THE CONDO BOOK PROJECT

Highline Condominium

781 East 9th Street, Brooklyn, NY 11230

Overview

Units
13 residential · 7 parking
Subway
7 min walk to Avenue H QNewkirk Plaza B Q, 11 min
Principals
Menashe Mahgerefteh, Sasson Mahgerefteh
Offering price
$11.6 million total

The sponsor of record is 783 E 9th LLC, represented by Boris Saks, Esq. Pllc. The offering plan runs 183 pages. The sponsor has filed 4 amendments, the latest in November 2019. The nearest other condo plan on file is 776 East 8th Street Condominium, next door.

Plan CD170055 · New · accepted Jul 20, 2017 · AG record ↗

Compare

FigureThis building1Cypress214 units · 0.9 miaccepted 20181702 Newkirk312 units · 0.6 miaccepted 2019
Average Offering PricePer Apartment$889,769In line$970,429$856,302

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Unit mix, closings, budgets, finishes and the team, against Cypress and 1702 Newkirk, 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 plan13 of 13
Closingsfirst and latest recordedSep 27, 2018 – Jan 22, 2020

Sales recorded with the Department of Finance (ACRIS) through Dec 31, 2025: 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 13 closings
HomeRecordedClosing priceSchedule ADifference
5BSep 27, 2018$793,342one deed, 2 homes——
5AOct 4, 2018$809,509one deed, 2 homes——
2BOct 9, 2018$711,882——
3AOct 11, 2018$773,995one deed, 2 homes——
2AOct 12, 2018$730,000one deed, 2 homes——
3BOct 18, 2018$772,977one deed, 2 homes——
6AOct 24, 2018$829,874——
6BOct 31, 2018$809,634——
4ANov 8, 2018$768,904——
7AApr 24, 2019$813,707one deed, 2 homes——
7BApr 24, 2019$865,637——
4BSep 3, 2019$702,718——
8AJan 22, 2020$771,370——

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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
783 E 9th LLC
Principals
Menashe Mahgerefteh, Sasson Mahgerefteh
Tax estimate
Boris Saks, Esq., PLLCPrepared the first-year real estate tax projection
Construction lender
Valley National Bank$2.7 million recorded

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

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