THE CONDO BOOK PROJECT

289 Kosciuszko Street Condominium

289 Kosciuszko Street, Brooklyn, NY 11221

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Overview

Units
4 residential
Subway
10 min walk to Bedford-Nostrand Avs GMyrtle-Willoughby Avs G, 11 min
Average $/sf
$1,083Homes in Schedule A, as first offered
Common charges
$283–$719 a monthSponsor's first-year estimate in Schedule A, July 1, 2021 To June 30, 2022
Offering price
$3.59 million total

The sponsor of record is 289 Kosciuszko St LLC, represented by Eial Girtz, PC. The offering plan runs 259 pages. The sponsor has filed 2 amendments, the latest in October 2022. The nearest other condo plan on file is 806 Dekalb Avenue Condominium, next door.

Plan CD200275 · New · accepted May 26, 2021 · AG record ↗

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FigureThis building1773 Greene24 units · 0.3 miaccepted 2021483 Marion33 units · 1.9 miaccepted 2021
Common ChargesPer Square Foot / Month$0.54Highest$0.38$0.27
Average Offering PricePer Apartment$897,500Lowest$1.09M$1.17M
Average PricePer Square Foot$1,083Below peers$1,127$1,087
Property TaxesPer Square Foot / Month$0.78Highest$0.34$0.67
Average Unit SizeSquare Feet829 SFSmaller965 SF1,076 SF

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Unit mix, closings, budgets, finishes and the team, against 773 Greene and 483 Marion, 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 A4 of 4
Closing prices vs. Schedule A4 homes: $3,105,930 at closing against $3,590,000 in Schedule A (p. 35)−13.5%
Average closing price4 homes, on their Schedule A square feet$937 / SF
Closingsfirst and latest recordedMay 16, 2022 – Sep 20, 2022

Sales recorded with the Department of Finance (ACRIS) through Jan 31, 2024: 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 4 closings
HomeRecordedClosing priceSchedule ADifference
3May 16, 2022$679,000$750,000 p. 35−9.5%
4May 18, 2022$875,000$990,000 p. 35−11.6%
2Jun 1, 2022$675,000$750,000 p. 35−10%
1Sep 20, 2022$876,930$1,100,000 p. 35−20.3%

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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
289 Kosciuszko St LLC
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection

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

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