516 Classon Avenue Condominium
516 Classon Avenue, Brooklyn, NY 11238
Overview
- Units
- 16 residential
- Subway
- 4 min walk to Franklin Av C SNostrand Av A C, 7 min
- Principals
- Nadav Hamo
- Average $/sf
- $642Homes in Schedule A, as first offered
- Common charges
- $253–$635 a monthSponsor's first-year estimate in Schedule A, 3/1/2016
- Offering price
- $14.4 million total $9.09 million when first offered
- Floor plans
- Page 20 of the plan
The sponsor of record is Classon In Clinton LLC, represented by Jeffrey Zwick & Associates, P.C.. The offering plan runs 275 pages. The sponsor has filed 4 amendments, the latest in May 2017. The nearest other condo plan on file is 87 Irving Place Condominium, next door.
Plan CD140280 · New · accepted Dec 30, 2015 · AG record ↗
Compare
| Figure | This building1 | 399 Gates216 units · 0.5 miaccepted 2017 | 27 Kossuth Place310 units · 1.8 miaccepted 2018 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $0.43In line | $0.59 | $0.35 |
| Average Offering PricePer Apartment | $567,813In line | $578,478 | $500,000 |
| Average PricePer Square Foot | $642Below peers | $850 | $680 |
| Property TaxesPer Square Foot / Month | $0.75Highest | $0.30 | $0.46 |
| Average Unit SizeSquare Feet | 884 SFLargest | 681 SF | 735 SF |
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Unit mix, closings, budgets, finishes and the team, against 399 Gates and 27 Kossuth Place, cited to the offering plans. No credit card required.
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- 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.
Units & Prices
Closings Pro
| Homes closed100% of the homes in Schedule A | 16 of 16 |
| Closing prices vs. Schedule A16 homes: $12,443,921 at closing against $9,085,000 in Schedule A (p. 22) | +37% |
| Average closing price16 homes, on their Schedule A square feet | $879 / SF |
| Closingsfirst and latest recorded | Aug 10, 2016 – May 22, 2018 |
Sales recorded with the Department of Finance (ACRIS) through Feb 28, 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
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| 2A | Aug 10, 2016 | $626,224 | $390,000 p. 22 | +60.6% |
| 1B | Sep 22, 2016 | $1,216,809 | $855,000 p. 22 | +42.3% |
| 2B | Sep 22, 2016 | $789,144 | $550,000 p. 22 | +43.5% |
| 6B | Sep 22, 2016 | $1,098,692 | $730,000 p. 22 | +50.5% |
| 5B | Jan 19, 2017 | $1,063,053 | $730,000 p. 22 | +45.6% |
| 6A | Jan 25, 2017 | $900,000 | $660,000 p. 22 | +36.4% |
| 5A | Mar 23, 2017 | $885,000 | $660,000 p. 22 | +34.1% |
| 7A | Mar 27, 2017 | $1,175,000 | $750,000 p. 22 | +56.7% |
| 4A | Jun 15, 2017 | $630,000 | $390,000 p. 22 | +61.5% |
| 1A | Jun 29, 2017 | $840,000 | $650,000 p. 22 | +29.2% |
| 4B | Jul 11, 2017 | $780,000 | $550,000 p. 22 | +41.8% |
| 3B | Sep 19, 2017 | $770,000 | $550,000 p. 22 | +40% |
| 3A | Nov 10, 2017 | $350,000 | $390,000 p. 22 | −10.3% |
| 2C | Dec 29, 2017 | $620,000 | $410,000 p. 22 | +51.2% |
| 3C | May 17, 2018 | $350,000 | $410,000 p. 22 | −14.6% |
| 4C | May 22, 2018 | $350,000 | $410,000 p. 22 | −14.6% |
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Closings are for subscribers
Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.
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
- Classon In Clinton LLC
- Principals
- Nadav Hamo
- Tax estimate
- Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
- Construction lender
- Builders Bank$3.52 million recorded
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- 87 Irving Place Condominiumnext door · 24 units · 2024
- 531 Classon Avenue Condominiumnext door · 8 units · 2023
- Fulton Classon Condominiumnext door · 30 units · 2006
- 1079 Fulton Street Condominiumnext door · 30 units
- Carlton Condominiumnext door · 28 units · 3 parking · 2012
- 65 Irving Place Condominiumnext door · 6 units · 2019