THE CONDO BOOK PROJECT

One Boerum Condominium

7 Boerum Place, Brooklyn, NY 11201

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Overview

A 21-story, 138-unit condo at Boerum Place and Fulton Street in Downtown Brooklyn, designed by SLCE Architects. It has a two-lane cellar pool, a 47-car mechanized garage, only two elevators, and a site that needed environmental cleanup.

  • Address: 7 Boerum Place, Downtown Brooklyn
  • Plan: CD190310, accepted for filing in September 2020. The Attorney General's record now lists the plan as abandoned.
  • Residences: 138, from studios of about 423 square feet to a four-bedroom penthouse of about 3,125 square feet with a terrace of about 1,800 square feet. The mix is 10 studios, 28 one-bedrooms, 36 two-bedrooms, 46 three-bedrooms and 18 four-bedrooms.
  • Outdoor space: 12 homes have terraces and 30 have balconies.
  • Other units: three commercial units on the first and second floors, offered at $1 million each.
  • Parking and storage: 47 deeded parking units at $100,000 to $150,000, and 59 deeded cellar storage units at $7,000 to $35,000. You can only buy them with a home.
  • First offering: 138 homes at about $269.1 million in total, from $550,000 to about $6 million each, and about $278.4 million for the whole offering (sponsor offering prices, not sales).

Compare

FigureThis building1Saint Marks Place2105 units · 0.8 miaccepted 202098 Front3165 units · 0.7 miaccepted 2019
Common ChargesPer Square Foot / Month$0.87In line$0.85$1.05
Average Offering PricePer Apartment$1.95MAbove peers$1.73M$1.48M
Average PricePer Square Foot$1,624In line$1,476$1,694
Property TaxesPer Square Foot / Month$1.13In line$1.18$0.94
Average Unit SizeSquare Feet1,201 SFLarger1,174 SF875 SF

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Unit mix, closings, budgets, finishes and the team, against Saint Marks Place and 98 Front, 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.

Budget

What It Costs to Run

The sponsor projected a first-year budget (August 2021 to July 2022) of about $1.87 million. The homes carry about $1.74 million of it (about 93%), the parking units about $100,000, the commercial units about $29,000 and the storage units about $2,200. In Schedule A, monthly common charges for homes run from about $360 for the smallest studios to about $3,100 for the largest penthouse, with estimated monthly taxes on top.

Notable lines:

  • Staff: about $765,000.
  • Service contracts: about $351,000, including $106,000 for the pool and lifeguards, about $82,000 to maintain the automated garage (paid by the parking owners) and $50,000 for window washing.
  • Common electricity: about $189,000. Water and sewer: about $125,000.
  • Insurance: about $108,000, based on a quote from Stern Agency.
  • Management fee: $76,000 to FirstService Residential, which the plan says isn't affiliated with the sponsor.
  • Resident manager's apartment: about $83,000 a year.

Good to know: the reserve fund line is just $5,000. You'll pay two months of common charges into working capital at closing, which the plan says adds up to about $312,000 once every unit has closed. Special Risks says the budget leaves out exterior window washing, but Schedule B includes $50,000 for it. See condo reserve funds, why operating costs differ and our common charge benchmarks.

From our research: The Sponsor's Condo-Creation Fee in NYC · NYC Condo Insurance Costs Are Rising · Condo Supplies Cost per Unit, by Size

The Building

Finishes

The architect's report lists kitchen and bath packages by model (compare with our NYC condo finishes guide).

Kitchen

  • All-Miele appliances: a bottom-mount refrigerator, a gas cooktop, a wall oven, a microwave and a fully integrated dishwasher. Larger homes get a 36-inch, 5-burner flush-mounted cooktop. Some smaller layouts get a 24-inch, 4-burner cooktop and a Miele speed oven.
  • The top package adds separate Miele refrigerator and freezer columns. Some packages add a Perlick wine fridge.
  • Tundra Grey stone countertops, white oak veneer cabinets, a Cantrio Koncepts stainless sink, a Dornbracht Tara pull-down faucet and a Waste King disposer.

See how these brands compare in our kitchen appliance brands research.

Baths

  • Cantrio Koncepts toilets, under-mount sinks and alcove tubs, with Waterworks faucets, tub spouts and shower fittings.
  • Some baths have a linear shower drain and a rain shower head.
  • Primary baths have stone floors and stone and painted walls. Secondary baths have stone floors and tiled walls.

See how these names rank in our bathroom brands guide.

Floors, Ceilings and Windows

  • Select rift-cut white oak engineered planks, 5 inches wide and 5/8 inch thick, with a light oil finish, over an acoustic underlayment.
  • Finished ceilings of about 8 feet to about 10 feet 2 inches, and about 13 feet 6 inches on the south side of floor 6.
  • Thermally broken aluminum windows from Skyline Windows. Operable windows are in-swing casements, open only 4 inches and are cleaned from inside. Homes on the south, north and east sides get windows rated for street noise (OITC 28).
  • Walls between homes are rated STC 50.

Laundry, Heating and Cooling

  • Every home has a stacked 24-inch Bosch washer and a ventless condensation dryer. A cellar laundry room adds two washers and two gas dryers.
  • Heat and cooling come from a Daikin water-cooled VRV system, with condensing units in a closet on each floor. Three gas-fired condensing boilers supply the water loop.
  • Electricity, including power for your heating and cooling, is metered separately and paid to Con Edison. Water and sewer are in common charges. See heating and cooling systems and who pays utilities.

Amenities, Staffing & Transportation

The amenities are spread across the cellar, the 4th and 5th floors and the roof (compare with amenities by building size).

Cellar

  • An indoor two-lane lap pool about 12 feet wide and 50 feet long, 4 to 4.5 feet deep, kept at 80 to 82 degrees, with a sauna and locker rooms.
  • A storage room with wire-mesh storage units.

4th and 5th Floors

  • A residents' lounge of about 1,274 square feet.
  • A gym of about 960 square feet with cardio, machines, free weights and a stretching area, plus a children's exercise room of about 300 square feet.
  • A bike room on the 5th floor with 71 wall-mounted racks.

Roof and Other Spaces

  • A landscaped roof terrace of about 2,733 square feet with a synthetic lawn, a trellis, two built-in electric grills, an under-counter fridge and sink, an outdoor TV and a view periscope.
  • A pet room with a utility sink, a package room and a mail room off the lobby.

Good to know: the pool can't open unless a lifeguard is on duty. Lifeguards come through an outside contract, initially with the managing agent, budgeted at $106,000 a year. If amenities aren't finished when your home is, that isn't grounds to refuse to close.

Staffing and Services

The year-one budget plans a small, non-union staff:

  • A full-time, live-in resident manager.
  • Concierges around the clock (about 4.2 full-time positions).
  • One handyman and three porters.

Payroll, benefits and payroll taxes come to about $765,000, about 41% of the budget. Under the plan, the board buys the resident manager's apartment, and each buyer pays a share of it at closing. Our doorman cost guide puts these numbers in context.

Transportation

  • Subway: 2 min walk to Borough Hall/Court St 2 3 4 5 R; Jay St-MetroTech A C F R, 3 min
  • Parking: 47 parking units in the plan

Fine Print

What's Specific to It

  • A robotic garage: all 47 parking spaces sit in a mechanized system in the cellar and subcellar, reached by a turntable and lift off Red Hook Lane. Each space is a deeded unit, offered at $100,000 to $150,000.
  • Two elevators for 138 homes: one runs from the cellar to the roof and the other from floors 1 to 21. If both are down, residents take the stairs.
  • A cleaned-up site: soil, groundwater and soil vapor held contaminants above regulatory standards. The sponsor removed soil and installed a vapor barrier and a concrete cap, which the condo board will maintain after the first closing.
  • A building that hangs over its neighbors: from the 8th floor up the building cantilevers over two adjacent lots. Windows facing those lots on floors 5 to 10 have fire ratings, fire shutters or sprinkler water curtains.
  • Taxes projected to jump: the plan expects taxes to rise once the finished building is reassessed, adding about $68,000 a month across the homes from July 2022. The ICAP abatement covers only the commercial units.
  • A non-union staff led by a live-in resident manager, with a concierge around the clock.

One Boerum fills an irregular lot at Boerum Place and Fulton Street, partly in the Fulton Mall subdistrict of the Special Downtown Brooklyn District. Its offering plan lays out what goes into the homes, what the building should cost to run and what you agree to as a buyer.

Fine Print Worth Knowing

  • Environmental site: the cleanup found metals, pesticides, PCBs and solvent-related compounds in the soil, groundwater and soil vapor. The vapor barrier and cap need upkeep, inspections and reports to the city, estimated at about $5,000 a year, and the condo board takes that on after the first closing.
  • Taxes will rise: Schedule A taxes are based on an assessment taken before the building was finished. The plan's tax consultant projects the homes' share rising by about $68,000 a month in total once the finished building is assessed. No abatement applies to the homes.
  • Sponsor control: the sponsor names the three-member board until 90% of the homes sell or five years pass, whichever is first. Afterward the board grows to five, and the commercial owners always elect one member. The sponsor can rent unsold homes instead of selling them.
  • The super's apartment: Special Risks names Unit 405 (offered at $1,495,000), though the budget notes mention Unit 5J. Buyers fund 35% of the price plus closing costs at their closings. The board is expected to borrow the rest with a 10-year loan amortizing over 30 years, and owners may be assessed if it can't refinance.
  • Short warranty windows: the sponsor fixes defects only if you report them within six months (visible defects) or one year (hidden defects) after closing. Disputes go to arbitration, not court.
  • Commercial neighbors: the commercial units can become a restaurant. Fast food, bars without a restaurant, dry cleaners and some other uses are barred.
  • House rules: dogs must be under 50 pounds. Investors can't list or sell for a year after closing without the sponsor's consent, and the board has a right of first refusal on sales and leases.

Team

  • Sponsor: One Boerum Development Partners LLC; principals Brian Ezra, Avishy Fisher, Jesse Wark, Joshua Benaim and Timothy Gordon
  • Architect: SLCE Architects (lead architect Robert Laudenschlager)
  • MEP engineer (utility estimates): Jaros, Baum & Bolles
  • Environmental consultant: AKRF
  • Managing agent and budget expert: FirstService Residential
  • Selling agent: Nest Seekers International, assisted by One World Properties
  • Sponsor's counsel: Lester Bleckner & Shaw
  • Tax consultant: Tuchman, Korngold, Weiss, Liebman & Lindemann
  • Construction lender: QuadReal Finance, with loans totaling up to $165 million

The plan doesn't name an interior designer.

Nearby

FAQ

Does One Boerum have a pool?

Yes. The cellar has an indoor two-lane lap pool about 12 feet wide and 50 feet long, heated to 80 to 82 degrees, with a sauna and locker rooms, for residential owners only and open only when a contracted lifeguard is on duty.

How does parking work?

The building has 47 deeded parking units in a mechanized system on two below-grade levels, served by a turntable and lift at a drop-off on Red Hook Lane. They're offered at $100,000 to $150,000, you can only buy one with a home, and there are fewer spaces than homes.

Is the staff union?

No. The first-year budget assumes a non-union staff of a live-in resident manager, round-the-clock concierges, one handyman and three porters, costing about $765,000 a year with benefits and payroll taxes.

Where this comes from: the building's offering plan (CD190310) as filed with the New York Attorney General, including its Special Risks, Description of Property and Improvements, Schedule A, Schedule B and its notes, Identity of Parties and the architect's Description of Property and Building Condition. Prices are the sponsor's offering prices, not sales, and budget figures are the sponsor's first-year projections. Later amendments may change them. Updated October 2026.