THE CONDO BOOK PROJECT

400 Linden Street Condominium

400 Linden Street, Brooklyn, NY 11237

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Overview

Units
6 residential
Subway
3 min walk to Myrtle-Wyckoff Avs L MSeneca Av M, 7 min
Developer
New Leaf Development LLC
Principals
Eleonora Hroncich
Average $/sf
$1,067Homes in Schedule A, as first offered
Common charges
$220–$550 a monthSponsor's first-year estimate in Schedule A, July 1, 2021 through June 30, 2022
Offering price
$4.09 million total $4.07 million when first offered

The sponsor of record is 400 Linden LLC, represented by Rosen Law LLC. The offering plan runs 388 pages. The sponsor has filed 4 amendments, the latest in June 2022. The nearest other condo plan on file is Gates Tower Condominium, next door.

Plan CD200280 · New · accepted Jan 22, 2021 · AG record ↗

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FigureThis building1Bleecker26 units · 0.8 miaccepted 2021832 Monroe37 units · 1 miaccepted 2021
Common ChargesPer Square Foot / Month$0.58In line$0.65$0.53
Average Offering PricePer Apartment$678,833Above peers$624,667$638,429
Average PricePer Square Foot$1,067Above peers$990$1,019
Property TaxesPer Square Foot / Month$0.83In line$1.02$0.63
Average Unit SizeSquare Feet637 SFLarger631 SF627 SF

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Unit mix, closings, budgets, finishes and the team, against Bleecker and 832 Monroe, 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 A6 of 6
Closing prices vs. Schedule A6 homes: $3,837,646 at closing against $4,073,000 in Schedule A (p. 43)−5.8%
Average closing price6 homes, on their Schedule A square feet$1,005 / SF
Closingsfirst and latest recordedDec 16, 2021 – Apr 14, 2022

Sales recorded with the Department of Finance (ACRIS) through Jun 30, 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 6 closings
HomeRecordedClosing priceSchedule ADifference
ADec 16, 2021$937,000$1,150,000 p. 43−18.5%
CDec 16, 2021$499,000$499,000 p. 430%
FDec 17, 2021$887,646$875,000 p. 43+1.4%
EDec 22, 2021$537,000$525,000 p. 43+2.3%
BFeb 22, 2022$515,000$525,000 p. 43−1.9%
DApr 14, 2022$462,000$499,000 p. 43−7.4%

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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
400 Linden LLC
Developer
New Leaf Development LLC
Principals
Eleonora Hroncich
Tax estimate
Rosen Law, LLCPrepared the first-year real estate tax projection
Construction lender
Twin PA Holding$1.75 million recorded

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

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