THE CONDO BOOK PROJECT

460 East New York Avenue Condominium

460 East New York Avenue, Brooklyn, NY 11225

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Overview

Units
8 residential
Subway
6 min walk to Sterling St 2 5Winthrop St 2 5, 9 min
Average $/sf
$992Homes in Schedule A, as first offered
Common charges
$109–$538 a monthSponsor's first-year estimate in Schedule A, July 1, 2022 To June 30, 2023
Offering price
$4.6 million total $4.59 million when first offered

The sponsor of record is 460 Eny Ave LLC, represented by Eial Girtz, PC. The offering plan runs 273 pages. The sponsor has filed 4 amendments, the latest in April 2023. The nearest other condo plan on file is 421 Maple Street Condominium, next door.

Plan CD210066 · New · accepted Sep 22, 2021 · AG record ↗

Compare

FigureThis building11226 St. Marks28 units · 1.3 miaccepted 202154 Martense38 units · 0.9 miaccepted 2021
Common ChargesPer Square Foot / Month$0.43In line$0.52$0.40
Average Offering PricePer Apartment$574,000Below peers$606,600$626,875
Average PricePer Square Foot$992In line$986$1,048
Property TaxesPer Square Foot / Month$0.26Lowest$0.31$0.37
Average Unit SizeSquare Feet579 SFSmaller615 SF598 SF

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Unit mix, closings, budgets, finishes and the team, against 1226 St. Marks and 54 Martense, 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 A8 of 8
Closing prices vs. Schedule A8 homes: $4,313,745 at closing against $4,592,000 in Schedule A (p. 40)−6.1%
Average closing price8 homes, on their Schedule A square feet$932 / SF
Closingsfirst and latest recordedSep 16, 2022 – May 25, 2023

Sales recorded with the Department of Finance (ACRIS) through Nov 30, 2023: 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 8 closings
HomeRecordedClosing priceSchedule ADifference
2BSep 16, 2022$499,000$499,000 p. 400%
3BSep 16, 2022$525,000$539,000 p. 40−2.6%
1AOct 7, 2022$359,970$349,000 p. 40+3.1%
3AJan 12, 2023$485,000$539,000 p. 40−10%
2AFeb 3, 2023$481,775$499,000 p. 40−3.5%
1BMar 23, 2023$699,000$769,000 p. 40−9.1%
4BMar 29, 2023$699,000$769,000 p. 40−9.1%
4AMay 25, 2023$565,000$629,000 p. 40−10.2%

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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
460 Eny Ave LLC
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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