THE CONDO BOOK PROJECT

232 Adelphi Street Condominium

232 Adelphi Street, Brooklyn, NY 11205

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Overview

Units
12 residential
Subway
7 min walk to Clinton-Washington Avs GFulton St G, 9 min
Principals
Salomon Cojab
Average $/sf
$1,635Homes in Schedule A, as first offered
Common charges
$514–$1,419 a monthSponsor's first-year estimate in Schedule A, July 1, 2025 - June 30, 2026
Offering price
$27 million total

The sponsor of record is 232 Adelphi Realty Co LLC, represented by Starr Associates, LLP. The offering plan runs 478 pages. The sponsor has filed 3 amendments, the latest in January 2026. The nearest other condo plan on file is 239 Carlton Avenue Condominium, next door.

Plan CD240350 · Rehab · accepted May 1, 2025 · AG record ↗

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FigureThis building1744 Park Place28 units · 1.5 miaccepted 2025166 Washington37 units · 0.3 miaccepted 2025
Common ChargesPer Square Foot / Month$0.68Highest$0.35$0.53
Average Offering PricePer Apartment$2.23MAbove peers$2.13M$1.31M
Average PricePer Square Foot$1,635In line$1,686$1,501
Property TaxesPer Square Foot / Month$0.98Highest$0.22$0.44
Average Unit SizeSquare Feet1,364 SFLarger1,261 SF875 SF

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Unit mix, closings, budgets, finishes and the team, against 744 Park Place and 166 Washington, 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 closed100% of the homes in Schedule A12 of 12
Closing prices vs. Schedule A12 homes: $26,880,409 at closing against $26,775,000 in Schedule A (p. 53)+0.4%
Average closing price12 homes, on their Schedule A square feet$1,642 / SF
Closingsfirst and latest recordedOct 27, 2025 – May 14, 2026

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 12 closings
HomeRecordedClosing priceSchedule ADifference
11Oct 27, 2025$1,937,675$1,850,000 p. 53+4.7%
6Oct 28, 2025$1,355,000$1,395,000 p. 53−2.9%
10Oct 28, 2025$4,083,000$4,000,000 p. 53+2.1%
3Nov 3, 2025$1,683,113$1,650,000 p. 53+2%
9Nov 5, 2025$4,157,453$3,850,000 p. 53+8%
5Nov 12, 2025$1,207,404$1,395,000 p. 53−13.4%
12Nov 12, 2025$2,316,519$2,270,000 p. 53+2%
8Dec 4, 2025$2,966,108$2,895,000 p. 53+2.5%
7Jan 15, 2026$2,335,000$2,400,000 p. 53−2.7%
4Jan 27, 2026$1,784,938$1,850,000 p. 53−3.5%
2May 12, 2026$1,629,200$1,625,000 p. 53+0.3%
1May 14, 2026$1,425,000$1,595,000 p. 53−10.7%

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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
232 Adelphi Realty Co LLC
Principals
Salomon Cojab
Tax estimate
Metropolitan Realty ExemptionsPrepared the first-year real estate tax projection
Construction lender
Israel Discount Bank of New York$10.9 million recorded

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

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