THE CONDO BOOK PROJECT

C & L Condominium

614 51st Street, Brooklyn, NY 11220

Overview

Units
6 residential · 1 commercial
Subway
8 min walk to 53 St R45 St R, 13 min
Principals
Ming Wei Lu
Offering price
$3.05 million total

The sponsor of record is C & L 888 LLC, represented by Lawrence Lixin Yang, P.C.. The offering plan runs 312 pages. The sponsor has filed 2 amendments, the latest in February 2024. The nearest other condo plan on file is Kingsland Tower Condominium, next door.

Plan CD220270 · New · accepted Jun 13, 2023 · AG record ↗

Compare

FigureThis building1800 5th26 units · 1 miaccepted 20241335 63rd36 units · 1.2 miaccepted 2023
Average Offering PricePer Apartment$507,833In line$400,000$810,667

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Unit mix, closings, budgets, finishes and the team, against 800 5th and 1335 63rd, 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 the plan6 of 6
Closingsfirst and latest recordedJan 31, 2024 – Sep 17, 2024

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 6 closings
HomeRecordedClosing priceSchedule ADifference
2AJan 31, 2024$365,040——
3AJan 31, 2024$373,152——
3BFeb 15, 2024$357,942——
2BFeb 27, 2024$352,872——
1AApr 2, 2024$619,096——
4ASep 17, 2024$479,622——

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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
C & L 888 LLC
Principals
Ming Wei Lu
Tax estimate
LAWRENCE LIXIN YANG, P.C.Prepared the first-year real estate tax projection

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

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