THE CONDO BOOK PROJECT

80-82 Adelphi Street Condominium

80-82 Adelphi Street, Brooklyn, NY 11205

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Overview

Units
14 residential · 2 commercial
Subway
14 min walk to Clinton-Washington Avs GFulton St G, 14 min
Average $/sf
$682Homes in Schedule A, as first offered
Common charges
$296–$557 a monthSponsor's first-year estimate in Schedule A, May 1, 2007 to April 30, 2008
Offering price
$6.92 million total

The sponsor of record is Adelphi Street Associates LLC, represented by Certilman Balin Adler & Hyman, LLP. The offering plan runs 316 pages. The sponsor has filed 9 amendments, the latest in November 2010. The nearest other condo plan on file is 74 Adelphi Condominium, next door.

Plan CD060416 · New · accepted Nov 2, 2006 · AG record ↗

Compare

FigureThis building1151-153 Manhattan215 units · 1.7 miaccepted 2006365-367 Union314 units · 1.6 miaccepted 2007
Common ChargesPer Square Foot / Month$0.56Highest$0.19$0.40
Average Offering PricePer Apartment$465,429Below peers$621,000$528,786
Average PricePer Square Foot$682In line$659$711
Property TaxesPer Square Foot / Month$0.02In line$0.01$0.06
Average Unit SizeSquare Feet682 SFSmaller943 SF743 SF

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Unit mix, closings, budgets, finishes and the team, against 151-153 Manhattan and 365-367 Union, 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 A14 of 14
Closing prices vs. Schedule A13 homes: $4,244,010 at closing against $5,817,000 in Schedule A (p. 27)−27%
Average closing price13 homes, on their Schedule A square feet$496 / SF
Closingsfirst and latest recordedNov 25, 2009 – Mar 10, 2011

Sales recorded with the Department of Finance (ACRIS) through Apr 30, 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 14 closings
HomeRecordedClosing priceSchedule ADifference
2ANov 25, 2009$263,640$365,000 p. 27−27.8%
1BDec 1, 2009$446,160$599,000 p. 27−25.5%
2CDec 21, 2009$250,000$365,000 p. 27−31.5%
3BDec 22, 2009$282,000$405,000 p. 27−30.4%
4DJan 21, 2010$286,455$410,000 p. 27−30.1%
4BJan 22, 2010$296,000$410,000 p. 27−27.8%
3DMar 12, 2010$285,000$405,000 p. 27−29.6%
4AMay 26, 2010$278,905$395,000 p. 27−29.4%
3AMay 28, 2010$280,000$385,000 p. 27−27.3%
4CMay 28, 2010$293,000$395,000 p. 27−25.8%
3CJun 7, 2010$280,000$385,000 p. 27−27.3%
5AAug 13, 2010$545,000$699,000 p. 27−22%
1DDec 7, 2010$457,850$599,000 p. 27−23.6%
5CMar 10, 2011$499,000——

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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
Adelphi Street Associates LLC
Tax estimate
Realty Program Consultants, LLCPrepared the first-year real estate tax projection
Construction lender
KeyBank$4.15 million recorded

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

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