THE CONDO BOOK PROJECT

51 South 1st Street Condominium

51 South 1st Street, Brooklyn, NY 11249

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Overview

Units
8 residential
Subway
11 min walk to Bedford Av LMarcy Av J M Z, 15 min
Principals
Tomer Erlich, Einav Gelberg
Average $/sf
$2,463Homes in Schedule A, as first offered
Common charges
$387–$1,052 a monthSponsor's first-year estimate in Schedule A, July 1, 2026 to June 30, 2027
Offering price
$28.9 million total

The sponsor of record is 51 S 1 LLC, represented by Eial Girtz, PC. The offering plan runs 265 pages. The sponsor has filed 1 amendment, the latest in December 2025. The nearest other condo plan on file is Esquire Building Condominium, next door.

Plan CD250011 · New · accepted Jul 8, 2025 · AG record ↗

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FigureThis building1Samuel26 units · 1 miaccepted 2026Orson36 units · 0.8 miaccepted 2025
Common ChargesPer Square Foot / Month$0.59Above peers$0.52$0.51
Average Offering PricePer Apartment$3.61MAbove peers$3.31M$2.27M
Average PricePer Square Foot$2,463Above peers$2,265$1,827
Property TaxesPer Square Foot / Month$0.63Lowest$0.91$1.26
Average Unit SizeSquare Feet1,465 SFLarger1,463 SF1,241 SF

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Unit mix, closings, budgets, finishes and the team, against Samuel and Orson, 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 closed88% of the homes in Schedule A7 of 8
Closing prices vs. Schedule A7 homes: $21,458,999 at closing against $23,363,600 in Schedule A (p. 43)−8.2%
Average closing price7 homes, on their Schedule A square feet$2,187 / SF
Closingsfirst and latest recordedMar 13, 2026 – Apr 7, 2026

Sales recorded with the Department of Finance (ACRIS) through Aug 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 7 closings
HomeRecordedClosing priceSchedule ADifference
4AMar 13, 2026$3,999,999$4,250,000 p. 43−5.9%
3AMar 27, 2026$3,950,000$4,072,100 p. 43−3%
1BMar 30, 2026$2,745,000$3,196,200 p. 43−14.1%
2AMar 30, 2026$1,475,000$1,478,400 p. 43−0.2%
2BMar 31, 2026$2,195,000$2,198,700 p. 43−0.2%
5AApr 3, 2026$4,095,000$4,495,000 p. 43−8.9%
1AApr 7, 2026$2,999,000$3,673,200 p. 43−18.4%

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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
51 S 1 LLC
Principals
Tomer Erlich, Einav Gelberg
Tax estimate
MGNY Consulting Corp.Prepared the first-year real estate tax projection
Construction lender
Conventus$7.5 million loan stated in the plan

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

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