THE CONDO BOOK PROJECT

818 60th Street Condominium

818 60th Street, Brooklyn, NY 11220

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Overview

Units
8 residential · 3 commercial
Subway
3 min walk to 8 Av NFort Hamilton Pkwy N, 7 min
Principals
Yu Kei Lam, Shi Wei Lei
Average $/sf
$959Homes in Schedule A, as first offered
Common charges
$204–$270 a monthSponsor's first-year estimate in Schedule A, April 1, 2022 to March 31, 2023
Offering price
$11.4 million total

The sponsor of record is 818 60th St Realty LLC, represented by Moritt Hock & Hamroff, LLP. The offering plan runs 321 pages. The sponsor has filed 2 amendments, the latest in June 2023. The nearest other condo plan on file is 857 60th Street Condominium, next door.

Plan CD210180 · New · accepted Jun 3, 2022 · AG record ↗

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FigureThis building1915 55st28 units · 0.3 miaccepted 202282 Real Estate39 units · 0.3 miaccepted 2022
Common ChargesPer Square Foot / Month$0.35Lowest$0.51$0.65
Average Offering PricePer Apartment$666,813In line$756,800$399,125
Average PricePer Square Foot$959Highest$799$664
Property TaxesPer Square Foot / Month$0.87Highest$0.46$0.67
Average Unit SizeSquare Feet695 SFIn line948 SF601 SF

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Unit mix, closings, budgets, finishes and the team, against 915 55st and 82 Real Estate, 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 A8 of 8
Closing prices vs. Schedule A8 homes: $4,666,551 at closing against $5,334,500 in Schedule A (p. 44)−12.5%
Average closing price8 homes, on their Schedule A square feet$839 / SF
Closingsfirst and latest recordedFeb 23, 2023 – Dec 27, 2023

Sales recorded with the Department of Finance (ACRIS) through Jul 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 8 closings
HomeRecordedClosing priceSchedule ADifference
3AFeb 23, 2023$575,311$684,000 p. 44−15.9%
6AApr 12, 2023$507,000$550,500 p. 44−7.9%
3BMay 30, 2023$560,038$720,000 p. 44−22.2%
5BJun 14, 2023$621,133$693,500 p. 44−10.4%
4AJun 20, 2023$590,585$684,000 p. 44−13.7%
6BJul 24, 2023$580,403$625,000 p. 44−7.1%
5ASep 8, 2023$621,133$684,000 p. 44−9.2%
4BDec 27, 2023$610,950$693,500 p. 44−11.9%

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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
818 60th St Realty LLC
Principals
Yu Kei Lam, Shi Wei Lei
Tax estimate
Highpoint Incentives Inc.Prepared the first-year real estate tax projection
Construction lender
Amerasia Bank$6.07 million recorded

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

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