THE CONDO BOOK PROJECT

2381 Ocean Avenue Condominium

2381 Ocean Avenue, Brooklyn, NY 11229

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Overview

Units
19 residential · 1 parking · 1 commercial
Subway
11 min walk to Avenue U QKings Hwy B Q, 12 min
Principals
Aron Kapelyus
Offering price
$15.4 million total

The sponsor of record is 2381 Development, LLC, represented by Harold Gruber, P.C.. The offering plan runs 257 pages. The sponsor has filed 3 amendments, the latest in August 2008. The nearest other condo plan on file is Ocean Avenue Condominiums, next door.

Plan CD050654 · New · accepted Apr 10, 2006 · AG record ↗

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FigureThis building12615-2621 East 17th229 units · 1.1 miaccepted 2006Marina Plaza312 units · 1.5 miaccepted 2005
Average Offering PricePer Apartment$811,895Highest$626,103$685,546

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Unit mix, closings, budgets, finishes and the team, against 2615-2621 East 17th and Marina Plaza, 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
2381 Development, LLC
Principals
Aron Kapelyus
Tax estimate
Moseson & AssociatesPrepared the first-year real estate tax projection

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

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