THE CONDO BOOK PROJECT

941 57th Street Condominium

941 57th Street Condominium, Brooklyn, NY 11219

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Overview

Units
13 residential · 7 parking · 1 commercial
Subway
7 min walk to Fort Hamilton Pkwy N8 Av N, 10 min
Principals
Bing Ru Zheng, Gu Chen
Average $/sf
$1,072Homes in Schedule A, as first offered
Common charges
$254–$602 a monthSponsor's first-year estimate in Schedule A, For the Period of January 1, 2025 to December 31, 2025
Offering price
$10.7 million total $10.7 million when first offered

The sponsor of record is 941 Property LLC, represented by Moritt Hock & Hamroff, LLP. The offering plan runs 319 pages. The sponsor has filed 4 amendments, the latest in June 2026. The nearest other condo plan on file is 82 Real Estate Condominium, next door.

Plan CD240133 · New · accepted Dec 20, 2024 · AG record ↗

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FigureThis building1Bath Beach Residence211 units · 1.8 miaccepted 2024Rol Modern39 units · 0.2 miaccepted 2025
Common ChargesPer Square Foot / Month$0.55Above peers$0.51$0.41
Average Offering PricePer Apartment$626,154Below peers$762,436$648,178
Average PricePer Square Foot$1,072In line$1,011$1,105
Property TaxesPer Square Foot / Month$1.33Highest$0.92$0.44
Average Unit SizeSquare Feet584 SFSmaller754 SF587 SF

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Unit mix, closings, budgets, finishes and the team, against Bath Beach Residence and Rol Modern, 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 closed77% of the homes in Schedule A10 of 13
Closing prices vs. Schedule A10 homes: $5,796,700 at closing against $5,870,000 in Schedule A (p. 43)−1.2%
Average closing price10 homes, on their Schedule A square feet$1,082 / SF
Closingsfirst and latest recordedJun 27, 2025 – Jan 12, 2026

Sales recorded with the Department of Finance (ACRIS) through Feb 28, 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 10 closings
HomeRecordedClosing priceSchedule ADifference
2BJun 27, 2025$529,490$540,000 p. 43−1.9%
2AJun 30, 2025$585,494$510,000 p. 43+14.8%
1BJul 16, 2025$500,000$600,000 p. 43−16.7%
3CJul 22, 2025$610,000$640,000 p. 43−4.7%
3AJul 29, 2025$544,764$520,000 p. 43+4.8%
4BJul 31, 2025$600,768$650,000 p. 43−7.6%
3BAug 18, 2025$557,696$550,000 p. 43+1.4%
2CAug 27, 2025$554,946$630,000 p. 43−11.9%
1CSep 23, 2025$738,231$700,000 p. 43+5.5%
4AJan 12, 2026$575,311$530,000 p. 43+8.5%

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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
941 Property LLC
Principals
Bing Ru Zheng, Gu Chen
Tax estimate
MGNY Consulting GroupPrepared the first-year real estate tax projection
Construction lender
Paul Liteplo and Emilia Liteplo

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

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