THE CONDO BOOK PROJECT

442 3rd Street Condominium

442 3rd Street, Brooklyn, NY 11215

Overview

Units
4 residential
Subway
8 min walk to 7 Av F GUnion St R, 11 min
Principals
Aran Scott, Paula Stolowicz Ras
Average $/sf
$1,605Homes in Schedule A, as first offered
Common charges
$420–$566 a monthSponsor's first-year estimate in Schedule A, April 1, 2024 through March 31, 2025
Offering price
$9.75 million total

The sponsor of record is 442 3rd LLC, represented by Certilman Balin Adler & Hyman, LLP. The offering plan runs 404 pages. The sponsor has filed 1 amendment, the latest in January 2024. The nearest other condo plan on file is 446 Third Street Condominiums, next door.

Plan CD230264 · New · accepted Dec 18, 2023 · AG record ↗

Compare

FigureThis building1341 13th24 units · 0.5 miaccepted 2023747 Dean34 units · 1 miaccepted 2024
Common ChargesPer Square Foot / Month$0.30Lowest$0.46$0.40
Average Offering PricePer Apartment$2.44MHighest$1.91M$2.02M
Average PricePer Square Foot$1,605Below peers$1,661$1,756
Property TaxesPer Square Foot / Month$0.39Lowest$1.60$1.05
Average Unit SizeSquare Feet1,519 SFLargest1,148 SF1,153 SF

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Unit mix, closings, budgets, finishes and the team, against 341 13th and 747 Dean, 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 A4 of 4
Closing prices vs. Schedule A4 homes: $9,725,000 at closing against $9,750,000 in Schedule A (p. 45)−0.3%
Average closing price4 homes, on their Schedule A square feet$1,601 / SF
Closingsfirst and latest recordedApr 1, 2024 – Apr 22, 2024

Sales recorded with the Department of Finance (ACRIS) through Jul 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 4 closings
HomeRecordedClosing priceSchedule ADifference
4Apr 1, 2024$2,300,000$2,300,000 p. 450%
3Apr 5, 2024$2,300,000$2,300,000 p. 450%
1Apr 15, 2024$2,925,000$2,950,000 p. 45−0.8%
2Apr 22, 2024$2,200,000$2,200,000 p. 450%

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Closings are for subscribers

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
442 3rd LLC
Principals
Aran Scott, Paula Stolowicz Ras
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection

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

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