THE CONDO BOOK PROJECT

Herbert Street Villas

52 Herbert Street, Brooklyn, NY 11222

Overview

Units
8 residential
Subway
8 min walk to Graham Av LNassau Av G, 12 min
Principals
Rafi Manor
Average $/sf
$1,506Homes in Schedule A, as first offered
Offering price
$8.38 million total

The sponsor of record is 52 Herbert Villa LLC, represented by Law Offices Of Hershy Itzkowitz, P.C.. The offering plan runs 336 pages. The sponsor has filed 4 amendments, the latest in April 2022. The nearest other condo plan on file is 508 Humboldt St Condo, next door.

Plan CD180335 · New · accepted Sep 11, 2020 · AG record ↗

Compare

FigureThis building1Ainslie Street Condominiums27 units · 0.5 miaccepted 202081 Mcguinness38 units · 0.5 miaccepted 2020
Common ChargesPer Square Foot / Month$0.50Below peers$0.61$0.57
Average Offering PricePer Apartment$1.05MIn line$950,714$1.54M
Average PricePer Square Foot$1,506In line$1,480$1,628
Average Unit SizeSquare Feet696 SFIn line642 SF946 SF

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Unit mix, closings, budgets, finishes and the team, against Ainslie Street Condominiums and 81 Mcguinness, 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.

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
52 Herbert Villa LLC
Principals
Rafi Manor
Tax estimate
Metropolitan Realty Exemptions, IncPrepared the first-year real estate tax projection
Construction lender
Genesis Capital$2.1 million recorded

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

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