THE CONDO BOOK PROJECT

392 Bergen Street Condominium

392 Bergen Street, Brooklyn, NY 11217

Overview

Units
3 residential
Subway
4 min walk to Atlantic Av-Barclays Ctr 2 3 4 5 B D N Q RBergen St 2 3, 4 min
Principals
Arthur Haruvi, Abraham Hazan
Average $/sf
$726Homes in Schedule A, as first offered
Common charges
$223–$314 a monthSponsor's first-year estimate in Schedule A, March 1, 2012 - February 28, 2013
Offering price
$3.1 million total

The sponsor of record is 392 Bergen Street LLC, represented by The Law Office Of Claudia V. Murdoch, P.C.. The offering plan runs 186 pages. The sponsor has filed 1 amendment, the latest in June 2014. The nearest other condo plan on file is 382 Bergen Street Condominium, next door.

Plan CD110101 · New · accepted Aug 30, 2011 · AG record ↗

Compare

FigureThis building1206 Prospect Place24 units · 0.5 miaccepted 2011290 13th34 units · 1.2 miaccepted 2009
Common ChargesPer Square Foot / Month$0.19Below peers$0.29$0.22
Average Offering PricePer Apartment$1.03MBelow peers$1.18M$1.1M
Average PricePer Square Foot$726Below peers$938$791
Property TaxesPer Square Foot / Month$0.10In line$0.17$0.02
Average Unit SizeSquare Feet1,423 SFLarger1,262 SF1,391 SF

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Unit mix, closings, budgets, finishes and the team, against 206 Prospect Place and 290 13th, 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: $2,813,456 at closing against $3,100,000 in Schedule A (p. 19)−9.2%
Average closing price3 homes, on their Schedule A square feet$659 / SF
Closingsfirst and latest recordedApr 27, 2012 – Aug 6, 2012

Sales recorded with the Department of Finance (ACRIS) through Jan 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 3 closings
HomeRecordedClosing priceSchedule ADifference
1Apr 27, 2012$1,120,075$1,200,000 p. 19−6.7%
2Jun 26, 2012$760,000$850,000 p. 19−10.6%
3Aug 6, 2012$933,381$1,050,000 p. 19−11.1%

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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
392 Bergen Street LLC
Principals
Arthur Haruvi, Abraham Hazan

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

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