THE CONDO BOOK PROJECT

2615-2621 East 17th Street Condominium

2615-2621 East 17th Street, Brooklyn, NY 11235

Overview

Units
29 residential · 21 parking · 1 commercial
Subway
3 min walk to Sheepshead Bay B QNeck Rd Q, 12 min
Principals
Abraham Lokshin
Average $/sf
$567Homes in Schedule A, as first offered
Offering price
$24 million total

The sponsor of record is 2615-2621 East 17th Street Realty LLC, represented by Harold Gruber, P.C.. The offering plan runs 228 pages. The sponsor has filed 3 amendments, the latest in November 2007. The nearest other condo plan on file is 1702 Avenue Z Condo, next door.

Plan CD050668 · New · accepted Jun 14, 2006 · AG record ↗

Compare

FigureThis building1Emmons Avenue243 units · 1 miaccepted 2007Brighton Tower II338 units · 0.8 miaccepted 2008
Common ChargesPer Square Foot / Month$0.17In line$0.36$0.13
Average Offering PricePer Apartment$626,103In line$631,253$586,452
Average PricePer Square Foot$567In line$700$462
Average Unit SizeSquare Feet1,104 SFIn line902 SF1,268 SF

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Unit mix, closings, budgets, finishes and the team, against Emmons Avenue and Brighton Tower II, 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 A29 of 29
Closing prices vs. Schedule A29 homes: $14,637,808 at closing against $18,157,000 in Schedule A (p. 42)−19.4%
Average closing price29 homes, on their Schedule A square feet$457 / SF
Closingsfirst and latest recordedMar 13, 2007 – Mar 6, 2009

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 29 closings
HomeRecordedClosing priceSchedule ADifference
3CMar 13, 2007$660,000$798,000 p. 42−17.3%
5BMar 14, 2007$310,387$415,000 p. 42−25.2%
5CMar 14, 2007$682,228$813,000 p. 42−16.1%
5AMar 16, 2007$544,764$700,000 p. 42−22.2%
3BMar 22, 2007$339,757$408,000 p. 42−16.7%
7CApr 16, 2007$536,618$708,000 p. 42−24.2%
6DApr 18, 2007$544,764$725,000 p. 42−24.9%
7AApr 18, 2007$573,275$712,000 p. 42−19.5%
3EApr 19, 2007$344,760$399,000 p. 42−13.6%
4BApr 20, 2007$381,214$408,000 p. 42−6.6%
7EApr 20, 2007$491,790$648,000 p. 42−24.1%
7DApr 24, 2007$344,760$405,000 p. 42−14.9%
6CApr 26, 2007$656,771$827,000 p. 42−20.6%
7BMay 1, 2007$626,224$794,000 p. 42−21.1%
3DMay 8, 2007$568,754$699,000 p. 42−18.6%
6BMay 8, 2007$375,180$423,000 p. 42−11.3%
4AMay 17, 2007$524,373$688,000 p. 42−23.8%
6AAug 7, 2007$568,184$713,000 p. 42−20.3%
5DAug 16, 2007$534,581$712,000 p. 42−24.9%
6ESep 24, 2007$344,760$414,000 p. 42−16.7%
3FNov 5, 2007$534,581$680,000 p. 42−21.4%
3AApr 17, 2008$570,220$688,000 p. 42−17.1%
4CMay 6, 2008$711,248$798,000 p. 42−10.9%
6FJun 13, 2008$524,399$704,000 p. 42−25.5%
5FAug 22, 2008$544,764$692,000 p. 42−21.3%
4ENov 6, 2008$329,550$399,000 p. 42−17.4%
4DNov 25, 2008$565,129$699,000 p. 42−19.2%
5EDec 2, 2008$349,830$408,000 p. 42−14.3%
4FMar 6, 2009$554,946$680,000 p. 42−18.4%

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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
2615-2621 East 17th Street Realty LLC
Principals
Abraham Lokshin
Tax estimate
Moseson & AssociatesPrepared the first-year real estate tax projection

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

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