561 5th Street Condominium
561 5th Street, Brooklyn, NY 11215
Overview
- Units
- 4 residential
- Subway
- 5 min walk to 7 Av F G15 St-Prospect Park F G, 12 min
- Principals
- SPIRO GEROULANOS
- Average $/sf
- $618Homes in Schedule A, as first offered
- Common charges
- $139–$332 a monthSponsor's first-year estimate in Schedule A, July 1, 2003 to June 30, 2004
- Offering price
- $2.94 million total
- Floor plans
- Pages 123–125 of the plan
The sponsor of record is 561 5th Street Associates, LLC, represented by Harold Gruber, P.C.. The offering plan runs 199 pages. The sponsor has filed 3 amendments, the latest in December 2004. The nearest other condo plan on file is 565 5th Street Condominium, next door.
Plan CD030098 · New · accepted Oct 1, 2003 · AG record ↗
Compare
| Figure | This building1 | 308 Clinton24 units · 1.5 miaccepted 2004 | 35 East 4th36 units · 1.1 miaccepted 2005 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $0.18Below peers | $0.19 | $0.25 |
| Average Offering PricePer Apartment | $736,250In line | $774,000 | $411,667 |
| Average PricePer Square Foot | $618Highest | $524 | $515 |
| Average Unit SizeSquare Feet | 1,192 SFIn line | 1,477 SF | 800 SF |
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Unit mix, closings, budgets, finishes and the team, against 308 Clinton and 35 East 4th, cited to the offering plans. No credit card required.
Create a free accountHow 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.
Units & Prices
Closings Pro
| Homes closed100% of the homes in Schedule A | 4 of 4 |
| Closing prices vs. Schedule A2 homes: $2,996,793 at closing against $1,330,000 in Schedule A (p. 16) | +125.3% |
| Average closing price2 homes, on their Schedule A square feet | $1,670 / SF |
| Closingsfirst and latest recorded | Jul 22, 2015 – Sep 15, 2016 |
Sales recorded with the Department of Finance (ACRIS) through Nov 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
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| 3 | Jul 22, 2015 | $1,654,656 | $590,000 p. 16 | +180.5% |
| 1 | Jul 30, 2015 | $1,526,357 | — | — |
| 2 | Aug 3, 2015 | $1,342,136 | $740,000 p. 16 | +81.4% |
| BSMT | Sep 15, 2016 | $1,528,000 | — | — |
Pro
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
- 561 5th Street Associates, LLC
- Principals
- SPIRO GEROULANOS
- Counsel
- Harold Gruber, P.C.
- Tax estimate
- Ben Rottenstein & AssociatesPrepared the first-year real estate tax projection
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- 565 5th Street Condominiumnext door · 4 units · 2015
- 501 8th Avenue Condominiumnext door · 4 units · 2026
- 577 5th Street Condominiumnext door · 2 units · 2020
- 503 8th Avenue Condominiumnext door · 4 units · 2005
- 511 8th Avenue Condominiumnext door · 4 units
- 539 4th Street Condominiumnext door · 8 units · 2018