THE CONDO BOOK PROJECT

8154 Bay 16th Street Condominium

8154 Bay 16th Street, Brooklyn, NY 11214

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Overview

Units
6 residential · 5 parking
Subway
4 min walk to 18 Av D79 St D, 5 min
Principals
Anna Cheung, Linda Hung, Philip Hung
Average $/sf
$815Homes in Schedule A, as first offered
Common charges
$142–$226 a monthSponsor's first-year estimate in Schedule A, July 1, 2021 to June 30, 2022
Offering price
$5.19 million total

The sponsor of record is Shion Capital, LLC, represented by Thomas E. Berinato, Attorney At Law. The offering plan runs 259 pages. The nearest other condo plan on file is Bath Beach Residence Condominium, next door.

Plan CD190407 · New · accepted Jun 11, 2021 · AG record ↗

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FigureThis building116 Bay 25th210 units · 0.5 miaccepted 2021Ridge Park310 units · 0.8 miaccepted 2021
Common ChargesPer Square Foot / Month$0.20Lowest$0.40$0.40
Average Offering PricePer Apartment$802,667In line$851,800$627,000
Average PricePer Square Foot$815In line$906$792
Property TaxesPer Square Foot / Month$0.30Lowest$0.72$0.89
Average Unit SizeSquare Feet985 SFLarger940 SF791 SF

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Unit mix, closings, budgets, finishes and the team, against 16 Bay 25th and Ridge Park, 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.

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
Shion Capital, LLC
Principals
Anna Cheung, Linda Hung, Philip Hung
Tax estimate
Thomas E. BerinatoPrepared the first-year real estate tax projection

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

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