THE CONDO BOOK PROJECT

Cypress Condominium

309 Ocean Parkway, Brooklyn, NY 11218

Compare

Overview

Units
14 residential
Subway
8 min walk to Church Av F GDitmas Av F, 12 min
Developers
Global Industries LLC, United Elite Group Inc.
Principals
Tolib Mansurov
Average $/sf
$1,001Homes in Schedule A, as first offered
Common charges
$346–$730 a monthSponsor's first-year estimate in Schedule A, September 1, 2018 - August 31, 2019
Offering price
$13.8 million total $11 million when first offered

The sponsor of record is 309 Op Realty LLC, represented by Tsyngauz & Associates, P.C.. The offering plan runs 296 pages. The sponsor has filed 5 amendments, the latest in June 2020. The nearest other condo plan on file is 265 Ocean Parkway Condominium, next door.

Plan CD170333 · New · accepted Apr 24, 2018 · AG record ↗

Compare

FigureThis building126 East 19th226 units · 0.8 miaccepted 2018719 6th312 units · 1.6 miaccepted 2019
Common ChargesPer Square Foot / Month$0.47In line$0.68$0.44
Average Offering PricePer Apartment$970,429In line$613,385$1.48M
Average PricePer Square Foot$1,001In line$930$1,222
Property TaxesPer Square Foot / Month$0.88Above peers$0.05$0.83
Average Unit SizeSquare Feet970 SFIn line660 SF1,214 SF

Free Account

See the Full Comp

Unit mix, closings, budgets, finishes and the team, against 26 East 19th and 719 6th, cited to the offering plans. No credit card required.

Create a free account
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 A14 of 14
Closing prices vs. Schedule A14 homes: $12,052,659 at closing against $13,586,000 in Schedule A (p. 32, p. 33)−11.3%
Average closing price14 homes, on their Schedule A square feet$888 / SF
Closingsfirst and latest recordedMay 28, 2020 – Aug 20, 2021

Sales recorded with the Department of Finance (ACRIS) through Aug 31, 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 14 closings
HomeRecordedClosing priceSchedule ADifference
2RMay 28, 2020$990,000$1,339,000 p. 32−26.1%
3RMay 29, 2020$1,075,000$1,339,000 p. 32−19.7%
PHMay 29, 2020$1,510,000$1,712,000 p. 33−11.8%
3FJun 4, 2020$725,000$880,000 p. 32−17.6%
1RJun 12, 2020$850,239$1,044,000 p. 32−18.6%
2FAug 25, 2020$743,323$880,000 p. 32−15.5%
6FAug 27, 2020$762,669$816,000 p. 32−6.5%
6RAug 27, 2020$804,418$816,000 p. 32−1.4%
5RDec 8, 2020$795,762$816,000 p. 32−2.5%
4RJan 27, 2021$840,000$816,000 p. 32+2.9%
4FFeb 19, 2021$763,688$816,000 p. 32−6.4%
7RJun 3, 2021$830,892$816,000 p. 33+1.8%
5FJun 24, 2021$762,669$816,000 p. 32−6.5%
7FAug 20, 2021$599,000$680,000 p. 32−11.9%

Pro

Closings are for subscribers

Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.

Subscribe to seeAlready a member? Sign in

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
309 Op Realty LLC
Developers
Global Industries LLC, United Elite Group Inc.
Principals
Tolib Mansurov
Tax estimate
MGNY Consulting Corp.Prepared the first-year real estate tax projection

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

Nearby