THE CONDO BOOK PROJECT

4529 18th Avenue Condominium

4529 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
$580Homes in Schedule A, as first offered
Common charges
$277–$399 a monthSponsor's first-year estimate in Schedule A, 1/1/2023 - 12/31/2023
Offering price
$2.57 million total

The sponsor of record is Lev Boro Park LLC, represented by Law Office Of Hershy Itzkowitz, Esq. The offering plan runs 304 pages. The nearest other condo plan on file is 4515 18th Avenue Condominium, next door.

Plan CD210275 · New · accepted Jan 5, 2023 · AG record ↗

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FigureThis building11152 47th24 units · 1 miaccepted 20221601 55th33 units · 0.6 miaccepted 2022
Common ChargesPer Square Foot / Month$0.23Above peers$0.20$0.17
Average Offering PricePer Apartment$858,000In line$748,750$1.29M
Average PricePer Square Foot$580Below peers$591$623
Property TaxesPer Square Foot / Month$0.43In line$0.48$0.20
Average Unit SizeSquare Feet1,480 SFIn line1,266 SF2,476 SF

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Unit mix, closings, budgets, finishes and the team, against 1152 47th and 1601 55th, 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 A3 of 3
Closing prices vs. Schedule A3 homes: $2,225,950 at closing against $2,574,000 in Schedule A (p. 37)−13.5%
Average closing price3 homes, on their Schedule A square feet$501 / SF
Closingsfirst and latest recordedAug 1, 2023 – Sep 14, 2023

Sales recorded with the Department of Finance (ACRIS) through Apr 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 3 closings
HomeRecordedClosing priceSchedule ADifference
3Aug 1, 2023$700,000$800,000 p. 37−12.5%
2Aug 21, 2023$610,950$775,000 p. 37−21.2%
1Sep 14, 2023$915,000$999,000 p. 37−8.4%

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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
Lev Boro Park LLC
Principals
Nahman Lichtenstein
Tax estimate
Empire Consulting Service, IncPrepared the first-year real estate tax projection

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

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