THE CONDO BOOK PROJECT

901 Greene Avenue Condominium

901 Greene Avenue, Brooklyn, NY 11221

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Overview

Units
4 residential
Subway
7 min walk to Kosciuszko St JGates Av J Z, 10 min
Average $/sf
$1,071Homes in Schedule A, as first offered
Common charges
$391–$605 a monthSponsor's first-year estimate in Schedule A, July 1, 2020 - June 30, 2021
Offering price
$3.59 million total $3.52 million when first offered

The sponsor of record is 901 Greene Avenue Complex LLC, represented by Eial Girtz P.C.. The offering plan runs 257 pages. The sponsor has filed 2 amendments, the latest in October 2021. The nearest other condo plan on file is 737 Lexington Avenue Condominium, next door.

Plan CD190150 · New · accepted Jan 17, 2020 · AG record ↗

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FigureThis building1641 Dekalb25 units · 1 miaccepted 20201249 Dekalb36 units · 0.5 miaccepted 2019
Common ChargesPer Square Foot / Month$0.54In line$0.62$0.50
Average Offering PricePer Apartment$880,005In line$997,400$737,000
Average PricePer Square Foot$1,071In line$1,110$1,016
Property TaxesPer Square Foot / Month$0.75In line$0.02$1.15
Average Unit SizeSquare Feet822 SFIn line899 SF726 SF

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Unit mix, closings, budgets, finishes and the team, against 641 Dekalb and 1249 Dekalb, 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 A4 of 4
Closing prices vs. Schedule A4 homes: $3,110,000 at closing against $3,520,020 in Schedule A (p. 37)−11.6%
Average closing price4 homes, on their Schedule A square feet$946 / SF
Closingsfirst and latest recordedSep 27, 2021 – Nov 7, 2022

Sales recorded with the Department of Finance (ACRIS) through Nov 30, 2022: 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 4 closings
HomeRecordedClosing priceSchedule ADifference
3Sep 27, 2021$690,000$769,120 p. 37−10.3%
4Sep 27, 2021$700,000$760,760 p. 37−8%
2Jan 26, 2022$675,000$744,040 p. 37−9.3%
1Nov 7, 2022$1,045,000$1,246,100 p. 37−16.1%

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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
901 Greene Avenue Complex LLC
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection

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

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