THE CONDO BOOK PROJECT

286 1st Street Condominium

286 1st Street, Brooklyn, NY 11215

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Overview

Units
3 residential
Subway
5 min walk to Union St R4 Av-9 St F G R, 10 min
Principals
Claire Wright, Thomas Panitz
Average $/sf
$1,490Homes in Schedule A, as first offered
Common charges
$443–$1,025 a monthSponsor's first-year estimate in Schedule A, From January 1, 2025 Through December 31, 2025
Offering price
$6.97 million total $6.88 million when first offered

The sponsor of record is 286 1st St LLC, represented by Marcus Attorneys, Pllc. The offering plan runs 346 pages. The sponsor has filed 1 amendment, the latest in March 2025. The nearest other condo plan on file is 323 Second Street Condominium, next door.

Plan CD240159 · Rehab · accepted Oct 31, 2024 · AG record ↗

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FigureThis building1668 Baltic23 units · 0.4 miaccepted 2024295 12th32 units · 0.5 miaccepted 2025
Common ChargesPer Square Foot / Month$0.50Highest$0.28$0.40
Average Offering PricePer Apartment$2.29MBelow peers$2.84M$2.35M
Average PricePer Square Foot$1,490Below peers$1,554$1,599
Property TaxesPer Square Foot / Month$0.27In line$0.24$0.27
Average Unit SizeSquare Feet1,541 SFIn line1,826 SF1,470 SF

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Unit mix, closings, budgets, finishes and the team, against 668 Baltic and 295 12th, 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 A3 of 3
Closing prices vs. Schedule A3 homes: $7,102,294 at closing against $6,885,000 in Schedule A (p. 37)+3.2%
Average closing price3 homes, on their Schedule A square feet$1,537 / SF
Closingsfirst and latest recordedMay 5, 2025 – May 20, 2025

Sales recorded with the Department of Finance (ACRIS) through Apr 30, 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 3 closings
HomeRecordedClosing priceSchedule ADifference
2May 5, 2025$1,807,394$1,735,000 p. 37+4.2%
1May 8, 2025$2,545,625$2,500,000 p. 37+1.8%
3May 20, 2025$2,749,275$2,650,000 p. 37+3.7%

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Closings are for subscribers

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
286 1st St LLC
Principals
Claire Wright, Thomas Panitz
Tax estimate
Metropolitan Realty ExemptionsPrepared the first-year real estate tax projection

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

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