THE CONDO BOOK PROJECT

5221 12th Avenue Condominium

5221 12th Avenue, Brooklyn, NY 11219

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Overview

Units
2 residential
Subway
4 min walk to 50 St D55 St D, 4 min
Principals
Chaskel Zenwirth, Jacob Zenwirth, Kreindy Zenwirth, Malka Zenwirth
Common charges
$431 a monthSponsor's first-year estimate in Schedule A, 7/1/2021 - 6/30/2022
Offering price
$350,000 total

The sponsor of record is Chaskel, Malka, Kreindy & Jacob Zenwirth, represented by Law Offices Of Hershy Itzkowitz, P.C.. The offering plan runs 286 pages. The sponsor has filed 1 amendment, the latest in August 2022. The nearest other condo plan on file is 5210 12th Avenue Condominium, next door.

Plan CD200284 · New · accepted Jul 28, 2021 · AG record ↗

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FigureThis building11455 47th23 units · 0.6 miaccepted 20201568 38th33 units · 0.9 miaccepted 2021
Average Offering PricePer Apartment$350,000Lowest$550,000$850,000

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Unit mix, closings, budgets, finishes and the team, against 1455 47th and 1568 38th, 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 closed100% of the homes in Schedule A2 of 2
Closing prices vs. Schedule A1 home: $985,000 at closing against $350,000 in Schedule A (p. 33)+181.4%
Closingsfirst and latest recordedOct 10, 2024 – Dec 9, 2024

Sales recorded with the Department of Finance (ACRIS) through Dec 31, 2024: 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 2 closings
HomeRecordedClosing priceSchedule ADifference
1Oct 10, 2024$202,697——
2Dec 9, 2024$985,000$350,000 p. 33+181.4%

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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
Chaskel, Malka, Kreindy & Jacob Zenwirth
Principals
Chaskel Zenwirth, Jacob Zenwirth, Kreindy Zenwirth, Malka Zenwirth
Tax estimate
Empire Consulting, IncPrepared the first-year real estate tax projection

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

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