THE CONDO BOOK PROJECT

280 St. Marks Avenue Condominium

280 St. Marks Avenue, Brooklyn, NY 11238

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Overview

Units
32 residential · 32 parking · 32 storage
Subway
8 min walk to Grand Army Plaza 2 37 Av B Q, 8 min
Developer
DNA Development LLC
Principals
David Berger
Offering price
$71.6 million total $62.3 million when first offered

The sponsor of record is Escorial 280 Sma, LLC C/O Dna Development LLC, represented by Herrick Feinstein LLP. The offering plan runs 395 pages. The sponsor has filed 25 amendments, the latest in October 2018. The nearest other condo plan on file is 272 St. Marks Avenue Condominium, next door.

Plan CD150141 · New · accepted Sep 9, 2015 · AG record ↗

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FigureThis building1Six Ten Warren231 units · 0.8 miaccepted 2016Waterbridge 47325 units · 2 miaccepted 2014
Average Offering PricePer Apartment$1.95MHighest$1.51M$1.54M

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Unit mix, closings, budgets, finishes and the team, against Six Ten Warren and Waterbridge 47, 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
Escorial 280 Sma, LLC C/O Dna Development LLC
Developer
DNA Development LLC
Principals
David Berger
Tax estimate
Tuchman Korngold Weiss Liebman Gelles LLPPrepared the first-year real estate tax projection

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

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