THE CONDO BOOK PROJECT

Viking Sunset Condominium

337 48th Street, Brooklyn, NY 11220

Overview

Units
6 residential
Subway
5 min walk to 45 St R53 St R, 5 min
Principals
M. George Hansen
Average $/sf
$418Homes in Schedule A, as first offered
Common charges
$85–$167 a monthSponsor's first-year estimate in Schedule A, January 1, 2013 through December 31, 2013
Offering price
$2 million total

The sponsor of record is Hansen & Hansen LLC, represented by Paul A Leff, Esq. The offering plan runs 221 pages. The sponsor has filed 1 amendment, the latest in October 2013. The nearest other condo plan on file is 357 49th Street Condominium, next door.

Plan CD120073 · New · accepted Aug 9, 2012 · AG record ↗

Compare

FigureThis building1Lista28 units · 0.3 miaccepted 2009290 13th34 units · 1.8 miaccepted 2009
Common ChargesPer Square Foot / Month$0.15In line$0.14$0.22
Average Offering PricePer Apartment$333,500In line$307,750$1.1M
Average PricePer Square Foot$418Below peers$462$791
Property TaxesPer Square Foot / Month$0.05Highest$0.03$0.02
Average Unit SizeSquare Feet797 SFIn line667 SF1,391 SF

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Unit mix, closings, budgets, finishes and the team, against Lista and 290 13th, 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
Hansen & Hansen LLC
Principals
M. George Hansen
Tax estimate
Paul A. Leff, Esq.Prepared the first-year real estate tax projection

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

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