THE CONDO BOOK PROJECT

467 Tompkins Avenue Condominium

467 Tompkins Avenue, Brooklyn, NY 11216

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Overview

Units
7 residential
Subway
5 min walk to Kingston-Throop Avs CNostrand Av A C, 8 min
Principals
Eduard Katanov, Arkadiy Nagorev
Average $/sf
$1,049Homes in Schedule A, as first offered
Common charges
$173–$559 a monthSponsor's first-year estimate in Schedule A, July 1, 2022 to June 30, 2023
Offering price
$4.74 million total $4.68 million when first offered

The sponsor of record is 467 Tompkins Group LLC, represented by Eial Girtz, PC. The offering plan runs 266 pages. The sponsor has filed 3 amendments, the latest in May 2023. The nearest other condo plan on file is 76 Macdonough Condominium, next door.

Plan CD210069 · New · accepted Jul 14, 2021 · AG record ↗

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FigureThis building1676 Halsey27 units · 0.9 miaccepted 2021668 Nostrand39 units · 0.5 miaccepted 2021
Common ChargesPer Square Foot / Month$0.41Below peers$0.47$0.65
Average Offering PricePer Apartment$668,714Below peers$689,857$697,778
Average PricePer Square Foot$1,049Below peers$1,066$1,053
Property TaxesPer Square Foot / Month$0.77Above peers$0.73$0.62
Average Unit SizeSquare Feet637 SFSmaller647 SF662 SF

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Unit mix, closings, budgets, finishes and the team, against 676 Halsey and 668 Nostrand, 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 A7 of 7
Closing prices vs. Schedule A7 homes: $4,376,812 at closing against $4,681,000 in Schedule A (p. 36)−6.5%
Average closing price7 homes, on their Schedule A square feet$981 / SF
Closingsfirst and latest recordedApr 27, 2023 – Dec 19, 2023

Sales recorded with the Department of Finance (ACRIS) through May 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 7 closings
HomeRecordedClosing priceSchedule ADifference
2BApr 27, 2023$515,000$549,000 p. 36−6.2%
4BMay 4, 2023$895,000$999,000 p. 36−10.4%
3BMay 5, 2023$535,000$549,000 p. 36−2.6%
4AMay 9, 2023$529,791$499,000 p. 36+6.2%
2AMay 11, 2023$485,000$525,000 p. 36−7.6%
3AMay 18, 2023$530,000$510,000 p. 36+3.9%
1Dec 19, 2023$887,021$1,050,000 p. 36−15.5%

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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
467 Tompkins Group LLC
Principals
Eduard Katanov, Arkadiy Nagorev
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
LYZ$1.3 million loan stated in the plan

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

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