THE CONDO BOOK PROJECT

1109 Halsey Street Condominium

1109 Halsey Street, Brooklyn, NY 11207

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Overview

Units
6 residential
Subway
7 min walk to Halsey St JWilson Av L, 11 min
Principals
Ben Sadykov
Common charges
$20–$798 a monthSponsor's first-year estimate in Schedule A, July 1, 2021 - June 30, 2022
Offering price
$4.21 million total

The sponsor of record is 1109 Halsey LLC, represented by Law Offices Of Hershy Itzkowitz, P.C.. The offering plan runs 318 pages. The sponsor has filed 1 amendment, the latest in February 2022. The nearest other condo plan on file is 134 Weirfield Street Condominium, next door.

Plan CD200103 · Rehab · accepted Jun 2, 2021 · AG record ↗

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FigureThis building1151 Weirfield26 units · 0.1 miaccepted 20211474 Bushwick38 units · 0.5 miaccepted 2021
Average Offering PricePer Apartment$426,500Lowest$604,000$662,714

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Unit mix, closings, budgets, finishes and the team, against 151 Weirfield and 1474 Bushwick, 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 A10 of 10
Closing prices vs. Schedule A4 homes: $2,730,000 at closing against $3,175,000 in Schedule A (p. 33)−14%
Closingsfirst and latest recordedApr 13, 2022 – Apr 21, 2023

Sales recorded with the Department of Finance (ACRIS) through Nov 30, 2023: 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
3BApr 13, 2022$485,000$530,000 p. 33−8.5%
4BApr 13, 2022$500,000$545,000 p. 33−8.3%
3AApr 26, 2022$490,000one deed, 3 homes$485,000 p. 33—
R1Apr 26, 2022$490,000one deed, 3 homes$15,000 p. 33—
R2Apr 26, 2022$490,000one deed, 3 homes$10,000 p. 33—
1AApr 29, 2022$950,000$1,050,000 p. 33−9.5%
4AMay 25, 2022$540,881one deed, 3 homes$555,000 p. 33—
R3May 25, 2022$540,881one deed, 3 homes$10,000 p. 33—
R4May 25, 2022$540,881one deed, 3 homes$15,000 p. 33—
2AApr 21, 2023$795,000$1,050,000 p. 33−24.3%

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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
1109 Halsey LLC
Principals
Ben Sadykov
Tax estimate
Metropolitan Realty, IncPrepared the first-year real estate tax projection

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

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