THE CONDO BOOK PROJECT

371 Douglass Street Condominium

371 Douglass Street, Brooklyn, NY 11217

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Overview

Units
3 residential
Subway
5 min walk to Union St RAtlantic Av-Barclays Ctr 2 3 4 5 B D N Q R, 8 min
Principals
Aran Scott, Paula Stolowicz Ras
Average $/sf
$1,530Homes in Schedule A, as first offered
Common charges
$425–$604 a monthSponsor's first-year estimate in Schedule A, April 1, 2023 through March 31, 2024
Offering price
$7.8 million total $7.2 million when first offered

The sponsor of record is 371 Douglass St, LLC, represented by Certilman Balin Adler & Hyman, LLP. The offering plan runs 401 pages. The sponsor has filed 3 amendments, the latest in October 2024. The nearest other condo plan on file is 363 Douglass Street Condominium, next door.

Plan CD220123 · Rehab · accepted Oct 14, 2022 · AG record ↗

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FigureThis building127 Wyckoff23 units · 0.8 miaccepted 2022Townhouse 16 Saint Marks33 units · 0.2 miaccepted 2022
Common ChargesPer Square Foot / Month$0.35Lowest$1.08$0.61
Average Offering PricePer Apartment$2.4MAbove peers$2.25M$1.86M
Average PricePer Square Foot$1,530In line$1,415$1,597
Property TaxesPer Square Foot / Month$0.28Above peers$0.23$0.26
Average Unit SizeSquare Feet1,568 SFLarger1,424 SF1,167 SF

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Unit mix, closings, budgets, finishes and the team, against 27 Wyckoff and Townhouse 16 Saint Marks, 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 A3 of 3
Closing prices vs. Schedule A3 homes: $7,338,000 at closing against $7,195,000 in Schedule A (p. 43)+2%
Average closing price3 homes, on their Schedule A square feet$1,560 / SF
Closingsfirst and latest recordedSep 30, 2024 – Dec 18, 2024

Sales recorded with the Department of Finance (ACRIS) through Apr 30, 2025: 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 3 closings
HomeRecordedClosing priceSchedule ADifference
1Sep 30, 2024$2,700,000$2,700,000 p. 430%
2Oct 2, 2024$1,988,000$1,795,000 p. 43+10.8%
3Dec 18, 2024$2,650,000$2,700,000 p. 43−1.9%

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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
371 Douglass St, LLC
Principals
Aran Scott, Paula Stolowicz Ras
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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