THE CONDO BOOK PROJECT

50 1st Place Condominium

50 1st Place, Brooklyn, NY 11231

Compare

Overview

Units
5 residential
Subway
5 min walk to Carroll St F GSmith-9 Sts F G, 11 min
Average $/sf
$1,664Homes in Schedule A, as first offered
Common charges
$658–$1,143 a monthSponsor's first-year estimate in Schedule A, January 1, 2018 - December 31, 2018
Offering price
$14.6 million total $14.7 million when first offered

The sponsor of record is 50 1st Place Development, LLC, represented by Goldstick, Weinberger, Feldman & Grossman, PC. The offering plan runs 329 pages. The sponsor has filed 5 amendments, the latest in April 2021. The nearest other condo plan on file is 68 1st Place Condominium, next door.

Plan CD170222 · New · accepted Apr 12, 2018 · AG record ↗

Compare

FigureThis building1Bentyn210 units · 0.9 miaccepted 2018341 Union34 units · 0.3 miaccepted 2019
Common ChargesPer Square Foot / Month$0.47In line$0.57$0.38
Average Offering PricePer Apartment$2.82MHighest$1.85M$2.13M
Average PricePer Square Foot$1,664In line$1,431$1,844
Property TaxesPer Square Foot / Month$0.19Lowest$0.42$0.30
Average Unit SizeSquare Feet1,694 SFLargest1,296 SF1,153 SF

Free Account

See the Full Comp

Unit mix, closings, budgets, finishes and the team, against Bentyn and 341 Union, cited to the offering plans. No credit card required.

Create a free account
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 A5 of 5
Closing prices vs. Schedule A3 homes: $7,250,000 at closing against $7,700,000 in Schedule A (p. 22)−5.8%
Average closing price3 homes, on their Schedule A square feet$1,665 / SF
Closingsfirst and latest recordedAug 19, 2019 – May 14, 2021

Sales recorded with the Department of Finance (ACRIS) through May 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
4Aug 19, 2019$2,170,000$2,700,000 p. 22−19.6%
2Sep 4, 2019$2,750,000$2,500,000 p. 22+10%
3Dec 16, 2019$2,330,000$2,500,000 p. 22−6.8%
GARAGDec 16, 2019$2,330,000——
1Dec 18, 2020$2,448,500——
5May 14, 2021$2,675,000——

Pro

Closings are for subscribers

Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.

Subscribe to seeAlready a member? Sign in

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
50 1st Place Development, LLC
Tax estimate
Tuchman, Korngold, Weiss, Liebman & Gelles, LLPPrepared the first-year real estate tax projection

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

Nearby