577 5th Street Condominium
577 5th Street, Brooklyn, NY 11215
Overview
- Units
- 2 residential
- Subway
- 5 min walk to 7 Av F G15 St-Prospect Park F G, 11 min
- Principals
- David May
- Average $/sf
- $1,383Homes in Schedule A, as first offered
- Common charges
- $909 a monthSponsor's first-year estimate in Schedule A, June 1, 2021 - May 31, 2022
- Offering price
- $6 million total
- Floor plans
- Page 3 of the plan
The sponsor of record is Prospect Park Investments LLC, represented by The Law Office Of Claudia V. Murdoch, P.C.. The offering plan runs 235 pages. The sponsor has filed 1 amendment, the latest in February 2022. The nearest other condo plan on file is 565 5th Street Condominium, next door.
Plan CD180127 · Conversion · accepted Dec 17, 2020 · AG record ↗
Compare
| Figure | This building1 | 184 Lincoln Place22 units · 0.5 miaccepted 2020 | 404 Degraw32 units · 1.3 miaccepted 2021 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $0.42In line | $0.42 | $0.31 |
| Average Offering PricePer Apartment | $3MIn line | $2.85M | $3.25M |
| Average PricePer Square Foot | $1,383Below peers | $1,493 | $1,695 |
| Property TaxesPer Square Foot / Month | $0.49In line | $0.41 | $0.85 |
| Average Unit SizeSquare Feet | 2,169 SFLarger | 1,905 SF | 1,914 SF |
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Unit mix, closings, budgets, finishes and the team, against 184 Lincoln Place and 404 Degraw, 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
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
- Prospect Park Investments LLC
- Principals
- David May
- Tax estimate
- Mazursky GroupPrepared 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
- 561 5th Street Condominiumnext door · 4 units · 2003
- 593 Sixth Street Condominiumnext door · 4 units · 2014
- 501 8th Avenue Condominiumnext door · 4 units · 2026
- 503 8th Avenue Condominiumnext door · 4 units · 2005
- 539 4th Street Condominiumnext door · 8 units · 2018