Brooklyn dominates November first recorded condo closings
December 2, 2020 5:03 am
By Adam Pincus
Last month, condominium developers in New York City closed and recorded their first sales in 13 projects. Of those, 12 were in Brooklyn and one was in Manhattan. There were no Queens projects that recorded their first sale last month.
The Manhattan project, Adellco’s 27E79, a seven-unit project with an $88.5 million sellout at 27 East 79th Street on the Upper East Side, had the most expensive initial closing of the month, at $5.55 million.
The first recorded closings indicate relatively stronger momentum in Brooklyn for new product, as buyers and developers came to the closing table despite the economic headwinds. This analysis is only considering closed and recorded sales, and is not counting contract sales.
Despite Manhattan seeing the most expensive initial sale, it was Brooklyn that saw far more closings. The borough had 12 projects that recorded a first sale, with 23 sales for a total consideration of $30.3 million.
The most expensive first recorded closing in Brooklyn was for $2.157 million at 394 Vanderbilt Avenue in Fort Green, a five-unit project developed by the Brooklyn Home Company with a sellout of $10.4 million. The firm recorded two sales last month for a total of $4.7 million.
Condos with first recorded closings in November 2020
Address
Total Res Units
Res Units Sold
% Sold
Condo Declaration Date of Recording
Dollars sold
Nabe
Current Sellout Price
Project Name
Developer
Borough
FIRST SALE
First sale $$
2142 Gerritsen Avenue
4
1
25
06/13/2019
446,160
Sheepshead Bay
8,086,100
Gerritsen
Scott Leon (Member)
Brooklyn
01/01/1970
446,160
27East 79th Street
7
1
14
07/24/2020
5,552,938
the Upper East Side
88,464,000
27E79
Matthew Adell (Principal Of Registrant)
Manhattan
01/01/1970
5,552,938
148 West Street
5
1
20
07/22/2020
765,000
Greenpoint
9,002,000
148 West Street S
Rafi Manor (Member)
Brooklyn
12/20/2011
765,000
274 22nd Street
5
1
20
09/16/2020
999,000
Sunset Park
4,000,000
Woods @ 22
Baruch Halpern (Sponsor)
Brooklyn
01/01/1970
999,000
362 13th Street
4
1
25
10/06/2020
1,100,000
Park Slope
3,700,000
362 13Th Street
The Susan Leeds Family Irrevoc (Sole Member)|Arthur Leeds (Trustee)
Brooklyn
01/01/1970
1,100,000
394 Vanderbilt Avenue
5
2
40
10/06/2020
4,745,000
Fort Greene
10,410,000
394 Vanderbilt Avenue
William Caleo (Principal)|Zachary Stern (Principal)|Lyndsay Caleo (Principal)
Brooklyn
05/20/2011
2,175,000
88 Lexington Avenue
9
1
11
09/03/2020
975,000
Bedford-Stuyvesant
7,834,000
88 Lexington Avenue
Elazar Eric Orlofsky (Managing Member)
Brooklyn
01/01/1970
975,000
25 Bartlett Street
20
3
15
10/02/2020
4,119,791
East Williamsburg
29,955,250
The 25 Bartlett
Abraham Brach (Principal)
Brooklyn
01/01/1970
1,369,241
102 Huron Street
9
1
11
08/26/2020
1,649,565
Greenpoint
13,860,000
102 Huron Street
Daniel Kaykov (President)
Brooklyn
01/01/1970
1,649,565
33 Frost Street
8
3
38
10/28/2020
4,839,975
East Williamsburg
15,125,500
33 Frost Street
Ari Harkov (Principal)|Warner Lewis (Principal)|Anthony Morena (Member)
Brooklyn
01/01/1970
1,609,497
1249 Dekalb Avenue
7
3
43
09/09/2020
1,842,399
Bushwick
4,422,000
1249 Dekalb Avenue
Shai Birenzweig (Principal)|Ofer Aviv (Principal)
Brooklyn
01/01/1970
524,399
1110 Madison Street
11
4
36
10/19/2020
2,774,986
Bushwick
7,754,000
1110 Madison Street
Tomer Erlich (Managing Member)
Brooklyn
01/01/1970
810,000
861 51st Street
12
1
8
09/02/2020
486,720
Kensington
4,910,000
861 Sun
Benny Fong (Vice President)|Jian Feng Zheng (Officer)|Xiang Ri Chen (Officer)