THE CONDO BOOK PROJECT

Q Condominium

2218 Ocean Avenue, Brooklyn, NY 11229

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Overview

Units
55 residential · 17 parking
Subway
6 min walk to Kings Hwy B QAvenue U Q, 16 min
Developers
Z H L Group Inc., Approved Electrical Contractors, Inc.
Principals
Lev Berenshteyn, Yevgeniy Lvovskiy, Gennadiy Gakman
Offering price
$29.1 million total $21 million when first offered

The sponsor of record is 2218 Ocean Avenue, LLC, represented by Tsyngauz & Associates, P.C.. The offering plan runs 350 pages. The sponsor has filed 4 amendments, the latest in July 2022. The nearest other condo plan on file is 2222-2226 Ocean Avenue Condominium, next door.

Plan CD190422 · New · accepted Sep 2, 2020 · AG record ↗

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FigureThis building1The Avanti245 units · 1.9 miaccepted 2022Kings Place351 units · 1.2 miaccepted 2022
Average Offering PricePer Apartment$382,036Lowest$563,869$662,216

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See the Full Comp

Unit mix, closings, budgets, finishes and the team, against The Avanti and Kings Place, cited to the offering plans. No credit card required, and it also connects to ChatGPT and Claude, with limited access.

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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.

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Closings Pro

Homes closed100% of the homes in the plan55 of 55
Closingsfirst and latest recordedFeb 16, 2022 – Oct 12, 2022

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 73 closings
HomeRecordedClosing priceSchedule ADifference
2GFeb 16, 2022$400,530——
5FFeb 16, 2022$612,000——
4AFeb 17, 2022$661,863one deed, 2 homes——
PS3Feb 17, 2022$661,863one deed, 2 homes——
3BFeb 18, 2022$473,690——
PH1Feb 18, 2022$552,259one deed, 2 homes——
PS14Feb 18, 2022$552,259one deed, 2 homes——
2AFeb 22, 2022$590,585——
6BFeb 22, 2022$485,000——
7DFeb 22, 2022$444,132——
8FFeb 22, 2022$519,000——
2EFeb 23, 2022$325,000——
3GFeb 23, 2022$423,695——
6CFeb 23, 2022$440,000——
3FFeb 24, 2022$640,000one deed, 2 homes——
7BFeb 24, 2022$484,800——
PS7Feb 24, 2022$640,000one deed, 2 homes——
3AFeb 25, 2022$599,000——
5EFeb 25, 2022$360,984——
2FMar 1, 2022$629,279one deed, 2 homes——
PS11Mar 1, 2022$629,279one deed, 2 homes——
4CMar 2, 2022$432,500——
7GMar 2, 2022$449,000——
5AMar 3, 2022$733,140one deed, 3 homes——
7FMar 3, 2022$635,500——
PS4Mar 3, 2022$733,140one deed, 3 homes——
PS5Mar 3, 2022$733,140one deed, 3 homes——
2BMar 4, 2022$465,000——
5CMar 4, 2022$444,905——
6AMar 8, 2022$683,605one deed, 2 homes——
PS2Mar 8, 2022$683,605one deed, 2 homes——
2DMar 9, 2022$420,810——
6DMar 9, 2022$430,000——
8DMar 10, 2022$501,930one deed, 2 homes——
PS15Mar 10, 2022$501,930one deed, 2 homes——
3CMar 11, 2022$433,795——
3DMar 11, 2022$405,000——
6FMar 11, 2022$682,083one deed, 2 homes——
PS10Mar 11, 2022$682,083one deed, 2 homes——
4BMar 15, 2022$470,660——
5GMar 15, 2022$437,000——
8GMar 15, 2022$615,000——
PH6Mar 16, 2022$679,500one deed, 2 homes——
PS12Mar 16, 2022$679,500one deed, 2 homes——
6GMar 17, 2022$439,000——
7AMar 21, 2022$684,619one deed, 2 homes——
8AMar 21, 2022$579,384one deed, 2 homes——
PS8Mar 21, 2022$684,619one deed, 2 homes——
PS17Mar 21, 2022$579,384one deed, 2 homes——
4EMar 22, 2022$342,390——
PH3Mar 23, 2022$475,059——
4GMar 24, 2022$435,815——
3EMar 29, 2022$340,000——
5DMar 29, 2022$429,250——
4DMar 30, 2022$414,100——
2CApr 1, 2022$429,500——
C1Apr 15, 2022$845,000one deed, 2 homes——
PS13Apr 15, 2022$845,000one deed, 2 homes——
8CApr 28, 2022$456,300——
4FApr 29, 2022$647,092one deed, 2 homes——
PS16Apr 29, 2022$647,092one deed, 2 homes——
8BMay 12, 2022$502,153——
7EMay 13, 2022$359,970——
PH2May 16, 2022$518,798——
5BMay 18, 2022$480,000——
6EJun 21, 2022$345,000——
8EJul 13, 2022$408,135one deed, 2 homes——
PS9Jul 13, 2022$408,135one deed, 2 homes——
PH4Jul 20, 2022$354,900one deed, 2 homes——
PS1Jul 20, 2022$354,900one deed, 2 homes——
PH5Aug 8, 2022$499,000——
7CAug 23, 2022$463,500——
PS6Oct 12, 2022$22,980——

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

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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
2218 Ocean Avenue, LLC
Developers
Z H L Group Inc., Approved Electrical Contractors, Inc.
Principals
Lev Berenshteyn, Yevgeniy Lvovskiy, Gennadiy Gakman
Tax estimate
MGNY Consulting Corp.Prepared the first-year real estate tax projection
Construction lender
SBT Advantage Bank$14.5 million loan stated in the plan

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

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