THE CONDO BOOK PROJECT

773 Greene Avenue Condominium

773 Greene Avenue, Brooklyn, NY 11221

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Overview

Units
4 residential
Subway
12 min walk to Myrtle Av J M ZKosciuszko St J, 13 min
Average $/sf
$1,127Homes in Schedule A, as first offered
Common charges
$303–$454 a monthSponsor's first-year estimate in Schedule A, July 1, 2021 - June 30, 2022
Offering price
$4.35 million total

The sponsor of record is 773 Greene Bsd LLC, represented by Jeffrey Zwick & Associates, P.C.. The offering plan runs 337 pages. The sponsor has filed 2 amendments, the latest in January 2022. The nearest other condo plan on file is 792 Greene Avenue Condominium, next door.

Plan CD200269 · New · accepted Feb 1, 2021 · AG record ↗

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FigureThis building1289 Kosciuszko24 units · 0.3 miaccepted 2021446 Macon33 units · 0.6 miaccepted 2020
Common ChargesPer Square Foot / Month$0.38Lowest$0.54$0.51
Average Offering PricePer Apartment$1.09MIn line$897,500$1.12M
Average PricePer Square Foot$1,127In line$1,083$1,146
Property TaxesPer Square Foot / Month$0.34In line$0.78$0.27
Average Unit SizeSquare Feet965 SFIn line829 SF975 SF

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Unit mix, closings, budgets, finishes and the team, against 289 Kosciuszko and 446 Macon, 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 A4 of 4
Closing prices vs. Schedule A2 homes: $1,750,000 at closing against $2,050,000 in Schedule A (p. 33)−14.6%
Average closing price2 homes, on their Schedule A square feet$995 / SF
Closingsfirst and latest recordedSep 14, 2021 – Jun 28, 2022

Sales recorded with the Department of Finance (ACRIS) through Jul 31, 2022: 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
HomeRecordedClosing priceSchedule ADifference
PENSep 14, 2021$1,100,000——
2Jan 27, 2022$875,000$1,000,000 p. 33−12.5%
3Feb 18, 2022$875,000$1,050,000 p. 33−16.7%
GRDNJun 28, 2022$975,000——

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Closings are for subscribers

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
773 Greene Bsd LLC
Tax estimate
Empire Consulting Service, Inc.Prepared the first-year real estate tax projection

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

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