THE CONDO BOOK PROJECT

256 Putnam Avenue Condominium

256 Putnam Avenue, Brooklyn, NY 11216

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Overview

Units
4 residential
Subway
6 min walk to Nostrand Av A CFranklin Av C S, 8 min
Principals
Michael Biton, Albert Zenou
Average $/sf
$1,448Homes in Schedule A, as first offered
Common charges
$400–$899 a monthSponsor's first-year estimate in Schedule A, July 1, 2025 To June 30, 2026
Offering price
$5.22 million total

The sponsor of record is 256 Putnam Ave, LLC, represented by Eial Girtz, PC. The offering plan runs 296 pages. The sponsor has filed 1 amendment, the latest in November 2025. The nearest other condo plan on file is Margerie Condominium, next door.

Plan CD240226 · New · accepted Apr 8, 2025 · AG record ↗

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FigureThis building1187 Pulaski24 units · 0.8 miaccepted 2026810 Sterling Place34 units · 0.8 miaccepted 2025
Common ChargesPer Square Foot / Month$0.71In line$0.77$0.63
Average Offering PricePer Apartment$1.3MIn line$1.28M$1.84M
Average PricePer Square Foot$1,448In line$1,430$1,464
Property TaxesPer Square Foot / Month$0.38Below peers$1.26$0.44
Average Unit SizeSquare Feet901 SFIn line897 SF1,257 SF

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Unit mix, closings, budgets, finishes and the team, against 187 Pulaski and 810 Sterling 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 closed50% of the homes in Schedule A2 of 4
Closing prices vs. Schedule A2 homes: $2,170,000 at closing against $2,350,000 in Schedule A (p. 40)−7.7%
Average closing price2 homes, on their Schedule A square feet$1,237 / SF
Closingsfirst and latest recordedAug 27, 2025

Sales recorded with the Department of Finance (ACRIS) through Jan 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 2 closings
HomeRecordedClosing priceSchedule ADifference
2Aug 27, 2025$1,183,000$1,250,000 p. 40−5.4%
3Aug 27, 2025$987,000$1,100,000 p. 40−10.3%

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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
256 Putnam Ave, LLC
Principals
Michael Biton, Albert Zenou
Tax estimate
MGNY Consulting Corp.Prepared the first-year real estate tax projection
Construction lenders
Manhattan Bridge Capital, Sapir Funding$3.5 million loan stated in the plan

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

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