531 Vanderbilt Avenue Condominium
531 Vanderbilt Avenue, Brooklyn, NY 11238
Overview
- Units
- 18 residential
- Subway
- 3 min walk to Clinton-Washington Avs CLafayette Av C, 8 min
- Developer
- Brookland Capital
- Principals
- Boaz Gilad
- Average $/sf
- $1,024Homes in Schedule A, as first offered
- Common charges
- $198–$682 a monthSponsor's first-year estimate in Schedule A, January 1, 2015 - December 31, 2015
- Offering price
- $11.6 million total $10.2 million when first offered
- Floor plans
- Page 23 of the plan
The sponsor of record is Vanderbilt Upreal LLC, represented by Marans, Weisz & Newman LLC. The offering plan runs 284 pages. The sponsor has filed 5 amendments, the latest in October 2015. The nearest other condo plan on file is 525-527 Vanderbilt Avenue Condominium, next door.
Plan CD140163 · New · accepted Nov 3, 2014 · AG record ↗
Compare
| Figure | This building1 | Clinton House222 units · 0.8 miaccepted 2017 | 8 Saint Marks313 units · 0.8 miaccepted 2016 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $0.56Below peers | $0.61 | $0.57 |
| Average Offering PricePer Apartment | $565,417Lowest | $700,682 | $1.51M |
| Average PricePer Square Foot | $1,024Below peers | $1,061 | $1,147 |
| Property TaxesPer Square Foot / Month | $0.65In line | $0.11 | $1.09 |
| Average Unit SizeSquare Feet | 552 SFSmallest | 660 SF | 1,317 SF |
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Unit mix, closings, budgets, finishes and the team, against Clinton House and 8 Saint Marks, 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 | 18 of 18 |
| Closing prices vs. Schedule A18 homes: $10,675,283 at closing against $10,177,500 in Schedule A (p. 22) | +4.9% |
| Average closing price18 homes, on their Schedule A square feet | $1,074 / SF |
| Closingsfirst and latest recorded | Sep 10, 2015 – Mar 22, 2016 |
Sales recorded with the Department of Finance (ACRIS) through Aug 31, 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 18 closings
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| 4A | Sep 10, 2015 | $570,220 | $603,750 p. 22 | −5.6% |
| 6A | Sep 10, 2015 | $609,932 | $525,000 p. 22 | +16.2% |
| 5B | Sep 15, 2015 | $631,315 | $551,250 p. 22 | +14.5% |
| 4C | Sep 17, 2015 | $420,810 | $393,750 p. 22 | +6.9% |
| 5A | Sep 17, 2015 | $595,676 | $603,750 p. 22 | −1.3% |
| 2A | Sep 21, 2015 | $528,472 | $551,250 p. 22 | −4.1% |
| 6B | Sep 21, 2015 | $656,771 | $551,250 p. 22 | +19.1% |
| 2B | Sep 22, 2015 | $549,855 | $551,250 p. 22 | −0.3% |
| 1A | Sep 30, 2015 | $375,066 | $393,750 p. 22 | −4.7% |
| 3A | Oct 1, 2015 | $554,946 | $603,750 p. 22 | −8.1% |
| 3C | Oct 8, 2015 | $405,600 | $393,750 p. 22 | +3% |
| 3B | Oct 13, 2015 | $631,315 | $551,250 p. 22 | +14.5% |
| 1C | Oct 22, 2015 | $840,056 | $787,500 p. 22 | +6.7% |
| 2C | Oct 22, 2015 | $414,726 | $393,750 p. 22 | +5.3% |
| 6C | Oct 23, 2015 | $1,056,944 | $990,000 p. 22 | +6.8% |
| 5C | Nov 30, 2015 | $433,485 | $393,750 p. 22 | +10.1% |
| 4B | Jan 11, 2016 | $616,041 | $551,250 p. 22 | +11.8% |
| 1B | Mar 22, 2016 | $784,053 | $787,500 p. 22 | −0.4% |
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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
- Vanderbilt Upreal LLC
- Developer
- Brookland Capital
- Principals
- Boaz Gilad
- Counsel
- Marans, Weisz & Newman LLC
- Tax estimate
- Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
- Construction lender
- Houtex$3.4 million recorded
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- 525-527 Vanderbilt Avenue Condominiumnext door · 10 units · 2006
- 532 Clinton Avenue Condominiumnext door · 14 units · 11 parking · 2021
- 499 Vanderbilt Condonext door · 15 units · 6 parking
- 525 Clinton Condominiumnext door · 30 units · 1 parking · 2007
- 505 Clinton Avenue Condominiumnext door · 11 units · 2018
- 503 Clinton Avenue Condominiumnext door · 8 units · 2025