THE CONDO BOOK PROJECT

917 St. Marks Condominium

917 St. Marks Avenue, Brooklyn, NY 11213

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Overview

Units
4 residential
Subway
8 min walk to Kingston-Throop Avs CKingston Av 3, 9 min
Developer
Lafayette Real Assets Management, LLC
Average $/sf
$1,002Homes in Schedule A, as first offered
Common charges
$669–$1,136 a monthSponsor's first-year estimate in Schedule A, August 1, 2020 - July 31, 2021
Offering price
$4.88 million total

The sponsor of record is Saint Marks 917 LLC, represented by Law Offices Of E. Michael Rosenstock, P.C.. The offering plan runs 282 pages. The sponsor has filed 2 amendments, the latest in September 2021. The nearest other condo plan on file is 943 Saint Marks Condominium, next door.

Plan CD200026 · Rehab · accepted Jun 9, 2020 · AG record ↗

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FigureThis building11007 Bergen24 units · 0.7 miaccepted 20201070 Bergen34 units · 0.5 miaccepted 2021
Common ChargesPer Square Foot / Month$0.64Highest$0.25$0.36
Average Offering PricePer Apartment$1.22MIn line$1.28M$1.07M
Average PricePer Square Foot$1,002In line$1,100$931
Property TaxesPer Square Foot / Month$0.10Lowest$0.41$0.36
Average Unit SizeSquare Feet1,219 SFLarger1,163 SF1,145 SF

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Unit mix, closings, budgets, finishes and the team, against 1007 Bergen and 1070 Bergen, 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: $3,928,943 at closing against $4,885,000 in Schedule A (p. 39)−19.6%
Average closing price4 homes, on their Schedule A square feet$806 / SF
Closingsfirst and latest recordedSep 17, 2021 – Oct 25, 2022

Sales recorded with the Department of Finance (ACRIS) through May 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 4 closings
HomeRecordedClosing priceSchedule ADifference
4Sep 17, 2021$980,000$1,275,000 p. 39−23.1%
1Sep 29, 2021$980,000$1,250,000 p. 39−21.6%
2Jan 5, 2022$980,000$1,175,000 p. 39−16.6%
3Oct 25, 2022$988,943$1,185,000 p. 39−16.5%

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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
Saint Marks 917 LLC
Developer
Lafayette Real Assets Management, 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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