THE CONDO BOOK PROJECT

4112 8th Avenue Condominium

4112 8th Avenue, Brooklyn, NY 11232

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Overview

Units
8 residential · 2 commercial
Subway
7 min walk to 9 Av DFort Hamilton Pkwy D, 9 min
Principals
Ray Chen, William J. Chan, Zheng Sheng Zheng
Average $/sf
$681Homes in Schedule A, as first offered
Common charges
$223–$663 a monthSponsor's first-year estimate in Schedule A, January 1, 2022 to December 31, 2022
Offering price
$7.5 million total

The sponsor of record is 4112 8th Ave Realty LLC, represented by Thomas E. Berinato, Attorney At Law. The offering plan runs 290 pages. The sponsor has filed 1 amendment, the latest in May 2022. The nearest other condo plan on file is 4102 8th Avenue Condominium, next door.

Plan CD180196 · New · accepted Mar 1, 2022 · AG record ↗

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FigureThis building182 Real Estate29 units · 0.8 miaccepted 202293339 units · 0.9 miaccepted 2021
Common ChargesPer Square Foot / Month$0.37Lowest$0.65$0.47
Average Offering PricePer Apartment$624,583Highest$399,125$455,000
Average PricePer Square Foot$681Above peers$664$601
Property TaxesPer Square Foot / Month$0.93Highest$0.67$0.50
Average Unit SizeSquare Feet918 SFLargest601 SF757 SF

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Unit mix, closings, budgets, finishes and the team, against 82 Real Estate and 933, 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 closed58% of the homes in Schedule A7 of 12
Closing prices vs. Schedule A7 homes: $3,414,676 at closing against $4,085,000 in Schedule A (p. 31)−16.4%
Average closing price7 homes, on their Schedule A square feet$653 / SF
Closingsfirst and latest recordedSep 12, 2022 – Oct 28, 2024

Sales recorded with the Department of Finance (ACRIS) through Nov 30, 2024: 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 7 closings
HomeRecordedClosing priceSchedule ADifference
3BSep 12, 2022$324,480$560,000 p. 31−42.1%
4ASep 15, 2022$456,300$550,000 p. 31−17%
5BSep 22, 2022$539,673$560,000 p. 31−3.6%
6BSep 28, 2022$626,224$750,000 p. 31−16.5%
4BJan 17, 2024$420,000$560,000 p. 31−25%
3ASep 3, 2024$550,000$550,000 p. 310%
6AOct 28, 2024$498,000$555,000 p. 31−10.3%

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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
4112 8th Ave Realty LLC
Principals
Ray Chen, William J. Chan, Zheng Sheng Zheng
Tax estimate
Thomas E. BerinatoPrepared the first-year real estate tax projection

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

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