354 Franklin Avenue Condominiums
354 Franklin Avenue, Brooklyn, NY 11238
Overview
- Units
- 6 residential
- Subway
- 6 min walk to Classon Av GBedford-Nostrand Avs G, 6 min
- Principals
- Frances Frankel
- Offering price
- $15.3 million total $7.05 million when first offered
- Floor plans
- Page 33 of the plan
The sponsor of record is 120-122 Lexington Ave LLC, represented by Law Offices Of Hershy Itzkowitz, P.C.. The offering plan runs 318 pages. The sponsor has filed 3 amendments, the latest in July 2024. The nearest other condo plan on file is 120 Lexington Avenue Condominium, next door.
Plan CD190289 · New · accepted Apr 27, 2020 · AG record ↗
Compare
| Figure | This building1 | 778 Marcy26 units · 0.5 miaccepted 2020 | 54 Himrod36 units · 1.8 miaccepted 2020 |
|---|---|---|---|
| Average Offering PricePer Apartment | $611,667Below peers | $666,667 | $616,500 |
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Unit mix, closings, budgets, finishes and the team, against 778 Marcy and 54 Himrod, cited to the offering plans. No credit card required.
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- 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.
Units & Prices
Closings Pro
| Homes closed42% of the homes in Schedule A | 5 of 12 |
| Closing prices vs. Schedule A3 homes: $3,215,623 at closing against $425,000 in Schedule A (p. 32) | +656.6% |
| Closingsfirst and latest recorded | Sep 20, 2023 – May 1, 2024 |
Sales recorded with the Department of Finance (ACRIS) through Feb 28, 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 5 closings
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| P1 | Sep 20, 2023 | $1,340,000 | $175,000 p. 32 | +665.7% |
| P5 | Sep 20, 2023 | $1,150,623 | $125,000 p. 32 | +820.5% |
| P3 | Nov 1, 2023 | $1,395,000one deed, 2 homes | $125,000 p. 32 | — |
| P4 | Nov 1, 2023 | $1,395,000one deed, 2 homes | $125,000 p. 32 | — |
| P2 | May 1, 2024 | $725,000 | $125,000 p. 32 | +480% |
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Closings are for subscribers
Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.
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
- 120-122 Lexington Ave LLC
- Principals
- Frances Frankel
- Tax estimate
- Metropolitan Realty Exemptions, IncPrepared the first-year real estate tax projection
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- 120 Lexington Avenue Condominiumnext door · 6 units · 2006
- 354 Franklin Avenue Condominiumsnext door · 6 units
- 114 Lexington Avenue Condominiumnext door · 16 units · 10 parking · 2023
- 361 Franklin Avenue Condominiumnext door · 3 units · 1 parking · 2007
- 97 Quincy Street Condominiumnext door · 6 units · 2019
- 95 Quincy Street Condominiumnext door · 6 units · 2022