THE CONDO BOOK PROJECT

415 36th Street Condominium

415 36th Street, Brooklyn, NY 11232

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Overview

Units
12 residential · 10 parking
Subway
1 min walk to 36 St D N R45 St R, 9 min
Principals
Isaac Schwimmer, Robert Fischman
Offering price
$6.83 million total

The sponsor of record is Cathedral Projects LLC, represented by Gary Rosen Law Firm, P.C.. The offering plan runs 244 pages. The sponsor has filed 3 amendments, the latest in December 2007. The nearest other condo plan on file is 227 Greenwood Condominium, 0.1 mi away.

Plan CD050586 · New · accepted Jul 20, 2006 · AG record ↗

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FigureThis building1Abby Court216 units · 0.8 miaccepted 2006203 Luquer38 units · 1.6 miaccepted 2008
Average Offering PricePer Apartment$569,167Above peers$439,250$568,750

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Unit mix, closings, budgets, finishes and the team, against Abby Court and 203 Luquer, 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
Cathedral Projects LLC
Principals
Isaac Schwimmer, Robert Fischman
Tax estimate
Barnett MallerPrepared the first-year real estate tax projection
Construction lenders
Loan Association, Astoria Federal Savings$2 million loan stated in the plan

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

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