THE CONDO BOOK PROJECT

533 Throop Avenue Condominium

533 Throop Avenue, Brooklyn, NY 11211

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Overview

Units
2 residential
Subway
6 min walk to Kingston-Throop Avs CNostrand Av A C, 13 min
Average $/sf
$1,053Homes in Schedule A, as first offered
Common charges
$687 a monthSponsor's first-year estimate in Schedule A, July 1, 2021 To June 30, 2022
Offering price
$3.1 million total

The sponsor of record is Seigel Complex, Inc., represented by Eial Girtz, PC. The offering plan runs 253 pages. The sponsor has filed 1 amendment, the latest in February 2022. The nearest other condo plan on file is 535 Throop Avenue Condominium, next door.

Plan CD200279 · New · accepted Apr 7, 2021 · AG record ↗

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FigureThis building1545 Lexington Townhouses22 units · 0.4 miaccepted 2021382 Keap Street Condominum32 units · 1.9 miaccepted 2021
Common ChargesPer Square Foot / Month$0.42In line$0.42$0.17
Average Offering PricePer Apartment$1.73MIn line$1.52M$2.5M
Average PricePer Square Foot$1,053In line$972$1,088
Property TaxesPer Square Foot / Month$0.93Highest$0.20$0.67
Average Unit SizeSquare Feet1,638 SFIn line1,569 SF2,297 SF

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See the Full Comp

Unit mix, closings, budgets, finishes and the team, against 545 Lexington Townhouses and 382 Keap Street Condominum, 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 A2 homes: $3,145,000 at closing against $3,450,000 in Schedule A (p. 18)−8.8%
Average closing price2 homes, on their Schedule A square feet$960 / SF
Closingsfirst and latest recordedNov 5, 2021 – Nov 10, 2021

Sales recorded with the Department of Finance (ACRIS) through Aug 31, 2023: 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
1Nov 5, 2021$1,495,000$1,650,000 p. 18−9.4%
2Nov 10, 2021$1,650,000$1,800,000 p. 18−8.3%

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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.

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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
Seigel Complex, Inc.
Tax estimate
RE Tax Service, LLCPrepared the first-year real estate tax projection

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

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