THE CONDO BOOK PROJECT

Stuyford Haus

1021 Bedford Avenue, Brooklyn, NY 11205

Overview

Units
15 residential · 1 commercial
Subway
1 min walk to Bedford-Nostrand Avs GClasson Av G, 6 min
Principals
Edgardo Kramer
Offering price
$10.6 million total $9.73 million when first offered

The sponsor of record is Bedford Ave Condos, LLC, represented by Certilman Balin Adler & Hyman, LLP. The offering plan runs 469 pages. The sponsor has filed 3 amendments, the latest in December 2022. The nearest other condo plan on file is 1056 Bedford Condominium, next door.

Plan CD200255 · New · accepted Jun 23, 2021 · AG record ↗

Compare

FigureThis building1Chauncey213 units · 2 miaccepted 2020668 Nostrand39 units · 1 miaccepted 2021
Average Offering PricePer Apartment$649,000In line$622,000$697,778

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Unit mix, closings, budgets, finishes and the team, against Chauncey and 668 Nostrand, 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 the plan15 of 15
Closingsfirst and latest recordedOct 7, 2022 – Apr 10, 2023

Sales recorded with the Department of Finance (ACRIS) through Feb 29, 2024: 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 16 closings
HomeRecordedClosing priceSchedule ADifference
202Oct 7, 2022$599,000——
201Oct 11, 2022$370,000——
402Oct 14, 2022$628,000——
401Oct 17, 2022$425,000——
501Oct 17, 2022$435,000——
503Oct 17, 2022$712,775——
502Oct 18, 2022$645,000——
601Oct 19, 2022$445,000——
602Oct 19, 2022$630,000——
603Oct 20, 2022$700,000——
303Oct 25, 2022$680,000——
302Oct 28, 2022$610,000——
RS-1Dec 29, 2022$560,000——
403Feb 22, 2023$659,000——
301Mar 24, 2023$418,000——
203Apr 10, 2023$660,844——

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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
Bedford Ave Condos, LLC
Principals
Edgardo Kramer
Tax estimate
Metropolitan Realty ExemptionsPrepared the first-year real estate tax projection
Construction lender
LPK Capital$4.1 million loan stated in the plan

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

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