470 Second Street Condominium
470 2nd Street, Brooklyn, NY 11215
Overview
- Units
- 2 residential
- Subway
- 8 min walk to 7 Av F GUnion St R, 11 min
- Principals
- Carlos Saavedra
- Average $/sf
- $1,490Homes in Schedule A, as first offered
- Offering price
- $7.09 million total
- Floor plans
- Pages 225–226 of the plan
The sponsor of record is 470 Second Street Condominium LLC / Se Second Street LLC, represented by Marans Newman Tsolis & Nazinitsky LLC. The offering plan runs 304 pages. The sponsor has filed 3 amendments, the latest in January 2024. The nearest other condo plan on file is 484 Second Street Condominium, next door.
Plan CD220153 · Rehab · accepted Mar 8, 2023 · AG record ↗
Compare
| Figure | This building1 | 189 Prospect Place22 units · 0.7 miaccepted 2023 | 371 Douglass33 units · 0.5 miaccepted 2022 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $0.33 ⚠In line | $0.19 | $0.35 |
| Average Offering PricePer Apartment | $3.54MIn line | $3.88M | $2.4M |
| Average PricePer Square Foot | $1,490In line | $1,470 | $1,530 |
| Average Unit SizeSquare Feet | 2,380 SFIn line | 2,636 SF | 1,568 SF |
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Unit mix, closings, budgets, finishes and the team, against 189 Prospect Place and 371 Douglass, cited to the offering plans. No credit card required.
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- 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.
⚠ Read from a partly legible Schedule B.
Units & Prices
Closings Pro
| Homes closed100% of the homes in Schedule A | 2 of 2 |
| Closing prices vs. Schedule A2 homes: $7,150,000 at closing against $7,090,000 in Schedule A (p. 47) | +0.8% |
| Average closing price2 homes, on their Schedule A square feet | $1,502 / SF |
| Closingsfirst and latest recorded | Sep 11, 2023 – Sep 28, 2023 |
Sales recorded with the Department of Finance (ACRIS) through Jan 31, 2024: 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 2 closings
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| 2 | Sep 11, 2023 | $3,300,000 | $3,395,000 p. 47 | −2.8% |
| 1 | Sep 28, 2023 | $3,850,000 | $3,695,000 p. 47 | +4.2% |
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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.
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
- 470 Second Street Condominium LLC / Se Second Street LLC
- Principals
- Carlos Saavedra
- Tax estimate
- MGNY Consulting Corp.Prepared the first-year real estate tax projection
- Construction lender
- S3 Capital$3.3 million recorded
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- 484 Second Street Condominiumnext door · 4 units · 2005
- 486 3rd Street Condominiumnext door · 5 units · 2006
- Homage On 3rd Street Condominiumnext door · 4 units · 2020
- 446 Third Street Condominiumsnext door · 4 units · 2005
- 291 Condominiumnext door · 4 units · 2025
- 415 Fourth Street Condominiumnext door · 3 units · 2006