THE CONDO BOOK PROJECT

395 16th Street Condominium

395 16th Street, Brooklyn, NY 11215

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Overview

Units
3 residential
Subway
4 min walk to 15 St-Prospect Park F G7 Av F G, 7 min
Principals
Royi Hazan
Average $/sf
$1,534Homes in Schedule A, as first offered
Common charges
$514–$1,017 a monthSponsor's first-year estimate in Schedule A, July 1, 2023 – June 30, 2024
Offering price
$5.74 million total

The sponsor of record is 395 16th LLC, represented by Jeffrey Zwick & Associates, P.C.. The offering plan runs 340 pages. The sponsor has filed 1 amendment, the latest in August 2023. The nearest other condo plan on file is Armory Tower Condominium, next door.

Plan CD220098 · Rehab · accepted Apr 21, 2023 · AG record ↗

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FigureThis building1371 Douglass23 units · 1.2 miaccepted 2022Six Garfield Place33 units · 0.9 miaccepted 2024
Common ChargesPer Square Foot / Month$0.56In line$0.35$0.97
Average Offering PricePer Apartment$1.91MIn line$2.4M$1.84M
Average PricePer Square Foot$1,534In line$1,530$1,584
Property TaxesPer Square Foot / Month$0.19Lowest$0.28$1.85
Average Unit SizeSquare Feet1,248 SFIn line1,568 SF1,163 SF

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Unit mix, closings, budgets, finishes and the team, against 371 Douglass and Six Garfield Place, cited to the offering plans. No credit card required, and it also connects to ChatGPT and Claude, with limited access.

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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.

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Closings Pro

Homes closed100% of the homes in Schedule A3 of 3
Closing prices vs. Schedule A3 homes: $5,753,000 at closing against $5,740,000 in Schedule A (p. 32)+0.2%
Average closing price3 homes, on their Schedule A square feet$1,537 / SF
Closingsfirst and latest recordedJan 11, 2024 – Jun 3, 2024

Sales recorded with the Department of Finance (ACRIS) through Jul 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 3 closings
HomeRecordedClosing priceSchedule ADifference
1Jan 11, 2024$1,730,000$1,495,000 p. 32+15.7%
3Mar 1, 2024$2,860,000$2,995,000 p. 32−4.5%
2Jun 3, 2024$1,163,000$1,250,000 p. 32−7%

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Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page, here and in ChatGPT or Claude.

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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
395 16th LLC
Principals
Royi Hazan
Tax estimate
RE Tax ServicePrepared the first-year real estate tax projection

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

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