THE CONDO BOOK PROJECT

Olma Brighton Condominium

2925 Brighton 8th Street, Brooklyn, NY 11235

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Overview

Units
8 residential
Subway
5 min walk to Brighton Beach B QOcean Pkwy Q, 12 min
Principals
Igor Shikhris, Svetlana Shikhris
Offering price
$4 million total

The sponsor of record is Olma Brighton, LLC, represented by Michael & Swerdloff, LLC. The offering plan runs 226 pages. The sponsor has filed 5 amendments, the latest in May 2006. The nearest other condo plan on file is Maol Brighton Condominium, next door.

Plan CD040359 · New · accepted Apr 6, 2005 · AG record ↗

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FigureThis building1Lawn Court Condominium III26 units · 0.2 miaccepted 2004134 West End39 units · 0.4 miaccepted 2006
Average Offering PricePer Apartment$500,000In line$441,667$635,556

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Unit mix, closings, budgets, finishes and the team, against Lawn Court Condominium III and 134 West End, 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
Olma Brighton, LLC
Principals
Igor Shikhris, Svetlana Shikhris
Tax estimate
Barnett MallerPrepared the first-year real estate tax projection

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

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