THE CONDO BOOK PROJECT

285 Kingsland Avenue Condominium

285 Kingsland Avenue, Brooklyn, NY 11222

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Overview

Units
5 residential
Subway
11 min walk to Nassau Av GGreenpoint Av G, 18 min
Principals
Saul Mazor
Average $/sf
$1,046Homes in Schedule A, as first offered
Offering price
$3.5 million total

The sponsor of record is 285 Kingsland LLC, represented by Law Offices Of Hershy Itzkowitz, P.C.. The offering plan runs 319 pages. The nearest other condo plan on file is Belvedere Ii Condominium, next door.

Plan CD190276 · Rehab · accepted Apr 21, 2020 · AG record ↗

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FigureThis building1206 Powers28 units · 1 miaccepted 202041 Newel37 units · 0.3 miaccepted 2018
Common ChargesPer Square Foot / Month$0.87Highest$0.47$0.63
Average Offering PricePer Apartment$700,000Lowest$956,750$890,714
Average PricePer Square Foot$1,046Below peers$1,209$1,127
Average Unit SizeSquare Feet669 SFSmallest791 SF790 SF

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Unit mix, closings, budgets, finishes and the team, against 206 Powers and 41 Newel, 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 Kingsland LLC
Principals
Saul Mazor
Tax estimate
Empire Consulting Service, IncPrepared the first-year real estate tax projection
Construction lender
Sharestates Investments$2.73 million recorded

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

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