THE CONDO BOOK PROJECT

850 Metropolitan Avenue Condominium

850 Metropolitan Avenue, Brooklyn, NY 11211

Overview

Units
32 residential
Subway
4 min walk to Graham Av LGrand St L, 5 min
Offering price
$34 million total $29.4 million when first offered

The sponsor of record is 850 Metropolitan Ave. Investors, LLC, represented by Marans Weisz & Newman LLC. The sponsor has filed 5 amendments, the latest in May 2021. The nearest other condo plan on file is Trillium Condominium, next door.

Plan CD170100 · Rehab · accepted Jun 7, 2019 · AG record ↗

Closings Pro

Homes closed100% of the homes in the plan32 of 32
Closingsfirst and latest recordedAug 18, 2020 – Aug 1, 2022

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 32 closings
HomeRecordedClosing priceSchedule ADifference
1EAug 18, 2020$745,000——
2AAug 26, 2020$947,000——
3BSep 10, 2020$807,000——
2CSep 11, 2020$787,000——
4ASep 11, 2020$2,057,000——
1BSep 14, 2020$1,110,000——
1ASep 17, 2020$1,250,000——
4BSep 21, 2020$1,100,000——
1ISep 23, 2020$872,000——
3ISep 30, 2020$1,137,000——
4COct 5, 2020$1,555,000——
2FOct 21, 2020$820,000——
2GOct 27, 2020$820,000——
2EOct 30, 2020$834,965——
2INov 2, 2020$1,410,000——
2BNov 6, 2020$822,000——
4EDec 10, 2020$1,287,000——
1HDec 22, 2020$847,000——
1FMar 1, 2021$715,000——
3EMar 11, 2021$836,000——
4FMar 22, 2021$1,374,000——
1CApr 19, 2021$1,080,000——
2HMay 12, 2021$1,065,000——
3FMay 14, 2021$880,000——
3CMay 20, 2021$784,000——
2DMay 25, 2021$860,000——
1GAug 13, 2021$1,050,272——
1JOct 7, 2021$1,035,473——
3ANov 23, 2021$923,553——
1DApr 29, 2022$1,300,000——
3DMay 20, 2022$893,188——
4DAug 1, 2022$1,850,000——

Pro

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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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Team

Sponsor
850 Metropolitan Ave. Investors, LLC
Construction lender
Cerco CapitalLender on the mortgage and building loan agreement recorded May 2019 in ACRIS; $24.9 million recorded

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

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