THE CONDO BOOK PROJECT

345 Bergen Street Condominium

345 Bergen Street, Brooklyn, NY 11217

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Overview

Units
6 residential
Subway
3 min walk to Atlantic Av-Barclays Ctr 2 3 4 5 B D N Q RBergen St 2 3, 6 min
Developers
Minerva Capital Holdings LLC, Minerva Home Restoration Corp.
Principals
Omri Bar-Mashiah
Average $/sf
$1,575Homes in Schedule A, as first offered
Common charges
$591–$769 a monthSponsor's first-year estimate in Schedule A, July 1, 2024 - June 30, 2025
Offering price
$14.5 million total

The sponsor of record is 345 Bergen Condo LLC, represented by Tsyngauz & Associates, P.C.. The offering plan runs 303 pages. The sponsor has filed 2 amendments, the latest in April 2025. The nearest other condo plan on file is 350 Bergen Street Condominium, next door.

Plan CD230111 · New · accepted Jun 25, 2024 · AG record ↗

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FigureThis building1James - Boutique Condominium Building28 units · 0.8 miaccepted 2024265 20th38 units · 1.6 miaccepted 2024
Common ChargesPer Square Foot / Month$0.43In line$0.49$0.39
Average Offering PricePer Apartment$2.42MHighest$1.58M$1.86M
Average PricePer Square Foot$1,575In line$1,612$1,529
Property TaxesPer Square Foot / Month$1.05Highest$0.40$0.84
Average Unit SizeSquare Feet1,535 SFLargest983 SF1,215 SF

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Unit mix, closings, budgets, finishes and the team, against James - Boutique Condominium Building and 265 20th, 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 A6 of 6
Closing prices vs. Schedule A6 homes: $13,510,150 at closing against $14,500,000 in Schedule A (p. 45)−6.8%
Average closing price6 homes, on their Schedule A square feet$1,467 / SF
Closingsfirst and latest recordedApr 29, 2025 – May 22, 2025

Sales recorded with the Department of Finance (ACRIS) through Jun 30, 2025: 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 6 closings
HomeRecordedClosing priceSchedule ADifference
1Apr 29, 2025$2,395,000$2,600,000 p. 45−7.9%
2Apr 30, 2025$2,150,000$2,300,000 p. 45−6.5%
3Apr 30, 2025$2,175,000$2,300,000 p. 45−5.4%
6Apr 30, 2025$2,300,000$2,550,000 p. 45−9.8%
4May 14, 2025$2,240,150$2,350,000 p. 45−4.7%
5May 22, 2025$2,250,000$2,400,000 p. 45−6.2%

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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
345 Bergen Condo LLC
Developers
Minerva Capital Holdings LLC, Minerva Home Restoration Corp.
Principals
Omri Bar-Mashiah
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Bayport Funding$5 million loan stated in the plan

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

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