THE CONDO BOOK PROJECT

1249 Dekalb Avenue Condominium

1249 Dekalb Avenue, Brooklyn, NY 11221

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Overview

Units
6 residential
Subway
4 min walk to Central Av MKosciuszko St J, 7 min
Principals
Shai Birenzweig, Ofer Aviv
Average $/sf
$1,016Homes in Schedule A, as first offered
Common charges
$252–$504 a monthSponsor's first-year estimate in Schedule A, July 1, 2020 - June 30, 2021
Offering price
$4.42 million total

The sponsor of record is 1249 Dekalb Development LLC, represented by Jeffrey Zwick & Associates, P.C.. The offering plan runs 321 pages. The sponsor has filed 1 amendment, the latest in March 2020. The nearest other condo plan on file is 1257 Dekalb Avenue Condominium, next door.

Plan CD190154 · New · accepted Dec 16, 2019 · AG record ↗

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FigureThis building1778 Marcy26 units · 1.3 miaccepted 202054 Himrod36 units · 0.2 miaccepted 2020
Common ChargesPer Square Foot / Month$0.50In line$0.52$0.33
Average Offering PricePer Apartment$737,000Above peers$666,667$616,500
Average PricePer Square Foot$1,016Above peers$993$915
Property TaxesPer Square Foot / Month$1.15Highest$0.47$0.87
Average Unit SizeSquare Feet726 SFIn line671 SF804 SF

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Unit mix, closings, budgets, finishes and the team, against 778 Marcy and 54 Himrod, 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: $4,108,399 at closing against $4,422,000 in Schedule A (p. 30)−7.1%
Average closing price6 homes, on their Schedule A square feet$944 / SF
Closingsfirst and latest recordedOct 14, 2020 – Jan 26, 2022

Sales recorded with the Department of Finance (ACRIS) through Oct 31, 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 6 closings
HomeRecordedClosing priceSchedule ADifference
1Oct 14, 2020$876,000$899,000 p. 30−2.6%
4FOct 14, 2020$839,000$839,000 p. 300%
3FOct 21, 2020$524,399$559,000 p. 30−6.2%
3ROct 26, 2020$479,000$535,000 p. 30−10.5%
4RDec 21, 2020$505,000$565,000 p. 30−10.6%
2Jan 26, 2022$885,000$1,025,000 p. 30−13.7%

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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
1249 Dekalb Development LLC
Principals
Shai Birenzweig, Ofer Aviv
Tax estimate
Metropolitan Realty ExemptionsPrepared the first-year real estate tax projection

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

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