THE CONDO BOOK PROJECT

1122 & 1126 Lafayette Avenue Condominium

1122 & 1126 Lafayette Avenue, Brooklyn, NY 11221

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Overview

Units
18 residential
Subway
2 min walk to Kosciuszko St JGates Av J Z, 6 min
Developer
Integrity Properties NY LLC
Principals
Itzhak Dana
Average $/sf
$1,164Homes in Schedule A, as first offered
Common charges
$185–$348 a monthSponsor's first-year estimate in Schedule A, July 1, 2021 To June 30, 2022
Offering price
$14.1 million total

The sponsor of record is 1122 Lafayette LLC, represented by Eial Girtz P.C.. The offering plan runs 265 pages. The sponsor has filed 3 amendments, the latest in May 2021. The nearest other condo plan on file is 1143 Lafayette Avenue Condominium, next door.

Plan CD200018 · New · accepted Jun 12, 2020 · AG record ↗

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FigureThis building1Willart220 units · 0.8 miaccepted 2020The Harmony316 units · 0.8 miaccepted 2019
Common ChargesPer Square Foot / Month$0.36Lowest$0.61$1.03
Average Offering PricePer Apartment$781,222In line$795,500$598,652
Average PricePer Square Foot$1,164Above peers$1,003$1,030
Property TaxesPer Square Foot / Month$0.88Below peers$0.99$1.22
Average Unit SizeSquare Feet671 SFIn line793 SF581 SF

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Unit mix, closings, budgets, finishes and the team, against Willart and The Harmony, 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 closed56% of the homes in Schedule A10 of 18
Closing prices vs. Schedule A1 home: $505,986 at closing against $479,000 in Schedule A (p. 36)+5.6%
Average closing price1 home, on their Schedule A square feet$1,174 / SF
Closingsfirst and latest recordedApr 19, 2021 – Jul 21, 2021

Sales recorded with the Department of Finance (ACRIS) through May 31, 2025: 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 19, 2021$549,000——
1AApr 21, 2021$505,986$479,000 p. 36+5.6%
1BApr 22, 2021$780,000——
2CApr 27, 2021$650,000——
4CMay 12, 2021$1,049,000——
3AMay 13, 2021$899,000——
4BMay 27, 2021$530,000——
2BJun 11, 2021$520,000——
4AJul 20, 2021$529,000——
2AJul 21, 2021$559,000——

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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
1122 Lafayette LLC
Developer
Integrity Properties NY LLC
Principals
Itzhak Dana
Tax estimate
Tuchman, Korngold, Weiss, Liebman & Lindemann, LLPPrepared the first-year real estate tax projection
Construction lender
Bullpath Capital$4.96 million loan stated in the plan

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

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