THE CONDO BOOK PROJECT

346 Avenue U Condominium

346 Avenue U, Brooklyn, NY 11223

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Overview

Units
12 residential
Subway
2 min walk to Avenue U FKings Hwy F, 9 min
Principals
Lee Cohen
Average $/sf
$2,502Homes in Schedule A, as first offered
Common charges
$3,648–$7,838 a monthSponsor's first-year estimate in Schedule A, July 1, 2025- June 30, 2026
Offering price
$68 million total

The sponsor of record is Ddg 346 Ave U Owner LLC, represented by Marans Newman Tsolis & Nazinitsky LLC. The offering plan runs 330 pages. The sponsor has filed 2 amendments, the latest in June 2026. The nearest other condo plan on file is 2102 East 1st Street Condominium, next door.

Plan CD230090 · New · accepted Jan 8, 2024 · AG record ↗

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FigureThis building1Onyx Residences212 units · 0 miaccepted 20251406 Ocean Parkway37 units · 1.2 miaccepted 2021
Common ChargesPer Square Foot / Month$2.29Above peers$2.16$0.47
Average Offering PricePer Apartment$5.54MIn line$6.17M$2.85M
Average PricePer Square Foot$2,502In line$2,639$1,526
Property TaxesPer Square Foot / Month$1.09Above peers$1.08$0.31
Average Unit SizeSquare Feet2,215 SFIn line2,340 SF1,870 SF

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Unit mix, closings, budgets, finishes and the team, against Onyx Residences and 1406 Ocean Parkway, 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 closed58% of the homes in Schedule A7 of 12
Closing prices vs. Schedule A7 homes: $36,868,713 at closing against $41,800,000 in Schedule A (p. 48)−11.8%
Average closing price7 homes, on their Schedule A square feet$2,267 / SF
Closingsfirst and latest recordedAug 5, 2025 – May 19, 2026

Sales recorded with the Department of Finance (ACRIS) through Jun 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 7 closings
HomeRecordedClosing priceSchedule ADifference
2BAug 5, 2025$4,300,000$5,100,000 p. 48−15.7%
3CAug 19, 2025$4,185,075$4,100,000 p. 48+2.1%
4CSep 18, 2025$4,849,800$4,800,000 p. 48+1%
5AOct 24, 2025$6,971,588$7,500,000 p. 48−7%
2AMar 13, 2026$6,000,000$6,500,000 p. 48−7.7%
3AMay 14, 2026$3,062,250$3,800,000 p. 48−19.4%
PHMay 19, 2026$7,500,000$10,000,000 p. 48−25%

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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
Ddg 346 Ave U Owner LLC
Developer
RedHoek+PartnersReported by panyc.info
Principals
Lee Cohen
Tax estimate
MGNY Consulting Corp.Prepared the first-year real estate tax projection
Construction lender
S3 Capital$22.5 million recorded

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

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