THE CONDO BOOK PROJECT

265 20th Avenue Condominium

265 20th Street, Brooklyn, NY 11216

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Overview

Units
8 residential
Subway
7 min walk to Prospect Av R25 St R, 9 min
Developer
Term Equities
Principals
Keivan Farhadian
Average $/sf
$1,529Homes in Schedule A, as first offered
Common charges
$398–$614 a monthSponsor's first-year estimate in Schedule A, January 1, 2025-December 31, 2025
Offering price
$15.2 million total $15 million when first offered

The sponsor of record is Heights Of Greenwood LLC, represented by The Law Office Of Jay Lichtman, PC. The offering plan runs 348 pages. The sponsor has filed 1 amendment, the latest in December 2024. The nearest other condo plan on file is 272 19th Street Condominium, next door.

Plan CD240099 · New · accepted Jul 23, 2024 · AG record ↗

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FigureThis building1345 Bergen26 units · 1.6 miaccepted 2024353 20th35 units · 0.2 miaccepted 2024
Common ChargesPer Square Foot / Month$0.39Below peers$0.43$1.47
Average Offering PricePer Apartment$1.86MIn line$2.42M$1.57M
Average PricePer Square Foot$1,529In line$1,575$1,420
Property TaxesPer Square Foot / Month$0.84Below peers$1.05$0.92
Average Unit SizeSquare Feet1,215 SFIn line1,535 SF1,109 SF

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Unit mix, closings, budgets, finishes and the team, against 345 Bergen and 353 20th, 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 A8 of 8
Closing prices vs. Schedule A8 homes: $14,130,880 at closing against $14,860,000 in Schedule A (p. 35)−4.9%
Average closing price8 homes, on their Schedule A square feet$1,454 / SF
Closingsfirst and latest recordedMar 7, 2025 – Nov 24, 2025

Sales recorded with the Department of Finance (ACRIS) through Dec 31, 2025: 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 8 closings
HomeRecordedClosing priceSchedule ADifference
2RMar 7, 2025$1,613,926$1,625,000 p. 35−0.7%
3LMar 28, 2025$1,705,000$1,685,000 p. 35+1.2%
4RApr 2, 2025$1,765,969$1,900,000 p. 35−7.1%
2LApr 9, 2025$1,635,000$1,625,000 p. 35+0.6%
3RMay 16, 2025$1,680,000$1,675,000 p. 35+0.3%
1RAug 15, 2025$1,999,985$2,250,000 p. 35−11.1%
1LAug 20, 2025$1,975,000$2,250,000 p. 35−12.2%
4LNov 24, 2025$1,756,000$1,850,000 p. 35−5.1%

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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
Heights Of Greenwood LLC
Developer
Term Equities
Principals
Keivan Farhadian
Tax estimate
RE Tax ServicePrepared the first-year real estate tax projection
Construction lender
Wisdom Equities

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

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