THE CONDO BOOK PROJECT

Battery Avenue Condominium

97 & 101 Battery Avenue, Brooklyn, NY 11228

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Overview

Units
6 residential · 4 parking
Subway
10 min walk to Bay Ridge-95 St R86 St R, 12 min
Principals
Joseph Serrano, John LaRocca, Lisa Noce
Common charges
$140–$183 a monthSponsor's first-year estimate in Schedule A, September 1, 2020 through August 31, 2021
Offering price
$5.89 million total

The sponsor of record is 105 Battery Avenue LLC Et Al., represented by Paul A. Leff, Esq. The offering plan runs 278 pages. The sponsor has filed 1 amendment, the latest in November 2020. The nearest other condo plan on file is 118 Battery Avenue Condominium, next door.

Plan CD190215 · New · accepted May 22, 2020 · AG record ↗

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FigureThis building11325 53rd26 units · 1.9 miaccepted 20201415 6738 units · 1.3 miaccepted 2020
Average Offering PricePer Apartment$955,000Below peers$1.07M$957,500

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Unit mix, closings, budgets, finishes and the team, against 1325 53rd and 1415 67, 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 A6 of 6
Closing prices vs. Schedule A6 homes: $4,883,000 at closing against $5,730,000 in Schedule A (p. 27)−14.8%
Closingsfirst and latest recordedJun 8, 2021 – Feb 22, 2022

Sales recorded with the Department of Finance (ACRIS) through Mar 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 6 closings
HomeRecordedClosing priceSchedule ADifference
1BJun 8, 2021$850,000$985,000 p. 27−13.7%
2AJul 19, 2021$835,000$895,000 p. 27−6.7%
3BJul 22, 2021$879,000$985,000 p. 27−10.8%
2BJul 28, 2021$500,000$895,000 p. 27−44.1%
1AAug 12, 2021$905,000$985,000 p. 27−8.1%
3AFeb 22, 2022$914,000$985,000 p. 27−7.2%

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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
105 Battery Avenue LLC Et Al.
Principals
Joseph Serrano, John LaRocca, Lisa Noce
Construction lender
1st Constitution Bank

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

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