THE CONDO BOOK PROJECT

140 Luquer Street Condominium

140 Luquer Street, Brooklyn, NY 11231

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Overview

Units
0 residential
Subway
7 min walk to Smith-9 Sts F GCarroll St F G, 7 min
Principals
Rey Grabato
Average $/sf
$1,679Homes in Schedule A, as first offered
Common charges
$420 a monthSponsor's first-year estimate in Schedule A, June 1, 2020 through May 31, 2021
Offering price
$7 million total

The sponsor of record is Luquer Street Capital 140, LLC, represented by Gabor & Marotta LLC. The offering plan runs 265 pages. The sponsor has filed 1 amendment, the latest in June 2020. The nearest other condo plan on file is Francesca Condominium, next door.

Plan CD190282 · Rehab · accepted Apr 22, 2020 · AG record ↗

Closings Pro

Homes closed100% of the homes in Schedule A4 of 4
Closing prices vs. Schedule A4 homes: $6,535,000 at closing against $6,995,000 in Schedule A (p. 29)−6.6%
Average closing price4 homes, on their Schedule A square feet$1,569 / SF
Closingsfirst and latest recordedSep 30, 2021 – Mar 16, 2022

Sales recorded with the Department of Finance (ACRIS) through Mar 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 4 closings
HomeRecordedClosing priceSchedule ADifference
Unit 2Sep 30, 2021$1,620,000$1,650,000 p. 29−1.8%
Unit 3Sep 30, 2021$1,530,000$1,650,000 p. 29−7.3%
Unit 4Sep 30, 2021$1,575,000$1,695,000 p. 29−7.1%
Unit 1Mar 16, 2022$1,810,000$2,000,000 p. 29−9.5%

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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
Luquer Street Capital 140, LLC
Principals
Rey Grabato
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Lending One$3.04 million loan stated in the plan

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

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