THE CONDO BOOK PROJECT

538 Clinton Street Condominium

538 Clinton Street, Brooklyn, NY 11231

Compare

Overview

Units
5 residential · 1 parking
Subway
7 min walk to Smith-9 Sts F GCarroll St F G, 8 min
Principals
Lev Zaks
Average $/sf
$1,431Homes in Schedule A, as first offered
Common charges
$421–$841 a monthSponsor's first-year estimate in Schedule A, January 1, 2021 To December 31, 2021
Offering price
$10.9 million total $9.21 million when first offered

The sponsor of record is 538 Clinton Street LLC, represented by Marcus Attorneys, Pllc. The offering plan runs 342 pages. The sponsor has filed 5 amendments, the latest in March 2024. The nearest other condo plan on file is 112 Luquer Street Condominium, next door.

Plan CD200107 · Rehab · accepted Dec 9, 2020 · AG record ↗

Compare

FigureThis building1379 13th24 units · 1.2 miaccepted 2021285 7th33 units · 0.9 miaccepted 2021
Common ChargesPer Square Foot / Month$0.45In line$0.62$0.44
Average Offering PricePer Apartment$1.8MBelow peers$1.84M$1.93M
Average PricePer Square Foot$1,431Below peers$1,524$1,545
Property TaxesPer Square Foot / Month$0.60In line$1.08$0.47
Average Unit SizeSquare Feet1,259 SFLarger1,208 SF1,248 SF

Free Account

See the Full Comp

Unit mix, closings, budgets, finishes and the team, against 379 13th and 285 7th, cited to the offering plans. No credit card required.

Create a free account
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 closed80% of the homes in Schedule A4 of 5
Closing prices vs. Schedule A4 homes: $7,931,213 at closing against $7,450,000 in Schedule A (p. 31)+6.5%
Average closing price4 homes, on their Schedule A square feet$1,545 / SF
Closingsfirst and latest recordedDec 28, 2022 – Aug 15, 2023

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 4 closings
HomeRecordedClosing priceSchedule ADifference
2Dec 28, 2022$2,100,000$1,850,000 p. 31+13.5%
4Dec 28, 2022$1,300,000$1,300,000 p. 310%
3Mar 27, 2023$2,036,500$1,700,000 p. 31+19.8%
1BAug 15, 2023$2,494,713$2,600,000 p. 31−4%

Pro

Closings are for subscribers

Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.

Subscribe to seeAlready a member? Sign in

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
538 Clinton Street LLC
Principals
Lev Zaks
Tax estimate
Metropolitan Realty ExemptionsPrepared the first-year real estate tax projection
Construction lender
Derby 538Lender on the mortgage and building loan agreement recorded May 2021 in ACRIS; $6.26 million recorded

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

Nearby