THE CONDO BOOK PROJECT

360 Tompkins Avenue Condominium

360 Tompkins Avenue, Brooklyn, NY 11216

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Overview

Units
4 residential
Subway
10 min walk to Kingston-Throop Avs CNostrand Av A C, 12 min
Developers
AD Restoration and Builders Corp., Reliable Home Sales LLC, Viceroy holdings VII LLC
Average $/sf
$1,166Homes in Schedule A, as first offered
Common charges
$303–$544 a monthSponsor's first-year estimate in Schedule A, July 1, 2022 To June 30, 2023
Offering price
$4.4 million total

The sponsor of record is 360 Tompkins Development LLC, represented by Eial Girtz, PC. The offering plan runs 277 pages. The sponsor has filed 3 amendments, the latest in May 2023. The nearest other condo plan on file is 358 Tompkins Avenue Condominium, next door.

Plan CD210286 · New · accepted May 9, 2022 · AG record ↗

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FigureThis building1680 Greene24 units · 0.3 miaccepted 2022215 Putnam36 units · 0.5 miaccepted 2022
Common ChargesPer Square Foot / Month$0.42Below peers$0.54$0.47
Average Offering PricePer Apartment$1.1MAbove peers$1.01M$895,667
Average PricePer Square Foot$1,166Below peers$1,174$1,186
Property TaxesPer Square Foot / Month$0.35Lowest$0.73$1.21
Average Unit SizeSquare Feet944 SFLarger865 SF755 SF

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Unit mix, closings, budgets, finishes and the team, against 680 Greene and 215 Putnam, 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: $4,453,805 at closing against $4,400,000 in Schedule A (p. 39)+1.2%
Average closing price4 homes, on their Schedule A square feet$1,180 / SF
Closingsfirst and latest recordedMay 8, 2023 – May 30, 2023

Sales recorded with the Department of Finance (ACRIS) through Mar 31, 2024: 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
1May 8, 2023$1,160,805$1,250,000 p. 39−7.1%
4May 8, 2023$1,295,000$1,250,000 p. 39+3.6%
2May 17, 2023$999,000$950,000 p. 39+5.2%
3May 30, 2023$999,000$950,000 p. 39+5.2%

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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.

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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
360 Tompkins Development LLC
Developers
AD Restoration and Builders Corp., Reliable Home Sales LLC, Viceroy holdings VII LLC
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection

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

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