THE CONDO BOOK PROJECT

526 Union Avenue Condominium

526 Union Avenue, Brooklyn, NY 11211

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Overview

Units
44 residential · 23 parking · 8 storage
Subway
4 min walk to Metropolitan Av/Lorimer St G LBedford Av L, 7 min
Principals
Afshin Dilmanian, Farzad Dilmanian, Joseph Davoudzadeh
Average $/sf
$1,478Homes in Schedule A, as first offered
Common charges
$331–$1,111 a monthSponsor's first-year estimate in Schedule A, For First Full Year Of Operation July 1, 2022- June 30, 2023
Offering price
$52.2 million total

The sponsor of record is Northside Capital Corp, represented by Marans Newman Tsolis & Nazinitsky LLC. The offering plan runs 409 pages. The sponsor has filed 5 amendments, the latest in October 2024. The nearest other condo plan on file is 538 Union Avenue Condominium, next door.

Plan CD210055 · New · accepted Apr 5, 2022 · AG record ↗

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FigureThis building1Parker House224 units · 0.8 miaccepted 2021110 North 1st338 units · 0.6 miaccepted 2023
Common ChargesPer Square Foot / Month$0.82In line$0.57$0.91
Average Offering PricePer Apartment$1.12MIn line$963,167$1.89M
Average PricePer Square Foot$1,478In line$1,426$1,640
Property TaxesPer Square Foot / Month$0.51Lowest$1.22$1.55
Average Unit SizeSquare Feet755 SFIn line675 SF1,153 SF

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Unit mix, closings, budgets, finishes and the team, against Parker House and 110 North 1st, 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 A44 of 44
Closing prices vs. Schedule A44 homes: $53,682,649 at closing against $49,075,000 in Schedule A (p. 57)+9.4%
Average closing price44 homes, on their Schedule A square feet$1,617 / SF
Closingsfirst and latest recordedMar 10, 2023 – Feb 24, 2025

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 44 closings
HomeRecordedClosing priceSchedule ADifference
601Mar 10, 2023$705,138$595,000 p. 57+18.5%
308Mar 15, 2023$1,400,094$1,250,000 p. 57+12%
306Mar 17, 2023$941,881$860,000 p. 57+9.5%
404Mar 17, 2023$661,863$620,000 p. 57+6.8%
305Mar 20, 2023$890,969$850,000 p. 57+4.8%
405Mar 20, 2023$890,969$865,000 p. 57+3%
PH5Mar 20, 2023$1,807,394$1,695,000 p. 57+6.6%
606Mar 22, 2023$972,429$905,000 p. 57+7.5%
408Mar 23, 2023$1,453,552$1,270,000 p. 57+14.5%
507Mar 24, 2023$1,905,146$1,715,000 p. 57+11.1%
304Mar 27, 2023$651,680$605,000 p. 57+7.7%
506Mar 30, 2023$992,794$895,000 p. 57+10.9%
501Mar 31, 2023$730,594$585,000 p. 57+24.9%
205Apr 3, 2023$2,153,599$1,795,000 p. 57+20%
406Apr 4, 2023$952,064$875,000 p. 57+8.8%
605Apr 10, 2023$941,881$895,000 p. 57+5.2%
403Apr 14, 2023$1,517,193$1,405,000 p. 57+8%
401Apr 24, 2023$632,333$570,000 p. 57+10.9%
503Apr 24, 2023$1,634,291$1,530,000 p. 57+6.8%
504Apr 24, 2023$682,228$635,000 p. 57+7.4%
505Apr 24, 2023$906,243$885,000 p. 57+2.4%
604Apr 27, 2023$702,593$645,000 p. 57+8.9%
603May 10, 2023$1,680,113$1,555,000 p. 57+8%
502May 16, 2023$931,699$885,000 p. 57+5.3%
402May 17, 2023$911,334$865,000 p. 57+5.4%
301May 25, 2023$626,224$555,000 p. 57+12.8%
204Jun 1, 2023$1,013,159$855,000 p. 57+18.5%
202Jun 29, 2023$952,064$855,000 p. 57+11.4%
302Jun 30, 2023$911,334$850,000 p. 57+7.2%
PH4Jul 24, 2023$1,216,809$1,145,000 p. 57+6.3%
602Jul 28, 2023$952,064$895,000 p. 57+6.4%
508Aug 2, 2023$1,400,094$1,295,000 p. 57+8.1%
PH3Aug 2, 2023$1,064,071$995,000 p. 57+6.9%
608Aug 14, 2023$1,440,824$1,395,000 p. 57+3.3%
607Aug 28, 2023$1,893,945$1,745,000 p. 57+8.5%
PH6Sep 6, 2023$1,501,919$1,375,000 p. 57+9.2%
PH2Sep 8, 2023$1,756,481$1,475,000 p. 57+19.1%
203Sep 21, 2023$992,794$895,000 p. 57+10.9%
303Dec 4, 2023$1,501,919$1,385,000 p. 57+8.4%
201Mar 25, 2024$1,675,021$1,695,000 p. 57−1.2%
PH1Apr 12, 2024$1,792,120$1,695,000 p. 57+5.7%
307Apr 24, 2024$1,746,299$1,645,000 p. 57+6.2%
407May 10, 2024$1,888,854$1,680,000 p. 57+12.4%
206Feb 24, 2025$1,706,587$1,395,000 p. 57+22.3%

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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
Northside Capital Corp
Principals
Afshin Dilmanian, Farzad Dilmanian, Joseph Davoudzadeh
Tax estimate
The Mazursky Group, Inc.Prepared the first-year real estate tax projection
Construction lender
Popular Bank$22.5 million recorded

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

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