THE CONDO BOOK PROJECT

Marina Plaza Condominium

4078 Nostrand Avenue, Brooklyn, NY 11235

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Overview

Units
12 residential · 13 parking · 1 commercial
Subway
18 min walk to Sheepshead Bay B QBrighton Beach B Q, 27 min
Principals
Lev Sokolovsky
Average $/sf
$649Homes in Schedule A, as first offered
Common charges
$73–$176 a monthSponsor's first-year estimate in Schedule A, April 1, 2006 - March 31, 2007
Offering price
$9.19 million total

The sponsor of record is Ocean Avenue N Y, LLC, represented by Harold Gruber, P.C.. The offering plan runs 218 pages. The sponsor has filed 5 amendments, the latest in July 2008. The nearest other condo plan on file is La Mer Villas At The Marina Condominium, next door.

Plan CD050254 · New · accepted Nov 10, 2005 · AG record ↗

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FigureThis building1134 West End29 units · 0.9 miaccepted 2006Cunningham Park312 units · 1.7 miaccepted 2007
Common ChargesPer Square Foot / Month$0.13Lowest$0.39$0.18
Average Offering PricePer Apartment$685,546Above peers$635,556$476,306
Average PricePer Square Foot$649Above peers$592$550
Property TaxesPer Square Foot / Month$0.03In line$0.04$0.02
Average Unit SizeSquare Feet1,056 SFIn line1,074 SF866 SF

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Unit mix, closings, budgets, finishes and the team, against 134 West End and Cunningham Park, 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 A12 of 12
Closingsfirst and latest recordedJun 27, 2008

Sales recorded with the Department of Finance (ACRIS) through May 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 12 closings
HomeRecordedClosing priceSchedule ADifference
1AJun 27, 2008$2,800,000one deed, 12 homes$382,000 p. 17—
1BJun 27, 2008$2,800,000one deed, 12 homes$666,900 p. 17—
1CJun 27, 2008$2,800,000one deed, 12 homes$728,000 p. 17—
1DJun 27, 2008$2,800,000one deed, 12 homes$685,100 p. 17—
2AJun 27, 2008$2,800,000one deed, 12 homes$422,000 p. 17—
2BJun 27, 2008$2,800,000one deed, 12 homes$800,150 p. 17—
2CJun 27, 2008$2,800,000one deed, 12 homes$781,950 p. 17—
2DJun 27, 2008$2,800,000one deed, 12 homes$682,500 p. 17—
3AJun 27, 2008$2,800,000one deed, 12 homes$450,000 p. 17—
3BJun 27, 2008$2,800,000one deed, 12 homes$930,800 p. 17—
3CJun 27, 2008$2,800,000one deed, 12 homes$914,550 p. 17—
3DJun 27, 2008$2,800,000one deed, 12 homes$782,600 p. 17—

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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
Ocean Avenue N Y, LLC
Principals
Lev Sokolovsky
Tax estimate
Maksin Legal Group, PLLCPrepared the first-year real estate tax projection

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

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