THE CONDO BOOK PROJECT

257 Throop Avenue Condominium

257 Throop Avenue, Brooklyn, NY 11206

Overview

Units
4 residential
Subway
8 min walk to Myrtle-Willoughby Avs GMyrtle Av J M Z, 10 min
Developer
Blackbird Development NYC
Principals
Omer Avital, Yoav Adereth
Average $/sf
$882Homes in Schedule A, as first offered
Common charges
$381–$577 a monthSponsor's first-year estimate in Schedule A, January 1, 2021 - December 31, 2021
Offering price
$3.66 million total $4.6 million when first offered

The sponsor of record is 257 Throop Holdings LLC, represented by Eial Girtz P.C.. The offering plan runs 262 pages. The sponsor has filed 2 amendments, the latest in January 2022. The nearest other condo plan on file is 231 Vernon Condominium, next door.

Plan CD190092 · New · accepted Aug 7, 2020 · AG record ↗

Compare

FigureThis building1541 Lafayette23 units · 0.6 miaccepted 202054 Himrod36 units · 1 miaccepted 2020
Common ChargesPer Square Foot / Month$0.45In line$0.50$0.33
Average Offering PricePer Apartment$914,750In line$1.07M$616,500
Average PricePer Square Foot$882Below peers$1,033$915
Property TaxesPer Square Foot / Month$0.43In line$0.41$0.87
Average Unit SizeSquare Feet1,038 SFIn line1,038 SF804 SF

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Unit mix, closings, budgets, finishes and the team, against 541 Lafayette and 54 Himrod, 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 A4 of 4
Closing prices vs. Schedule A4 homes: $3,428,414 at closing against $3,659,000 in Schedule A (p. 37)−6.3%
Average closing price4 homes, on their Schedule A square feet$826 / SF
Closingsfirst and latest recordedDec 9, 2021 – Apr 26, 2022

Sales recorded with the Department of Finance (ACRIS) through Jul 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 4 closings
HomeRecordedClosing priceSchedule ADifference
1Dec 9, 2021$930,000$995,000 p. 37−6.5%
2Dec 14, 2021$775,000$850,000 p. 37−8.8%
4Mar 9, 2022$975,000$999,000 p. 37−2.4%
3Apr 26, 2022$748,414$815,000 p. 37−8.2%

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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
257 Throop Holdings LLC
Developer
Blackbird Development NYC
Principals
Omer Avital, Yoav Adereth
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
White Oak Projects$1.9 million loan stated in the plan

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

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