THE CONDO BOOK PROJECT

380 Condominium

380 Kings Highway, Brooklyn, NY 11223

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Overview

Units
8 residential · 12 parking · 1 storage · 1 commercial
Subway
4 min walk to Kings Hwy FKings Hwy N, 5 min
Principals
Oleg Krasnitsky, Boris Tanskiy
Offering price
$5.82 million total

The sponsor of record is 380 Kings Highway, LLC, represented by Michael & Swerdloff, LLC. The offering plan runs 262 pages. The sponsor has filed 3 amendments, the latest in April 2013. The nearest other condo plan on file is Galleria Condominium, next door.

Plan CD100222 · New · accepted Nov 16, 2010 · AG record ↗

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FigureThis building11835 East 14th27 units · 0.9 miaccepted 20072231 62nd38 units · 0.8 miaccepted 2007
Average Offering PricePer Apartment$727,375Above peers$680,000$470,875

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Unit mix, closings, budgets, finishes and the team, against 1835 East 14th and 2231 62nd, 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.

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
380 Kings Highway, LLC
Principals
Oleg Krasnitsky, Boris Tanskiy
Tax estimate
Alex KostovetskyPrepared the first-year real estate tax projection

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

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