THE CONDO BOOK PROJECT

235 North Henry Street Condominium

235 North Henry Street, Brooklyn, NY 11222

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Overview

Units
8 residential
Subway
9 min walk to Nassau Av GGreenpoint Av G, 14 min
Principals
Josh Guberman
Common charges
$508–$647 a monthSponsor's first-year estimate in Schedule A, December 1, 2022 - November 30, 2023
Offering price
$12.3 million total

The sponsor of record is 235 North Henry Street LLC, represented by Starr Associates, LLP. The offering plan runs 425 pages. The sponsor has filed 5 amendments, the latest in November 2024. The nearest other condo plan on file is 240 North Condominium, next door.

Plan CD220026 · Rehab · accepted Dec 16, 2022 · AG record ↗

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FigureThis building189 South 424 units · 1.5 miaccepted 202254 Dupont36 units · 0.9 miaccepted 2023
Average Offering PricePer Apartment$1.53MAbove peers$1.46M$1.27M

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Unit mix, closings, budgets, finishes and the team, against 89 South 4 and 54 Dupont, 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 A8 of 8
Closing prices vs. Schedule A8 homes: $10,565,184 at closing against $12,270,000 in Schedule A (p. 48)−13.9%
Closingsfirst and latest recordedMar 8, 2024 – Dec 10, 2024

Sales recorded with the Department of Finance (ACRIS) through May 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 8 closings
HomeRecordedClosing priceSchedule ADifference
2BMar 8, 2024$1,195,000$1,395,000 p. 48−14.3%
3AMar 8, 2024$1,195,000$1,350,000 p. 48−11.5%
3BMar 8, 2024$1,224,900$1,350,000 p. 48−9.3%
4AMar 20, 2024$1,350,000$1,595,000 p. 48−15.4%
2AMar 26, 2024$1,195,000$1,395,000 p. 48−14.3%
4BJul 22, 2024$1,350,000$1,595,000 p. 48−15.4%
1BSep 26, 2024$1,525,284$1,795,000 p. 48−15%
1ADec 10, 2024$1,530,000$1,795,000 p. 48−14.8%

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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
235 North Henry Street LLC
Principals
Josh Guberman
Tax estimate
Korngold Powers LLPPrepared the first-year real estate tax projection
Construction lender
Wells Fargo BankLender on the mortgage and building loan agreement recorded June 2018 in ACRIS; $3.74 million recorded

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

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