THE CONDO BOOK PROJECT

Edge 11211/22 North 6th St.

22 North 6th Street & 34 North 7th Street, Brooklyn, NY 11211

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Overview

Units
557 residential · 7 commercial
Subway
8 min walk to Bedford Av LMetropolitan Av/Lorimer St G L, 16 min
Developers
Douglaston Development LLC, Velin Ventures, LLC
Principals
Jeffrey E. Levine
Offering price
$521.6 million total $513.1 million when first offered

The sponsor of record is Edge 11211, LLC, represented by Belkin, Burden, Goldman LLP. The offering plan runs 727 pages. The sponsor has filed 25 amendments, the latest in August 2015. The nearest other condo plan on file is 2 Northside Piers Condominium, next door.

Plan CD060840 · New · accepted Feb 7, 2008 · AG record ↗

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FigureThis building12 Northside Piers2270 units · 0 miaccepted 2008Toren3240 units · 2.1 miaccepted 2008
Average Offering PricePer Apartment$921,101Above peers$887,234$642,026

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Unit mix, closings, budgets, finishes and the team, against 2 Northside Piers and Toren, 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
Edge 11211, LLC
Developers
Douglaston Development LLC, Velin Ventures, LLC
Principals
Jeffrey E. Levine
Tax estimate
Leitner LetterPrepared the first-year real estate tax projection

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

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