THE CONDO BOOK PROJECT

273-275 Manhattan Avenue Condominium

273-275 Manhattan Avenue, Brooklyn, NY 11211

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Overview

Units
14 residential
Subway
3 min walk to Graham Av LMetropolitan Av/Lorimer St G L, 5 min
Principals
Albert Gilardian, Alfred Gilardian, Dan Darouvar, Robert Gilardian
Common charges
$191–$335 a monthSponsor's first-year estimate in Schedule A, July 1, 2009 - June 30, 2010
Offering price
$9.5 million total

The sponsor of record is 275 Manhattan Ave. LLC, represented by Harold L. Gruber, P.C.. The offering plan runs 281 pages. The sponsor has filed 6 amendments, the latest in December 2010. The nearest other condo plan on file is 185 Ainslie Street Condominium, next door.

Plan CD060421 · New · accepted Nov 2, 2007 · AG record ↗

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FigureThis building1129 Metropolitan212 units · 0.9 miaccepted 2008365-367 Union314 units · 0.3 miaccepted 2007
Average Offering PricePer Apartment$678,500In line$721,667$528,786

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Unit mix, closings, budgets, finishes and the team, against 129 Metropolitan and 365-367 Union, 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.

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
275 Manhattan Ave. LLC
Principals
Albert Gilardian, Alfred Gilardian, Dan Darouvar, Robert Gilardian
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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