THE CONDO BOOK PROJECT

53 Prospect Park Condominium

53 Prospect Park Sw, Brooklyn, NY 11215

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Overview

Units
5 residential
Subway
4 min walk to 15 St-Prospect Park F GFort Hamilton Pkwy F G, 11 min
Average $/sf
$1,662Homes in Schedule A, as first offered
Common charges
$455–$673 a monthSponsor's first-year estimate in Schedule A, January 1, 2024 - December 31, 2024
Offering price
$9.12 million total $8.98 million when first offered

The sponsor of record is 53 Prospect Park Sw LLC, represented by Tsyngauz & Associates, P.C.. The offering plan runs 310 pages. The sponsor has filed 2 amendments, the latest in April 2024. The nearest other condo plan on file is 543 16th Street Condominium, next door.

Plan CD230017 · New · accepted Sep 21, 2023 · AG record ↗

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FigureThis building1341 13th24 units · 0.6 miaccepted 2023442 3rd34 units · 0.9 miaccepted 2023
Common ChargesPer Square Foot / Month$0.56Highest$0.46$0.30
Average Offering PricePer Apartment$1.82MBelow peers$1.91M$2.44M
Average PricePer Square Foot$1,662Above peers$1,661$1,605
Property TaxesPer Square Foot / Month$1.29In line$1.60$0.39
Average Unit SizeSquare Feet1,098 SFSmaller1,148 SF1,519 SF

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Unit mix, closings, budgets, finishes and the team, against 341 13th and 442 3rd, 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 A5 of 5
Closing prices vs. Schedule A5 homes: $9,289,495 at closing against $9,123,000 in Schedule A (p. 41)+1.8%
Average closing price5 homes, on their Schedule A square feet$1,693 / SF
Closingsfirst and latest recordedMay 10, 2024 – Jun 24, 2024

Sales recorded with the Department of Finance (ACRIS) through Apr 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 5 closings
HomeRecordedClosing priceSchedule ADifference
4May 10, 2024$1,933,657$1,899,000 p. 41+1.8%
1May 20, 2024$1,373,619$1,349,000 p. 41+1.8%
5May 28, 2024$2,031,409$1,995,000 p. 41+1.8%
3May 30, 2024$1,919,401$1,885,000 p. 41+1.8%
2Jun 24, 2024$2,031,409$1,995,000 p. 41+1.8%

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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
53 Prospect Park Sw LLC
Tax estimate
MGNY Consulting Corp.Prepared the first-year real estate tax projection

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

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