THE CONDO BOOK PROJECT

285 Driggs Avenue Condo

285 Driggs Avenue, Brooklyn, NY 11222

Overview

Units
12 residential
Subway
3 min walk to Nassau Av GBedford Av L, 11 min
Principals
Aaron Tyrnauer
Average $/sf
$600Homes in Schedule A, as first offered
Common charges
$145–$422 a monthSponsor's first-year estimate in Schedule A, October 1, 2005
Offering price
$6.95 million total

The sponsor of record is 285 Driggs Avenue LLC, represented by N. C. Caller, P.C.. The offering plan runs 278 pages. The sponsor has filed 7 amendments, the latest in December 2010. The nearest other condo plan on file is 297 Driggs Avenue Condominium, next door.

Plan CD050593 · New · accepted Jun 26, 2006 · AG record ↗

Compare

FigureThis building1Two One Nine Withers212 units · 0.5 miaccepted 2006151-153 Manhattan315 units · 1 miaccepted 2006
Common ChargesPer Square Foot / Month$0.27In line$0.30$0.19
Average Offering PricePer Apartment$522,000Lowest$696,250$621,000
Average PricePer Square Foot$600In line$596$659
Property TaxesPer Square Foot / Month$0.87Highest$0.05$0.01
Average Unit SizeSquare Feet870 SFSmaller1,168 SF943 SF

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Unit mix, closings, budgets, finishes and the team, against Two One Nine Withers and 151-153 Manhattan, 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
285 Driggs Avenue LLC
Principals
Aaron Tyrnauer
Tax estimate
Carl Caller, Esq.Prepared the first-year real estate tax projection

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

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