THE CONDO BOOK PROJECT

134 Penn Street Condominium

134 Penn Street, Brooklyn, NY 11211

Overview

Units
0 residential
Subway
9 min walk to Hewes St J MBroadway G, 10 min
Principals
Frady Karpen, Yoel Karpen
Common charges
$116–$856 a monthSponsor's first-year estimate in Schedule A, July 1, 2021 - June 30, 2021
Offering price
$9.3 million total

The sponsor of record is 134 Penn St LLC, represented by The Law Office Of Jay Lichtman, P.C.. The offering plan runs 336 pages. The nearest other condo plan on file is 109-111 Rutledge Street Condominium, next door.

Plan CD200175 · Rehab · accepted Nov 30, 2020 · AG record ↗

Closings Pro

Homes closed60% of the homes in Schedule A3 of 5
Closing prices vs. Schedule A3 homes: $2,998,976 at closing against $3,513,600 in Schedule A (p. 34)−14.6%
Closingsfirst and latest recordedNov 9, 2021 – Mar 21, 2023

Sales recorded with the Department of Finance (ACRIS) through Sep 30, 2026: 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 3 closings
HomeRecordedClosing priceSchedule ADifference
3Nov 9, 2021$1,500,000$1,844,800 p. 34−18.7%
5Dec 29, 2021$999,000$1,128,800 p. 34−11.5%
4Mar 21, 2023$499,976$540,000 p. 34−7.4%

Pro

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
134 Penn St LLC
Principals
Frady Karpen, Yoel Karpen
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Cross Country Savings Bank$1.8 million recorded

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

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