THE CONDO BOOK PROJECT

2493 Ocean Avenue Condominium

2493 Ocean Avenue, Brooklyn, NY 11235

Overview

Units
6 residential · 5 parking
Subway
7 min walk to Avenue U QNeck Rd Q, 11 min
Principals
Oleg Krasnitsky, Boris Tanskiy
Offering price
$4.62 million total $4.26 million when first offered

The sponsor of record is 2493 Ocean Avenue LLC, represented by Law Office Of Michael Michael, Pllc. The offering plan runs 193 pages. The sponsor has filed 3 amendments, the latest in July 2018. The nearest other condo plan on file is Aster Garden Condominium, next door.

Plan CD150241 · New · accepted May 6, 2016 · AG record ↗

Compare

FigureThis building12424 Ocean212 units · 0.1 miaccepted 201573 Bay 47th39 units · 2 miaccepted 2017
Average Offering PricePer Apartment$709,833Below peers$715,833$800,556

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Unit mix, closings, budgets, finishes and the team, against 2424 Ocean and 73 Bay 47th, 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 the plan6 of 6
Closingsfirst and latest recordedMar 22, 2017 – Sep 19, 2019

Sales recorded with the Department of Finance (ACRIS) through Dec 31, 2024: 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 11 closings
HomeRecordedClosing priceSchedule ADifference
5AMar 22, 2017$493,818——
PS5Mar 22, 2017$35,490——
4AMar 31, 2017$785,000one deed, 2 homes——
PS2Mar 31, 2017$785,000one deed, 2 homes——
2AApr 13, 2017$763,688one deed, 2 homes——
PS4Apr 13, 2017$763,688one deed, 2 homes——
6AApr 14, 2017$353,886——
3AApr 24, 2017$799,326one deed, 2 homes——
PS3Apr 24, 2017$799,326one deed, 2 homes——
PHSep 20, 2018$860,421——
PS1Sep 19, 2019$30,420——

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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
2493 Ocean Avenue LLC
Principals
Oleg Krasnitsky, Boris Tanskiy
Tax estimate
MGNY Consulting Corp.Prepared the first-year real estate tax projection

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

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