THE CONDO BOOK PROJECT

538 Henry Street Condominium

538 Henry Street, Brooklyn, NY 11231

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Overview

Units
4 residential
Subway
7 min walk to Carroll St F GBergen St F G, 14 min
Average $/sf
$1,624Homes in Schedule A, as first offered
Common charges
$616–$840 a monthSponsor's first-year estimate in Schedule A, From January 1, 2024 To December 31, 2024
Offering price
$8.54 million total

The sponsor of record is 538 Henry Street LLC, represented by Marcus Attorneys Pllc. The offering plan runs 320 pages. The sponsor has filed 3 amendments, the latest in July 2025. The nearest other condo plan on file is 536 Henry Street Condominium, next door.

Plan CD230113 · Rehab · accepted Nov 7, 2023 · AG record ↗

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FigureThis building185 Douglass24 units · 0.5 miaccepted 2023110 First Place34 units · 0.3 miaccepted 2023
Common ChargesPer Square Foot / Month$0.53Highest$0.45$0.28
Average Offering PricePer Apartment$2.14MBelow peers$2.3M$2.81M
Average PricePer Square Foot$1,624Below peers$1,674$1,847
Property TaxesPer Square Foot / Month$0.47Above peers$0.42$0.33
Average Unit SizeSquare Feet1,316 SFSmaller1,376 SF1,523 SF

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Unit mix, closings, budgets, finishes and the team, against 85 Douglass and 110 First Place, cited to the offering plans. No credit card required, and it also connects to ChatGPT and Claude, with limited access.

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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.

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Closings Pro

Homes closed100% of the homes in Schedule A4 of 4
Closing prices vs. Schedule A4 homes: $8,348,234 at closing against $8,545,000 in Schedule A (p. 33)−2.3%
Average closing price4 homes, on their Schedule A square feet$1,586 / SF
Closingsfirst and latest recordedNov 22, 2024 – Sep 5, 2025

Sales recorded with the Department of Finance (ACRIS) through Sep 30, 2025: 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
3Nov 22, 2024$1,995,000$1,950,000 p. 33+2.3%
4Dec 5, 2024$2,133,234$2,075,000 p. 33+2.8%
2Jan 17, 2025$1,950,000$2,025,000 p. 33−3.7%
1Sep 5, 2025$2,270,000$2,495,000 p. 33−9%

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

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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
538 Henry Street LLC
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection

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

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