THE CONDO BOOK PROJECT

290 13th Street Condominium

290 13th Street, Brooklyn, NY 11215

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Overview

Units
4 residential
Subway
7 min walk to 4 Av-9 St F G RProspect Av R, 8 min
Principals
Michael Kremerman
Average $/sf
$791Homes in Schedule A, as first offered
Common charges
$260–$456 a monthSponsor's first-year estimate in Schedule A, January 1,2010-December 31,2010
Offering price
$4.4 million total

The sponsor of record is 290 13th Street LLC, represented by Harold L. Gruber, P.C.. The offering plan runs 256 pages. The sponsor has filed 2 amendments, the latest in May 2013. The nearest other condo plan on file is 269-271 14th Street Condominium, next door.

Plan CD080657 · New · accepted Oct 16, 2009 · AG record ↗

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FigureThis building1392 Bergen23 units · 1.2 miaccepted 2011206 Prospect Place34 units · 1.2 miaccepted 2011
Common ChargesPer Square Foot / Month$0.22In line$0.19$0.29
Average Offering PricePer Apartment$1.1MIn line$1.03M$1.18M
Average PricePer Square Foot$791In line$726$938
Property TaxesPer Square Foot / Month$0.02Lowest$0.10$0.17
Average Unit SizeSquare Feet1,391 SFIn line1,423 SF1,262 SF

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Unit mix, closings, budgets, finishes and the team, against 392 Bergen and 206 Prospect Place, 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: $4,261,376 at closing against $4,400,000 in Schedule A (p. 21)−3.2%
Average closing price4 homes, on their Schedule A square feet$766 / SF
Closingsfirst and latest recordedFeb 7, 2014 – Mar 5, 2014

Sales recorded with the Department of Finance (ACRIS) through Oct 31, 2023: 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
4Feb 7, 2014$982,611$1,100,000 p. 21−10.7%
2Feb 10, 2014$977,520$950,000 p. 21+2.9%
1Feb 27, 2014$1,323,725$1,400,000 p. 21−5.4%
3Mar 5, 2014$977,520$950,000 p. 21+2.9%

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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
290 13th Street LLC
Principals
Michael Kremerman
Tax estimate
& Proper Inc.Prepared the first-year real estate tax projection

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

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