THE CONDO BOOK PROJECT

460 7th Avenue Condominium

460 7th Avenue, Brooklyn, NY 11215

Overview

Units
3 residential
Subway
7 min walk to 7 Av F G15 St-Prospect Park F G, 7 min
Principals
Abigail Coover
Average $/sf
$1,986Homes in Schedule A, as first offered
Common charges
$366–$498 a monthSponsor's first-year estimate in Schedule A, January 1, 2022 - December 30, 2022
Offering price
$4.49 million total

The sponsor of record is 460 Seventh Avenue Bk LLC, represented by Tsyngauz & Associates, P.C.. The offering plan runs 281 pages. The nearest other condo plan on file is 315-317 16th Street Condo, next door.

Plan CD200128 · Rehab · accepted Nov 1, 2021 · AG record ↗

Compare

FigureThis building1494 Seventh23 units · 0.4 miaccepted 2022708 Degraw33 units · 1.1 miaccepted 2022
Common ChargesPer Square Foot / Month$0.60Highest$0.49$0.42
Average Offering PricePer Apartment$1.5MLowest$1.92M$2.1M
Average PricePer Square Foot$1,986Above peers$1,684$1,771
Property TaxesPer Square Foot / Month$0.27In line$0.53$0.16
Average Unit SizeSquare Feet753 SFSmallest1,138 SF1,186 SF

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Unit mix, closings, budgets, finishes and the team, against 494 Seventh and 708 Degraw, 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
460 Seventh Avenue Bk LLC
Principals
Abigail Coover
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Loan Funder$2.38 million loan stated in the plan

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

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