THE CONDO BOOK PROJECT

4720 15th Avenue Condominium

4720 15th Avenue, Brooklyn, NY 11219

Overview

Units
6 residential · 1 parking · 2 storage · 1 commercial
Subway
11 min walk to 50 St D55 St D, 13 min
Principals
Juda Klein
Average $/sf
$1,000Homes in Schedule A, as first offered
Common charges
$184–$490 a monthSponsor's first-year estimate in Schedule A, January 1, 2024 - December 31, 2024
Offering price
$10.3 million total

The sponsor of record is 4720 LLC, represented by Law Offices Of Hershy Itzkowitz, P.C.. The offering plan runs 312 pages. The nearest other condo plan on file is 1473 47th Street Condominium, next door.

Plan CD220266 · New · accepted Oct 25, 2023 · AG record ↗

Compare

FigureThis building11155 46th28 units · 0.5 miaccepted 20231476 45th34 units · 0.1 miaccepted 2023
Common ChargesPer Square Foot / Month$0.25In line$0.33$0.24
Average Offering PricePer Apartment$1.16MBelow peers$1.25M$1.95M
Average PricePer Square Foot$1,000In line$1,161$925
Property TaxesPer Square Foot / Month$0.12Lowest$1.03$0.42
Average Unit SizeSquare Feet1,160 SFIn line1,077 SF2,109 SF

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Unit mix, closings, budgets, finishes and the team, against 1155 46th and 1476 45th, 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
4720 LLC
Principals
Juda Klein
Tax estimate
RE Tax Service, LLCPrepared the first-year real estate tax projection
Construction lender
Valley National BankLender on the mortgage and building loan agreement recorded June 2023 in ACRIS; $5 million recorded

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

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