THE CONDO BOOK PROJECT

Van Brunt Condominium

362 Van Brunt Street, Brooklyn, NY 11231

Overview

Units
10 residential · 2 commercial
Subway
20 min walk to Smith-9 Sts F GCarroll St F G, 24 min
Principals
Leonid Bogomolniy, Tigran Sahakyan
Offering price
$15.1 million total

The sponsor of record is 362 Van Brunt Development LLC, represented by The Law Office Of Jay Lichtman, P.C.. The offering plan runs 365 pages. The sponsor has filed 3 amendments, the latest in April 2021. The nearest other condo plan on file is 109 Wolcott Street Condominium, next door.

Plan CD180374 · New · accepted Mar 25, 2019 · AG record ↗

Compare

FigureThis building1719 6th212 units · 1.7 miaccepted 2019Bentyn310 units · 1.3 miaccepted 2018
Average Offering PricePer Apartment$1.51MIn line$1.48M$1.85M

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Unit mix, closings, budgets, finishes and the team, against 719 6th and Bentyn, 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 the plan10 of 10
Closingsfirst and latest recordedFeb 13, 2020 – Nov 5, 2021

Sales recorded with the Department of Finance (ACRIS) through Aug 31, 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 14 closings
HomeRecordedClosing priceSchedule ADifference
3AFeb 13, 2020$997,885——
C2Feb 19, 2020$521,564——
2AMar 19, 2020$867,848——
1ASep 25, 2020$795,000——
2DOct 2, 2020$844,590——
3COct 16, 2020$940,000——
2BDec 18, 2020$875,000——
3BFeb 24, 2021$950,000——
2CApr 22, 2021$885,000——
1DApr 23, 2021$770,000——
1BJun 9, 2021$780,000——
1CJul 22, 2021$824,783——
3DAug 24, 2021$973,806——
C1Nov 5, 2021$393,750——

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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
362 Van Brunt Development LLC
Principals
Leonid Bogomolniy, Tigran Sahakyan
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
S3 Capital$6.99 million recorded

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

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