THE CONDO BOOK PROJECT

473 Bainbridge Street Condominium

473 Bainbridge Street, Brooklyn, NY 11233

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Overview

Units
6 residential
Subway
7 min walk to Halsey St JChauncey St J Z, 7 min
Principals
Beniamin Sadykov, Ben Sadykov
Average $/sf
$1,076Homes in Schedule A, as first offered
Common charges
$311–$795 a monthSponsor's first-year estimate in Schedule A, July 1, 2022 - June 31, 2023
Offering price
$4.04 million total $3.72 million when first offered

The sponsor of record is 473 Bainbridge Holdings LLC, represented by Law Offices Of Hershy Itzkowitz, P.C.. The offering plan runs 268 pages. The sponsor has filed 2 amendments, the latest in June 2022. The nearest other condo plan on file is 491 Bainbridge Street Condominium, next door.

Plan CD200111 · New · accepted Jan 5, 2022 · AG record ↗

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FigureThis building11228 Putnam26 units · 0.6 miaccepted 2021676 Halsey37 units · 0.5 miaccepted 2021
Common ChargesPer Square Foot / Month$0.70Highest$0.51$0.47
Average Offering PricePer Apartment$673,833In line$612,000$689,857
Average PricePer Square Foot$1,076Above peers$986$1,066
Property TaxesPer Square Foot / Month$0.70In line$0.45$0.73
Average Unit SizeSquare Feet626 SFIn line621 SF647 SF

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Unit mix, closings, budgets, finishes and the team, against 1228 Putnam and 676 Halsey, 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 A6 of 6
Closing prices vs. Schedule A6 homes: $3,641,300 at closing against $4,043,000 in Schedule A (p. 33)−9.9%
Average closing price6 homes, on their Schedule A square feet$969 / SF
Closingsfirst and latest recordedNov 9, 2022 – Mar 19, 2024

Sales recorded with the Department of Finance (ACRIS) through Jul 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 6 closings
HomeRecordedClosing priceSchedule ADifference
2BNov 9, 2022$445,000$499,000 p. 33−10.8%
3BMar 28, 2023$450,000$599,000 p. 33−24.9%
1AMar 31, 2023$995,000$1,050,000 p. 33−5.2%
4AApr 4, 2023$795,000$845,000 p. 33−5.9%
3AApr 28, 2023$500,000$575,000 p. 33−13%
2AMar 19, 2024$456,300$475,000 p. 33−3.9%

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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
473 Bainbridge Holdings LLC
Principals
Beniamin Sadykov, Ben Sadykov
Tax estimate
Metropolitan Realty, IncPrepared the first-year real estate tax projection
Construction lender
Sharestates Investments$1.6 million loan stated in the plan

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

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