THE CONDO BOOK PROJECT

399 Marcy Avenue Condominium

399 Marcy Avenue, Brooklyn, NY 11206

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Overview

Units
4 residential
Subway
4 min walk to Flushing Av GBroadway G, 6 min
Principals
Moishe Zelik
Offering price
$2 million total

The sponsor of record is Hej Realty Co., LLC, represented by Harold L. Gruber, P.C.. The offering plan runs 176 pages. The nearest other condo plan on file is 403 Marcy Avenue Condominium, next door.

Plan CD050517 · New · accepted Jul 5, 2006 · AG record ↗

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FigureThis building171 Lexington25 units · 1.1 miaccepted 2006836 Kent Avenue Estates33 units · 0.6 miaccepted 2006
Average Offering PricePer Apartment$499,000Above peers$474,000$408,333

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Unit mix, closings, budgets, finishes and the team, against 71 Lexington and 836 Kent Avenue Estates, 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
Hej Realty Co., LLC
Principals
Moishe Zelik
Tax estimate
Moseson & AssociatesPrepared the first-year real estate tax projection

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

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