THE CONDO BOOK PROJECT

81 India Street Condominium

81 India Street, Brooklyn, NY 11222

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Overview

Units
6 residential
Subway
3 min walk to Greenpoint Av GNassau Av G, 13 min
Developer
Investmates
Principals
Jakov Telyas
Average $/sf
$1,403Homes in Schedule A, as first offered
Common charges
$279–$760 a monthSponsor's first-year estimate in Schedule A, December 1, 2021 - November 30, 2022
Offering price
$7.2 million total $6.65 million when first offered

The sponsor of record is 81 India Street LLC, represented by Jeffrey Zwick & Associates, P.C.. The offering plan runs 335 pages. The sponsor has filed 2 amendments, the latest in October 2022. The nearest other condo plan on file is 102 Huron Street Condominium, next door.

Plan CD210021 · New · accepted Nov 10, 2021 · AG record ↗

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FigureThis building1Cleopatra At 9926 units · 1.3 miaccepted 2021149 Green39 units · 0.1 miaccepted 2022
Common ChargesPer Square Foot / Month$0.53Lowest$0.63$0.88
Average Offering PricePer Apartment$1.11MIn line$1.34M$1.02M
Average PricePer Square Foot$1,403Below peers$1,642$1,523
Property TaxesPer Square Foot / Month$0.49Lowest$0.61$0.74
Average Unit SizeSquare Feet790 SFIn line817 SF671 SF

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See the Full Comp

Unit mix, closings, budgets, finishes and the team, against Cleopatra At 99 and 149 Green, 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 A6 of 6
Closing prices vs. Schedule A6 homes: $7,067,257 at closing against $6,650,000 in Schedule A (p. 30)+6.3%
Average closing price6 homes, on their Schedule A square feet$1,491 / SF
Closingsfirst and latest recordedMay 11, 2022 – Jun 7, 2022

Sales recorded with the Department of Finance (ACRIS) through Aug 31, 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 6 closings
HomeRecordedClosing priceSchedule ADifference
3AMay 11, 2022$813,582$750,000 p. 30+8.5%
2BMay 18, 2022$775,000$750,000 p. 30+3.3%
3BMay 23, 2022$775,000$750,000 p. 30+3.3%
1AJun 1, 2022$1,970,000$2,000,000 p. 30−1.5%
2AJun 2, 2022$799,000$750,000 p. 30+6.5%
4AJun 7, 2022$1,934,675$1,650,000 p. 30+17.3%

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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
81 India Street LLC
Developer
Investmates
Principals
Jakov Telyas
Tax estimate
Metropolitan Realty ExemptionsPrepared the first-year real estate tax projection

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

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