THE CONDO BOOK PROJECT

Dewitt Condominium

483 Washington Avenue, Brooklyn, NY 11238

Overview

Units
0 residential · 7 parking · 16 commercial
Subway
1 min walk to Clinton-Washington Avs CClinton-Washington Avs G, 6 min
Developer
Urban Builders Collaborative, LLC
Principals
Deborah Howard, Nicholas A. Lettire
Average $/sf
$562Homes in Schedule A, as first offered
Offering price
$10.1 million total

The sponsor of record is 483 Washington Avenue, LLC, represented by Hirschen Singer & Epstein LLP. The offering plan runs 376 pages. The sponsor has filed 8 amendments, the latest in May 2011. The nearest other condo plan on file is 475 Washington Avenue Condominium, next door.

Plan CD060832 · New · accepted May 30, 2007 · AG record ↗

Closings Pro

Homes closed100% of the homes in Schedule A16 of 16
Closing prices vs. Schedule A16 homes: $8,775,600 at closing against $9,557,930 in Schedule A (p. 15)−8.2%
Average closing price16 homes, on their Schedule A square feet$516 / SF
Closingsfirst and latest recordedFeb 15, 2008 – Oct 12, 2011

Sales recorded with the Department of Finance (ACRIS) through Mar 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 16 closings
HomeRecordedClosing priceSchedule ADifference
3AFeb 15, 2008$429,193$275,035 p. 15+56.1%
3CFeb 20, 2008$320,017$212,100 p. 15+50.9%
2BFeb 26, 2008$753,505$800,000 p. 15−5.8%
4AFeb 28, 2008$445,556$279,140 p. 15+59.6%
5AFeb 28, 2008$453,766$263,245 p. 15+72.4%
5CFeb 29, 2008$332,159$216,160 p. 15+53.7%
2CMar 12, 2008$326,233$221,190 p. 15+47.5%
5BApr 10, 2008$784,053$880,000 p. 15−10.9%
2AApr 14, 2008$420,967$270,930 p. 15+55.4%
4CApr 22, 2008$326,088$215,130 p. 15+51.6%
1AApr 29, 2008$676,118$790,000 p. 15−14.4%
3BMay 7, 2008$711,757$830,000 p. 15−14.2%
4BSep 12, 2008$605,859$840,000 p. 15−27.9%
6AMar 20, 2009$735,331$1,100,000 p. 15−33.2%
7ANov 29, 2010$780,000$1,265,000 p. 15−38.3%
6BOct 12, 2011$675,000$1,100,000 p. 15−38.6%

Pro

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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
483 Washington Avenue, LLC
Developer
Urban Builders Collaborative, LLC
Principals
Deborah Howard, Nicholas A. Lettire
Tax estimate
Hirschen Singer & Epstein LLPPrepared the first-year real estate tax projection
Construction lender
North Fork Bank$5.35 million recorded

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

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