THE CONDO BOOK PROJECT

514 Maple Street Condominium

514 Maple Street, Brooklyn, NY 11225

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Overview

Units
10 residential
Subway
11 min walk to Sterling St 2 5Winthrop St 2 5, 12 min
Principals
Pierre Bernard
Average $/sf
$840Homes in Schedule A, as first offered
Common charges
$168–$604 a monthSponsor's first-year estimate in Schedule A, From October 1, 2022 To September 30, 2023
Offering price
$7.06 million total

The sponsor of record is Vpmb Holdings, Inc., represented by Marcus Attorneys, Pllc. The offering plan runs 322 pages. The nearest other condo plan on file is 518 Maple Street Condominium, next door.

Plan CD220014 · New · accepted Dec 7, 2022 · AG record ↗

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FigureThis building11489 Sterling Place28 units · 1.1 miaccepted 2022Winthrop Gardens310 units · 0.7 miaccepted 2022
Common ChargesPer Square Foot / Month$0.38 ⚠Below peers$0.41$0.53
Average Offering PricePer Apartment$706,000In line$572,250$807,500
Average PricePer Square Foot$840Below peers$903$1,057
Property TaxesPer Square Foot / Month$0.01Lowest$0.31$0.42
Average Unit SizeSquare Feet841 SFLarger634 SF764 SF

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Unit mix, closings, budgets, finishes and the team, against 1489 Sterling Place and Winthrop Gardens, 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.

⚠ Read from a partly legible Schedule B.

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
Vpmb Holdings, Inc.
Principals
Pierre Bernard
Tax estimate
Metropolitan Realty ExemptionsPrepared the first-year real estate tax projection

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

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