3016 Brighton 5th Street Condominium
3016 Brighton 5th Street, Brooklyn, NY 11235
Overview
- Units
- 16 residential · 11 parking
- Subway
- 3 min walk to Brighton Beach B QOcean Pkwy Q, 8 min
- Developers
- Royal Home Management Inc., Jacobs Development Corp.
- Average $/sf
- $665Homes in Schedule A, as first offered
- Common charges
- $275–$292 a monthSponsor's first-year estimate in Schedule A, July 1, 2019 - June 30, 2020
- Offering price
- $8.29 million total
- Floor plans
- Page 4 of the plan
The sponsor of record is Royal Builders Development LLC, represented by Tsyngauz & Associates, P.C.. The offering plan runs 300 pages. The sponsor has filed 4 amendments, the latest in September 2020. The nearest other condo plan on file is 412 Ocean View Avenue Condominium, next door.
Plan CD180279 · New · accepted Nov 7, 2018 · AG record ↗
Compare
| Figure | This building1 | 888 Coney Island220 units · 1 miaccepted 2019 | Ocean Palace323 units · 1.6 miaccepted 2017 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $0.39In line | $0.40 | $0.29 |
| Average Offering PricePer Apartment | $484,000In line | $675,760 | $415,652 |
| Average PricePer Square Foot | $665In line | $888 | $586 |
| Property TaxesPer Square Foot / Month | $0.05Highest | $0.02 | $0.03 |
| Average Unit SizeSquare Feet | 728 SFIn line | 761 SF | 709 SF |
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Unit mix, closings, budgets, finishes and the team, against 888 Coney Island and Ocean Palace, cited to the offering plans. No credit card required.
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- 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.
Units & Prices
Closings Pro
| Homes closed100% of the homes in Schedule A | 16 of 16 |
| Closing prices vs. Schedule A16 homes: $6,822,694 at closing against $7,744,000 in Schedule A (p. 37) | −11.9% |
| Average closing price16 homes, on their Schedule A square feet | $586 / SF |
| Closingsfirst and latest recorded | Jan 24, 2020 – Jun 9, 2021 |
Sales recorded with the Department of Finance (ACRIS) through Sep 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 16 closings
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| 3A | Jan 24, 2020 | $481,650 | $489,000 p. 37 | −1.5% |
| 4B | Jan 24, 2020 | $465,000 | $499,000 p. 37 | −6.8% |
| 2A | May 15, 2020 | $476,580 | $479,000 p. 37 | −0.5% |
| 2B | Aug 13, 2020 | $405,000 | $479,000 p. 37 | −15.4% |
| 3B | Sep 16, 2020 | $405,600 | $489,000 p. 37 | −17.1% |
| 1A | Nov 18, 2020 | $408,642 | $469,000 p. 37 | −12.9% |
| 2C | Dec 4, 2020 | $405,600 | $479,000 p. 37 | −15.3% |
| 1B | Dec 28, 2020 | $384,306 | $469,000 p. 37 | −18.1% |
| 4D | Dec 29, 2020 | $505,986 | $499,000 p. 37 | +1.4% |
| 2D | Jan 18, 2021 | $456,300 | $479,000 p. 37 | −4.7% |
| 4A | Jan 27, 2021 | $461,370 | $499,000 p. 37 | −7.5% |
| 3D | Apr 5, 2021 | $471,510 | $489,000 p. 37 | −3.6% |
| 3C | Apr 28, 2021 | $460,000 | $489,000 p. 37 | −5.9% |
| 4C | Apr 29, 2021 | $430,950 | $499,000 p. 37 | −13.6% |
| 1D | May 21, 2021 | $300,000 | $469,000 p. 37 | −36% |
| 1C | Jun 9, 2021 | $304,200 | $469,000 p. 37 | −35.1% |
Pro
Closings are for subscribers
Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.
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
- Royal Builders Development LLC
- Developers
- Royal Home Management Inc., Jacobs Development Corp.
- Counsel
- Tsyngauz & Associates, P.C.
- Tax estimate
- MGNY Consulting Corp.Prepared the first-year real estate tax projection
- Construction lender
- Valley National Bank$3.5 million loan stated in the plan
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- 412 Ocean View Avenue Condominiumnext door · 15 units · 2017
- 3031 Brighton 5th Street Condominiumnext door · 16 units · 9 parking · 2022
- 407 Ocean View Avenue Condominiumnext door · 6 units · 2018
- 2974 Brighton 5th Place Condominiumnext door · 6 units · 2006
- Westport Condominiumnext door · 14 units · 20 parking · 2006
- Oceanview Tower Condominiumnext door · 14 units · 18 parking · 2006