THE CONDO BOOK PROJECT

483 Hart Street Condominium

483 Hart Street, Brooklyn, NY 11221

Overview

Units
2 residential
Subway
5 min walk to Myrtle Av J M ZKosciuszko St J, 6 min
Principals
Eyal Michael Bollag, Tomer Hillel
Average $/sf
$497Homes in Schedule A, as first offered
Common charges
$691–$832 a monthSponsor's first-year estimate in Schedule A, January 1, 2022 - December 31, 2022
Offering price
$2 million total

The sponsor of record is Heart Of Bushwick LLC, represented by Law Office Of Jay Lichtman, P.C.. The offering plan runs 334 pages. The sponsor has filed 1 amendment, the latest in May 2022. The nearest other condo plan on file is 894 Willoughby Avenue Condominium, next door.

Plan CD210010 · New · accepted Apr 16, 2021 · AG record ↗

Compare

FigureThis building1217 Lee23 units · 1.3 miaccepted 2023533 Throop32 units · 0.9 miaccepted 2021
Common ChargesPer Square Foot / Month$0.38In line$0.24$0.42
Average Offering PricePer Apartment$1MIn line$812,500$1.73M
Average PricePer Square Foot$497In line$449$1,053
Property TaxesPer Square Foot / Month$0.52Lowest$0.83$0.93
Average Unit SizeSquare Feet2,013 SFLarger1,811 SF1,638 SF

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Unit mix, closings, budgets, finishes and the team, against 217 Lee and 533 Throop, 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
Heart Of Bushwick LLC
Principals
Eyal Michael Bollag, Tomer Hillel
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Julem Capital$350,000 recorded

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

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