THE CONDO BOOK PROJECT

408 Fenimore Street Condominium (The )

408 Fenimore Street, Brooklyn, NY 11225

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Overview

Units
6 residential
Subway
4 min walk to Winthrop St 2 5Sterling St 2 5, 8 min
Principals
Eliahu Nahman
Average $/sf
$1,046Homes in Schedule A, as first offered
Common charges
$374–$950 a monthSponsor's first-year estimate in Schedule A, January 1, 2023- December 31, 2023
Offering price
$4.51 million total

The sponsor of record is Tf 410 Fenimore Jv LLC, represented by The Law Office Of Jay Lichtman, P.C.. The offering plan runs 341 pages. The sponsor has filed 1 amendment, the latest in December 2022. The nearest other condo plan on file is 410 Fenimore Street Condominium, next door.

Plan CD210340 · New · accepted May 5, 2022 · AG record ↗

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FigureThis building1The Fenimore26 units · 0 miaccepted 2022406 Fenimore36 units · 0 miaccepted 2022
Common ChargesPer Square Foot / Month$0.77In line$0.77$0.76
Average Offering PricePer Apartment$751,667In line$751,667$761,667
Average PricePer Square Foot$1,046In line$1,046$1,047
Property TaxesPer Square Foot / Month$1.11Above peers$1.10$1.09
Average Unit SizeSquare Feet718 SFSmaller719 SF727 SF

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Unit mix, closings, budgets, finishes and the team, against The Fenimore and 406 Fenimore, 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: $4,343,860 at closing against $4,510,000 in Schedule A (p. 33)−3.7%
Average closing price6 homes, on their Schedule A square feet$1,008 / SF
Closingsfirst and latest recordedMar 1, 2023 – Mar 28, 2024

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
1Mar 1, 2023$1,160,000$1,285,000 p. 33−9.7%
4RMar 24, 2023$822,000$740,000 p. 33+11.1%
2Mar 29, 2023$820,000$810,000 p. 33+1.2%
3RAug 22, 2023$495,000$545,000 p. 33−9.2%
4FJan 17, 2024$550,000$565,000 p. 33−2.7%
3FMar 28, 2024$496,860$565,000 p. 33−12.1%

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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
Tf 410 Fenimore Jv LLC
Principals
Eliahu Nahman
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Popular Bank

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

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