THE CONDO BOOK PROJECT

Bealin

7616 Bay Parkway, Brooklyn, NY 11214

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Overview

Units
10 residential · 2 commercial
Subway
10 min walk to Bay Pkwy NBay Pkwy D, 10 min
Principals
Yousef Lati
Average $/sf
$1,037Homes in Schedule A, as first offered
Common charges
$415–$623 a monthSponsor's first-year estimate in Schedule A, July 1, 2024 to June 30, 2025
Offering price
$13.2 million total

The sponsor of record is 7616 LLC, represented by Moritt Hock & Hamroff, LLP. The offering plan runs 317 pages. The sponsor has filed 3 amendments, the latest in September 2025. The nearest other condo plan on file is 7620 Bay Parkway Condominium, next door.

Plan CD230281 · New · accepted Apr 16, 2024 · AG record ↗

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FigureThis building1Bath Beach Residence211 units · 0.8 miaccepted 2024Dyker311 units · 1.4 miaccepted 2024
Common ChargesPer Square Foot / Month$0.51In line$0.51$0.54
Average Offering PricePer Apartment$898,210Above peers$762,436$857,891
Average PricePer Square Foot$1,037Above peers$1,011$986
Property TaxesPer Square Foot / Month$1.03Above peers$0.92$0.62
Average Unit SizeSquare Feet866 SFIn line754 SF870 SF

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Unit mix, closings, budgets, finishes and the team, against Bath Beach Residence and Dyker, 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 Schedule A10 of 10
Closing prices vs. Schedule A9 homes: $6,832,615 at closing against $8,051,000 in Schedule A (p. 47)−15.1%
Average closing price9 homes, on their Schedule A square feet$871 / SF
Closingsfirst and latest recordedJan 14, 2025 – Dec 29, 2025

Sales recorded with the Department of Finance (ACRIS) through Feb 28, 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 11 closings
HomeRecordedClosing priceSchedule ADifference
4BJan 14, 2025$722,958$831,000 p. 47−13%
PHBMar 3, 2025$770,000——
4AMar 13, 2025$709,000$840,000 p. 47−15.6%
2AJun 5, 2025$695,000$834,000 p. 47−16.7%
C2Jun 25, 2025$1,275,000——
2BJul 9, 2025$779,900$901,000 p. 47−13.4%
3BJul 10, 2025$722,958$831,000 p. 47−13%
3AJul 14, 2025$723,800$840,000 p. 47−13.8%
5AAug 8, 2025$745,000$840,000 p. 47−11.3%
5BAug 8, 2025$735,000$831,000 p. 47−11.6%
6ADec 29, 2025$999,000$1,303,000 p. 47−23.3%

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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
7616 LLC
Principals
Yousef Lati
Tax estimate
Metropolitan Realty ExemptionsPrepared the first-year real estate tax projection
Construction lender
Colorado Federal Savings Bank$5 million recorded

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

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