THE CONDO BOOK PROJECT

82 Real Estate Condominium

935 57th Street, Brooklyn, NY 11219

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Overview

Units
9 residential · 2 commercial
Subway
7 min walk to Fort Hamilton Pkwy N8 Av N, 9 min
Principals
Li Zhu
Average $/sf
$664Homes in Schedule A, as first offered
Common charges
$291–$570 a monthSponsor's first-year estimate in Schedule A, July 1, 2022- June 30, 2023
Offering price
$3.83 million total $4.42 million when first offered

The sponsor of record is 82 Management LLC, represented by Lawrence Lixin Yang, P.C.. The offering plan runs 335 pages. The sponsor has filed 5 amendments, the latest in June 2024. The nearest other condo plan on file is 941 57th Street Condominium, next door.

Plan CD210054 · New · accepted Mar 22, 2022 · AG record ↗

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FigureThis building193329 units · 0.1 miaccepted 2021Golden Garden38 units · 0.3 miaccepted 2022
Common ChargesPer Square Foot / Month$0.65Highest$0.47$0.38
Average Offering PricePer Apartment$399,125In line$455,000$373,750
Average PricePer Square Foot$664Above peers$601$598
Property TaxesPer Square Foot / Month$0.67Highest$0.50$0.20
Average Unit SizeSquare Feet601 SFSmaller757 SF625 SF

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Unit mix, closings, budgets, finishes and the team, against 933 and Golden Garden, 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 A8 of 8
Closing prices vs. Schedule A8 homes: $2,798,640 at closing against $3,193,000 in Schedule A (p. 41)−12.4%
Average closing price8 homes, on their Schedule A square feet$582 / SF
Closingsfirst and latest recordedApr 22, 2024 – Sep 12, 2024

Sales recorded with the Department of Finance (ACRIS) through Sep 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 8 closings
HomeRecordedClosing priceSchedule ADifference
2AApr 22, 2024$395,460$465,000 p. 41−15%
2BApr 22, 2024$334,620$399,000 p. 41−16.1%
3AApr 22, 2024$253,500$296,000 p. 41−14.4%
3BApr 22, 2024$263,640$307,000 p. 41−14.1%
4AApr 22, 2024$294,060$298,000 p. 41−1.3%
4BApr 22, 2024$405,600$449,000 p. 41−9.7%
4CApr 22, 2024$496,860$580,000 p. 41−14.3%
3CSep 12, 2024$354,900$399,000 p. 41−11.1%

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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
82 Management LLC
Principals
Li Zhu
Tax estimate
LAWRENCE LIXIN YANG, P.C.Prepared the first-year real estate tax projection

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

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