6.6%
3AJun 29, 2022$789,144$739,000 p. 30+6.8%

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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
206-210 Bay 7th Street Brooklyn LLC
Principals
Joseph Serrano, John LaRocca, Joseph LaRocca
Tax estimate
MGNY ConsultingPrepared the first-year real estate tax projection

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

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