THE CONDO BOOK PROJECT

2769a East 15th Street Condominium

2769a East 15th Street, Brooklyn, NY 11235

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Overview

Units
6 residential
Subway
5 min walk to Sheepshead Bay B QBrighton Beach B Q, 13 min
Developer
Build R US Corp.
Average $/sf
$774Homes in Schedule A, as first offered
Common charges
$368–$837 a monthSponsor's first-year estimate in Schedule A, July 1, 2021 - June 30, 2022
Offering price
$4.07 million total $3.75 million when first offered

The sponsor of record is 2769 A East 15th St Development LLC, represented by Tsyngauz & Associates, P.C.. The offering plan runs 314 pages. The sponsor has filed 4 amendments, the latest in September 2021. The nearest other condo plan on file is 2788 East 16th Street Condominium, next door.

Plan CD200012 · New · accepted Jul 21, 2020 · AG record ↗

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FigureThis building1179 West End210 units · 0.5 miaccepted 2020Aster Garden310 units · 1.2 miaccepted 2021
Common ChargesPer Square Foot / Month$0.86Highest$0.45$0.54
Average Offering PricePer Apartment$475,000Below peers$830,833$520,500
Average PricePer Square Foot$774Below peers$803$801
Property TaxesPer Square Foot / Month$0.01Lowest$0.06$1.04
Average Unit SizeSquare Feet614 SFSmaller1,035 SF650 SF

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Unit mix, closings, budgets, finishes and the team, against 179 West End and Aster Garden, 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 A6 of 6
Closing prices vs. Schedule A6 homes: $3,097,405 at closing against $2,850,000 in Schedule A (p. 39)+8.7%
Average closing price6 homes, on their Schedule A square feet$841 / SF
Closingsfirst and latest recordedJul 22, 2021 – Sep 21, 2021

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
5AJul 22, 2021$354,900$330,000 p. 39+7.5%
4BJul 23, 2021$381,844$370,000 p. 39+3.2%
4AJul 30, 2021$381,844$330,000 p. 39+15.7%
3Aug 31, 2021$814,600$750,000 p. 39+8.6%
5BAug 31, 2021$400,530$370,000 p. 39+8.3%
6Sep 21, 2021$763,688$700,000 p. 39+9.1%

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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
2769 A East 15th St Development LLC
Developer
Build R US Corp.
Tax estimate
MGNY Consulting Corp.Prepared the first-year real estate tax projection
Construction lender
Ponce Bank$2.3 million loan stated in the plan

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

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