THE CONDO BOOK PROJECT

864 Madison Street Condominium

864 Madison Street, Brooklyn, NY 11221

Overview

Units
7 residential
Subway
5 min walk to Gates Av J ZHalsey St J, 9 min
Principals
Solomon Eisenberg
Offering price
$4.72 million total $4.55 million when first offered

The sponsor of record is Madison Lofts LLC, represented by Law Office Of Hershy Itzkowitz, Esq. The offering plan runs 326 pages. The sponsor has filed 5 amendments, the latest in December 2024. The nearest other condo plan on file is 832 Monroe Street Condominium, next door.

Plan CD190185 · Rehab · accepted Sep 10, 2020 · AG record ↗

Compare

FigureThis building11490 Saint Johns Place28 units · 1.2 miaccepted 2020228 Quincy36 units · 1.5 miaccepted 2020
Average Offering PricePer Apartment$650,000Below peers$689,375$690,833

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Unit mix, closings, budgets, finishes and the team, against 1490 Saint Johns Place and 228 Quincy, 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 the plan7 of 7
Closingsfirst and latest recordedMay 17, 2024 – Jun 12, 2025

Sales recorded with the Department of Finance (ACRIS) through Apr 30, 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 7 closings
HomeRecordedClosing priceSchedule ADifference
1AMay 17, 2024$520,000——
3AMay 20, 2024$599,000——
3BMay 21, 2024$625,000——
4May 30, 2024$750,000——
2BJun 28, 2024$600,000——
1BJan 29, 2025$850,000——
2AJun 12, 2025$590,000——

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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
Madison Lofts LLC
Principals
Solomon Eisenberg
Tax estimate
Metropolitan Realty Exemptions, IncPrepared the first-year real estate tax projection
Construction lender
Suw III

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

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