THE CONDO BOOK PROJECT

510 Driggs Avenue Condominium

510 Driggs Avenue, Brooklyn, NY 11211

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Overview

Units
44 residential · 1 parking · 21 storage · 2 commercial
Subway
2 min walk to Bedford Av LMetropolitan Av/Lorimer St G L, 8 min
Developer
Northlink Capital
Principals
Robert Rosenthal
Offering price
$126.8 million total

The sponsor of record is Driggs Partners LLC, represented by Marans Newman Tsolis & Nazinitsky LLC. The offering plan runs 396 pages. The sponsor has filed 7 amendments, the latest in February 2023. The nearest other condo plan on file is Bedford Condominium, next door.

Plan CD200053 · New · accepted Jun 28, 2021 · AG record ↗

Closings Pro

Homes closed100% of the homes in the plan44 of 44
Closingsfirst and latest recordedOct 24, 2022 – Sep 8, 2023

Sales recorded with the Department of Finance (ACRIS) through Sep 30, 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 61 closings
HomeRecordedClosing priceSchedule ADifference
PHAOct 24, 2022$3,309,313——
4COct 31, 2022$809,509——
5AOct 31, 2022$2,469,256one deed, 2 homes——
5EOct 31, 2022$1,135,266——
TER-AOct 31, 2022$2,469,256one deed, 2 homes——
2DNov 1, 2022$2,840,918one deed, 2 homes——
3JNov 1, 2022$1,079,345——
4ANov 1, 2022$4,134,038one deed, 2 homes——
ST-11Nov 1, 2022$2,840,918one deed, 2 homes——
ST-15Nov 1, 2022$4,134,038one deed, 2 homes——
2ENov 2, 2022$982,611——
3LNov 2, 2022$2,326,701one deed, 2 homes——
ST-20Nov 2, 2022$2,326,701one deed, 2 homes——
3FNov 3, 2022$1,960,131one deed, 2 homes——
ST-3Nov 3, 2022$1,960,131one deed, 2 homes——
3BNov 4, 2022$2,952,925——
3CNov 4, 2022$775,000——
3GNov 4, 2022$1,415,368one deed, 2 homes——
3KNov 4, 2022$1,104,801——
ST-8Nov 4, 2022$1,415,368one deed, 2 homes——
4DNov 9, 2022$2,963,108one deed, 2 homes——
TER-FNov 9, 2022$2,963,108one deed, 2 homes——
3ANov 10, 2022$1,731,025——
4BNov 10, 2022$2,983,473one deed, 2 homes——
ST-13Nov 10, 2022$2,983,473one deed, 2 homes——
4GNov 15, 2022$1,400,094——
4JNov 15, 2022$1,145,531——
4FNov 18, 2022$1,990,679one deed, 3 homes——
5DNov 18, 2022$2,800,188one deed, 2 homes——
5JNov 18, 2022$1,221,900——
ST-9Nov 18, 2022$2,800,188one deed, 2 homes——
ST-12Nov 18, 2022$1,990,679one deed, 3 homes——
TER-ENov 18, 2022$1,990,679one deed, 3 homes——
2ANov 22, 2022$1,629,200——
5BNov 22, 2022$2,800,188——
5KNov 28, 2022$1,415,368one deed, 2 homes——
ST-14Nov 28, 2022$1,415,368one deed, 2 homes——
3ENov 30, 2022$1,018,250——
4ENov 30, 2022$1,221,900——
4HNov 30, 2022$1,125,000——
4KNov 30, 2022$1,094,901——
PHDDec 7, 2022$3,014,020one deed, 2 homes——
ST-2Dec 7, 2022$3,014,020one deed, 2 homes——
3HDec 9, 2022$1,337,091——
5GDec 9, 2022$1,272,813——
5HDec 9, 2022$1,267,721one deed, 3 homes——
ST-1Dec 9, 2022$1,267,721one deed, 3 homes——
TER-DDec 9, 2022$1,267,721one deed, 3 homes——
5FDec 14, 2022$1,578,288one deed, 2 homes——
TER-BDec 14, 2022$1,578,288one deed, 2 homes——
PHEDec 15, 2022$3,113,288one deed, 2 homes——
ST-6Dec 15, 2022$3,113,288one deed, 2 homes——
3MDec 16, 2022$750,000——
PHBJan 17, 2023$2,575,000——
2FJan 30, 2023$2,031,409——
2BFeb 24, 2023$2,864,056——
2CMar 24, 2023$755,000——
3DApr 18, 2023$2,999,900——
PHCJun 21, 2023$3,350,000——
2GSep 1, 2023$2,400,000——
2HSep 8, 2023$814,600——

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
Driggs Partners LLC
Developer
Northlink CapitalReported by commercialobserver.com
Principals
Robert Rosenthal
Tax estimate
Tuchman, Korngold, Weiss, Liebman & Lindemann, LLPPrepared the first-year real estate tax projection
Construction lender
Bank Leumi$46.6 million recorded

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