THE CONDO BOOK PROJECT

4521 18th Avenue Condominium

4521 18th Avenue, Brooklyn, NY 11204

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Overview

Units
3 residential
Subway
2 min walk to 18 Av FAvenue I F, 8 min
Principals
Nahman Lichtenstein
Average $/sf
$597Homes in Schedule A, as first offered
Offering price
$780,000 total $2.56 million when first offered

The sponsor of record is 18th Avenue Builders LLC, represented by Law Offices Of N.C. Caller, P.C.. The offering plan runs 296 pages. The sponsor has filed 1 amendment, the latest in March 2019. The nearest other condo plan on file is 4519 18th Avenue Condominium, next door.

Plan CD180124 · New · accepted Nov 8, 2018 · AG record ↗

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FigureThis building12064 57th23 units · 0.7 miaccepted 20202074 57th33 units · 0.7 miaccepted 2020
Common ChargesPer Square Foot / Month$0.30 ⚠Highest$0.23$0.23
Average Offering PricePer Apartment$855,000Below peers$916,667$916,667
Average PricePer Square Foot$597Below peers$638$638
Average Unit SizeSquare Feet1,432 SFSmaller1,437 SF1,437 SF

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Unit mix, closings, budgets, finishes and the team, against 2064 57th and 2074 57th, cited to the offering plans. No credit card required, and it also connects to ChatGPT and Claude, with limited access.

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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.

⚠ Read from a partly legible Schedule B.

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Closings Pro

Homes closed100% of the homes in Schedule A3 of 3
Closing prices vs. Schedule A3 homes: $2,506,010 at closing against $2,565,000 in Schedule A (p. 28)−2.3%
Average closing price3 homes, on their Schedule A square feet$583 / SF
Closingsfirst and latest recordedMar 7, 2019 – Apr 18, 2019

Sales recorded with the Department of Finance (ACRIS) through Aug 31, 2022: 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 3 closings
HomeRecordedClosing priceSchedule ADifference
2Mar 7, 2019$712,775$715,000 p. 28−0.3%
1Apr 12, 2019$999,000$1,100,000 p. 28−9.2%
3Apr 18, 2019$794,235$750,000 p. 28+5.9%

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Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page, here and in ChatGPT or Claude.

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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
18th Avenue Builders LLC
Principals
Nahman Lichtenstein
Tax estimate
N.C. Caller, PCPrepared the first-year real estate tax projection
Construction lender
SS Sontag QI

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

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