THE CONDO BOOK PROJECT

904 Pacific Street Condominium

904 Pacific Street, Brooklyn, NY 11238

Overview

Units
21 residential · 12 parking
Subway
5 min walk to Clinton-Washington Avs CPark Pl S, 12 min
Principals
Eli Karp
Average $/sf
$733Homes in Schedule A, as first offered
Offering price
$18.3 million total

The sponsor of record is Supreme 904 Pacific, LLC, represented by Marshall S. Schiff, PC. The offering plan runs 309 pages. The sponsor has filed 3 amendments, the latest in March 2012. The nearest other condo plan on file is 591 Washington Avenue Condominium, next door.

Plan CD080586 · New · accepted Jan 26, 2009 · AG record ↗

Compare

FigureThis building1C 560241 units · 1.1 miaccepted 2009Clifton Place332 units · 0.6 miaccepted 2009
Common ChargesPer Square Foot / Month$0.45Above peers$0.43$0.25
Average Offering PricePer Apartment$701,190In line$776,711$596,500
Average PricePer Square Foot$733In line$770$586
Average Unit SizeSquare Feet957 SFSmaller1,088 SF1,018 SF

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Unit mix, closings, budgets, finishes and the team, against C 560 and Clifton Place, 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 A21 of 21
Closing prices vs. Schedule A21 homes: $12,665,594 at closing against $14,725,000 in Schedule A (p. 22, p. 23)−14%
Average closing price21 homes, on their Schedule A square feet$630 / SF
Closingsfirst and latest recordedJun 28, 2012 – Dec 3, 2013

Sales recorded with the Department of Finance (ACRIS) through Dec 31, 2025: 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 21 closings
HomeRecordedClosing priceSchedule ADifference
401Jun 28, 2012$585,000$670,000 p. 23−12.7%
201Jun 29, 2012$388,500$500,000 p. 22−22.3%
402Jul 26, 2012$450,000$570,000 p. 23−21.1%
702Jul 26, 2012$425,000$570,000 p. 23−25.4%
303Aug 22, 2012$599,000$660,000 p. 22−9.2%
305Aug 24, 2012$470,000$555,000 p. 22−15.3%
304Sep 5, 2012$400,000$560,000 p. 22−28.6%
202Sep 6, 2012$560,000$650,000 p. 22−13.8%
403Sep 6, 2012$525,000$620,000 p. 23−15.3%
302Sep 20, 2012$500,000$605,000 p. 22−17.4%
404Sep 24, 2012$456,000$565,000 p. 23−19.3%
502Sep 24, 2012$550,000$630,000 p. 23−12.7%
301Oct 18, 2012$773,870$899,000 p. 22−13.9%
501Dec 10, 2012$880,786$970,000 p. 23−9.2%
601Dec 20, 2012$585,000$675,000 p. 23−13.3%
504Dec 31, 2012$515,000$575,000 p. 23−10.4%
602Jan 7, 2013$497,500$600,000 p. 23−17.1%
503Mar 6, 2013$875,000$1,000,000 p. 23−12.5%
701Apr 4, 2013$848,000$1,000,000 p. 23−15.2%
102Jun 27, 2013$885,878$985,000 p. 22−10.1%
101Dec 3, 2013$896,060$866,000 p. 22+3.5%

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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
Supreme 904 Pacific, LLC
Principals
Eli Karp
Tax estimate
Stiel ConsultingPrepared the first-year real estate tax projection
Construction lender
First American International Bank$5.2 million loan stated in the plan

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

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