THE CONDO BOOK PROJECT

327 20th Street Condominium

327 20th Street, Brooklyn, NY 11215

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Overview

Units
4 residential
Subway
10 min walk to Prospect Av R25 St R, 12 min
Developer
Standard One Developers Inc.
Principals
Yuriy Grytsenko
Average $/sf
$1,256Homes in Schedule A, as first offered
Common charges
$403–$550 a monthSponsor's first-year estimate in Schedule A, September 1, 2020 - August 31, 2021
Offering price
$7.03 million total

The sponsor of record is 327-329 Development LLC, represented by Tsyngauz & Associates, P.C.. The offering plan runs 303 pages. The sponsor has filed 5 amendments, the latest in May 2022. The nearest other condo plan on file is 325 20th Street Condominium, next door.

Plan CD190419 · New · accepted Jun 11, 2020 · AG record ↗

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FigureThis building1147 14th23 units · 0.6 miaccepted 2020270 12th34 units · 0.5 miaccepted 2020
Common ChargesPer Square Foot / Month$0.32Below peers$0.34$0.41
Average Offering PricePer Apartment$1.76MAbove peers$1.59M$1.14M
Average PricePer Square Foot$1,256Above peers$1,205$1,162
Property TaxesPer Square Foot / Month$1.13Highest$0.48$0.82
Average Unit SizeSquare Feet1,398 SFLarger1,316 SF979 SF

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Unit mix, closings, budgets, finishes and the team, against 147 14th and 270 12th, 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: $6,429,133 at closing against $7,025,450 in Schedule A (p. 38)−8.5%
Average closing price4 homes, on their Schedule A square feet$1,150 / SF
Closingsfirst and latest recordedMar 25, 2021 – Aug 5, 2022

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 4 closings
HomeRecordedClosing priceSchedule ADifference
4Mar 25, 2021$1,540,000$1,684,400 p. 38−8.6%
3Jul 8, 2021$1,485,000$1,585,500 p. 38−6.3%
2Dec 17, 2021$1,504,133$1,593,550 p. 38−5.6%
1Aug 5, 2022$1,900,000$2,162,000 p. 38−12.1%

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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
327-329 Development LLC
Developer
Standard One Developers Inc.
Principals
Yuriy Grytsenko
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Ponce Bank$2.35 million loan stated in the plan

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

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