THE CONDO BOOK PROJECT

825 53rd Street Condominium

825 53rd Street, Brooklyn, NY 11220

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Overview

Units
8 residential · 2 commercial
Subway
10 min walk to 8 Av N53 St R, 13 min
Principals
Shuang Lin
Average $/sf
$537Homes in Schedule A, as first offered
Common charges
$215–$356 a monthSponsor's first-year estimate in Schedule A, June 1, 2019 through May 31, 2020
Offering price
$4.94 million total

The sponsor of record is Lin 819 LLC, represented by Paul A. Leff, Esq.. The offering plan runs 241 pages. The sponsor has filed 2 amendments, the latest in February 2021. The nearest other condo plan on file is 821 53rd Street Condominium, next door.

Plan CD180109 · New · accepted Jan 24, 2019 · AG record ↗

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FigureThis building1861 Sun28 units · 0.1 miaccepted 2020838 41st38 units · 0.6 miaccepted 2020
Common ChargesPer Square Foot / Month$0.44In line$0.63$0.37
Average Offering PricePer Apartment$382,500Lowest$461,250$575,250
Average PricePer Square Foot$537Lowest$793$836
Property TaxesPer Square Foot / Month$0.22Highest$0.09$0.14
Average Unit SizeSquare Feet712 SFLarger582 SF688 SF

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Unit mix, closings, budgets, finishes and the team, against 861 Sun and 838 41st, 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 closed0% of the homes in Schedule A0 of 8

Sales recorded with the Department of Finance (ACRIS) through Feb 28, 2023: 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.

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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
Lin 819 LLC
Principals
Shuang Lin
Tax estimate
Ritz Property Management, LLCPrepared the first-year real estate tax projection

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

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