THE CONDO BOOK PROJECT

259 Halsey Street Condominium

259 Halsey Street, Brooklyn, NY 11216

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Overview

Units
8 residential
Subway
6 min walk to Kingston-Throop Avs CNostrand Av A C, 10 min
Principals
Ran Michaeli
Average $/sf
$1,244Homes in Schedule A, as first offered
Common charges
$304–$1,025 a monthSponsor's first-year estimate in Schedule A, July 1, 2025 To June 30, 2026
Offering price
$9.81 million total $8.7 million when first offered

The sponsor of record is 259-261 Halsey St LLC, represented by Eial Girtz, PC. The offering plan runs 306 pages. The sponsor has filed 5 amendments, the latest in January 2026. The nearest other condo plan on file is Diana Condominium, next door.

Plan CD240267 · New · accepted Jan 27, 2025 · AG record ↗

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FigureThis building1184 Hawthorne28 units · 1.9 miaccepted 2025654 Katan Pavilion38 units · 0.6 miaccepted 2025
Common ChargesPer Square Foot / Month$0.54In line$0.62$0.35
Average Offering PricePer Apartment$1.09MAbove peers$1.02M$1.05M
Average PricePer Square Foot$1,244Above peers$1,243$1,149
Property TaxesPer Square Foot / Month$1.08Above peers$1.05$0.40
Average Unit SizeSquare Feet874 SFIn line820 SF910 SF

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Unit mix, closings, budgets, finishes and the team, against 184 Hawthorne and 654 Katan Pavilion, 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 closed75% of the homes in Schedule A6 of 8
Closing prices vs. Schedule A6 homes: $7,073,794 at closing against $6,475,000 in Schedule A (p. 38)+9.2%
Average closing price6 homes, on their Schedule A square feet$1,397 / SF
Closingsfirst and latest recordedDec 29, 2025 – Jun 16, 2026

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 6 closings
HomeRecordedClosing priceSchedule ADifference
2FDec 29, 2025$992,794$945,000 p. 38+5.1%
4FJan 13, 2026$1,195,000$1,095,000 p. 38+9.1%
2RJan 20, 2026$1,050,000$995,000 p. 38+5.5%
3FJan 23, 2026$1,110,000$1,045,000 p. 38+6.2%
3RFeb 25, 2026$1,150,000$1,045,000 p. 38+10%
1RJun 16, 2026$1,576,000$1,350,000 p. 38+16.7%

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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
259-261 Halsey St LLC
Principals
Ran Michaeli
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Manhattan Bridge Capital$3.6 million loan stated in the plan

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

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