THE CONDO BOOK PROJECT

364 13th Street Condominium

364 13th Street, Brooklyn, NY 11215

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Overview

Units
3 residential
Subway
5 min walk to 7 Av F G15 St-Prospect Park F G, 9 min
Principals
Arthur Leeds
Average $/sf
$1,602Homes in Schedule A, as first offered
Common charges
$231–$462 a monthSponsor's first-year estimate in Schedule A, December 1, 2020 through November 30, 2021
Offering price
$3.82 million total $3.7 million when first offered

The sponsor of record is Jrs 13th Street LLC, represented by Certilman Balin Adler & Hyman, LLP. The offering plan runs 361 pages. The sponsor has filed 2 amendments, the latest in September 2021. The nearest other condo plan on file is 362 13th Street Condominium, next door.

Plan CD200084 · New · accepted Aug 12, 2020 · AG record ↗

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FigureThis building1115 St. Marks Place23 units · 1.2 miaccepted 2020110 Summit33 units · 1.5 miaccepted 2020
Common ChargesPer Square Foot / Month$0.42Above peers$0.41$0.28
Average Offering PricePer Apartment$1.23MLowest$1.83M$1.93M
Average PricePer Square Foot$1,602Below peers$1,700$1,622
Property TaxesPer Square Foot / Month$0.46Above peers$0.43$0.14
Average Unit SizeSquare Feet770 SFSmallest1,079 SF1,192 SF

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Unit mix, closings, budgets, finishes and the team, against 115 St. Marks Place and 110 Summit, 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 closed67% of the homes in Schedule A2 of 3
Closing prices vs. Schedule A2 homes: $2,185,000 at closing against $2,100,000 in Schedule A (p. 40)+4%
Average closing price2 homes, on their Schedule A square feet$1,378 / SF
Closingsfirst and latest recordedFeb 17, 2022 – Feb 25, 2022

Sales recorded with the Department of Finance (ACRIS) through May 31, 2022: 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 2 closings
HomeRecordedClosing priceSchedule ADifference
2Feb 17, 2022$1,085,000$1,025,000 p. 40+5.9%
3Feb 25, 2022$1,100,000$1,075,000 p. 40+2.3%

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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
Jrs 13th Street LLC
Principals
Arthur Leeds
Tax estimate
Podell, Schwartz, Schechter and Banfield, LLPPrepared the first-year real estate tax projection

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

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