THE CONDO BOOK PROJECT

46 Kossuth Place Condominium

46 Kossuth Place, Brooklyn, NY 11221

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Overview

Units
10 residential
Subway
2 min walk to Kosciuszko St JGates Av J Z, 8 min
Principals
Leslie Xia, Joseph Rubin
Average $/sf
$1,023Homes in Schedule A, as first offered
Common charges
$278–$613 a monthSponsor's first-year estimate in Schedule A, Year Projected to Begin: July 1, 2023- June 30, 2024
Offering price
$9.56 million total $9.22 million when first offered

The sponsor of record is 856 Bushwick Avenue Realty LLC, represented by Law Office Of Jay Lichtman, P.C.. The offering plan runs 369 pages. The sponsor has filed 2 amendments, the latest in December 2023. The nearest other condo plan on file is 1143 Lafayette Avenue Condominium, next door.

Plan CD220173 · New · accepted Dec 21, 2022 · AG record ↗

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FigureThis building168 Eldert210 units · 0.9 miaccepted 2022Hastings House310 units · 0.7 miaccepted 2022
Common ChargesPer Square Foot / Month$0.48Below peers$0.50$0.80
Average Offering PricePer Apartment$922,200Above peers$873,500$753,000
Average PricePer Square Foot$1,023In line$1,021$1,039
Property TaxesPer Square Foot / Month$1.21Highest$0.97$0.21
Average Unit SizeSquare Feet901 SFLarger856 SF725 SF

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Unit mix, closings, budgets, finishes and the team, against 68 Eldert and Hastings House, 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 A10 of 10
Closing prices vs. Schedule A10 homes: $9,264,466 at closing against $9,221,999 in Schedule A (p. 34)+0.5%
Average closing price10 homes, on their Schedule A square feet$1,028 / SF
Closingsfirst and latest recordedJul 17, 2023 – Mar 14, 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 10 closings
HomeRecordedClosing priceSchedule ADifference
1BJul 17, 2023$1,099,000$999,999 p. 34+9.9%
2BJul 18, 2023$1,150,000$1,150,000 p. 340%
1AJul 20, 2023$999,000$899,000 p. 34+11.1%
3CJul 25, 2023$975,000$965,000 p. 34+1%
2CAug 7, 2023$942,000$950,000 p. 34−0.8%
3AOct 18, 2023$635,000$620,000 p. 34+2.4%
4AOct 19, 2023$650,000$630,000 p. 34+3.2%
2ANov 1, 2023$604,466$610,000 p. 34−0.9%
4BFeb 12, 2024$1,100,000$1,199,000 p. 34−8.3%
4CMar 14, 2024$1,110,000$1,199,000 p. 34−7.4%

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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
856 Bushwick Avenue Realty LLC
Principals
Leslie Xia, Joseph Rubin
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
S3 Capital$4 million recorded

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

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