THE CONDO BOOK PROJECT

26 East 19th Street Condominium

26 East 19th Street, Brooklyn, NY 11226

Overview

Units
26 residential
Subway
2 min walk to Church Av B QParkside Av Q, 10 min
Principals
Harry Einhorn
Average $/sf
$930Homes in Schedule A, as first offered
Common charges
$268–$748 a monthSponsor's first-year estimate in Schedule A, March 1, 2018 - February 28, 2019
Offering price
$16.9 million total $15.9 million when first offered

The sponsor of record is 19th Plaza LLC, represented by The Law Office Of Jay Lichtman, P.C.. The offering plan runs 329 pages. The sponsor has filed 3 amendments, the latest in September 2018. The nearest other condo plan on file is 15 East 19th Street Condominium, next door.

Plan CD170243 · New · accepted Feb 7, 2018 · AG record ↗

Compare

FigureThis building1Cypress214 units · 0.8 miaccepted 2018554 4th340 units · 2 miaccepted 2017
Common ChargesPer Square Foot / Month$0.68Above peers$0.47$0.64
Average Offering PricePer Apartment$613,385Lowest$970,429$742,079
Average PricePer Square Foot$930In line$1,001$883
Property TaxesPer Square Foot / Month$0.05Lowest$0.88$0.56
Average Unit SizeSquare Feet660 SFSmallest970 SF839 SF

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Unit mix, closings, budgets, finishes and the team, against Cypress and 554 4th, 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 A26 of 26
Closing prices vs. Schedule A26 homes: $17,009,230 at closing against $15,948,000 in Schedule A (p. 30)+6.7%
Average closing price26 homes, on their Schedule A square feet$992 / SF
Closingsfirst and latest recordedAug 9, 2018 – Jan 22, 2019

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 26 closings
HomeRecordedClosing priceSchedule ADifference
3AAug 9, 2018$661,988$615,000 p. 30+7.6%
5BAug 10, 2018$666,023$640,000 p. 30+4.1%
2BAug 13, 2018$595,676$565,000 p. 30+5.4%
2AAug 14, 2018$610,057$575,000 p. 30+6.1%
3DAug 15, 2018$585,619$575,000 p. 30+1.8%
6BAug 20, 2018$675,000$665,000 p. 30+1.5%
4AAug 21, 2018$665,000$640,000 p. 30+3.9%
3BAug 22, 2018$631,440$595,000 p. 30+6.1%
5CAug 22, 2018$672,045$605,000 p. 30+11.1%
1AAug 27, 2018$404,711$375,000 p. 30+7.9%
1CAug 28, 2018$560,038$499,000 p. 30+12.2%
1BAug 30, 2018$481,775$445,000 p. 30+8.3%
6CAug 30, 2018$705,378$650,000 p. 30+8.5%
4CSep 5, 2018$661,863$590,000 p. 30+12.2%
7ASep 6, 2018$965,000$950,000 p. 30+1.6%
2CSep 14, 2018$590,585$555,000 p. 30+6.4%
7CSep 17, 2018$720,000$675,000 p. 30+6.7%
5DSep 18, 2018$680,000$605,000 p. 30+12.4%
6ASep 20, 2018$967,463$950,000 p. 30+1.8%
4BSep 21, 2018$651,680$620,000 p. 30+5.1%
7BSep 26, 2018$699,000$685,000 p. 30+2%
3CSep 27, 2018$620,000$575,000 p. 30+7.8%
2DOct 9, 2018$565,129$555,000 p. 30+1.8%
4DOct 25, 2018$672,170$590,000 p. 30+13.9%
5AOct 25, 2018$702,593$655,000 p. 30+7.3%
1DJan 22, 2019$599,000$499,000 p. 30+20%

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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
19th Plaza LLC
Principals
Harry Einhorn
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection

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

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