THE CONDO BOOK PROJECT

2873 West 17th Street Condominium

2873 West 17th Street, Brooklyn, NY 11224

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Overview

Units
15 residential · 9 parking · 1 commercial
Subway
5 min walk to Coney Island-Stillwell Av D F N QW 8 St-NY Aquarium F Q, 11 min
Principals
Leonid Gelfand, Vladimir Kindo
Offering price
$9.28 million total

The sponsor of record is 1256 Ocean Avenue LLC, represented by The Law Office Of Jay Lichtman, P.C.. The offering plan runs 380 pages. The sponsor has filed 1 amendment, the latest in March 2021. The nearest other condo plan on file is 2830 West16th Street Condominium, next door.

Plan CD200136 · New · accepted Jan 29, 2021 · AG record ↗

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FigureThis building11721 W. 6th215 units · 2 miaccepted 2021Tower 85311 units · 2 miaccepted 2021
Average Offering PricePer Apartment$618,667Below peers$720,960$714,333

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Unit mix, closings, budgets, finishes and the team, against 1721 W. 6th and Tower 85, 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
1256 Ocean Avenue LLC
Principals
Leonid Gelfand, Vladimir Kindo
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Ponce Bank$11.2 million recorded

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

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