THE CONDO BOOK PROJECT

1404 Bushwick Avenue Condominium

1404 Bushwick Avenue, Brooklyn, NY 11207

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Overview

Units
10 residential
Subway
3 min walk to Chauncey St J ZBushwick Av-Aberdeen St L, 6 min
Principals
Avraham Benhamo
Average $/sf
$887Homes in Schedule A, as first offered
Common charges
$681–$1,472 a monthSponsor's first-year estimate in Schedule A, October 1, 2020 To September 30, 2021
Offering price
$7.27 million total $7.14 million when first offered

The sponsor of record is Bushwick Luxury LLC, represented by Mavrides Moyal Packman & Sadkin, LLP. The offering plan runs 448 pages. The sponsor has filed 3 amendments, the latest in December 2021. The nearest other condo plan on file is Bushwick Avenue Lofts, next door.

Plan CD190311 · Rehab · accepted Dec 28, 2020 · AG record ↗

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FigureThis building11490 Saint Johns Place28 units · 1.4 miaccepted 2020151 Weirfield36 units · 0.4 miaccepted 2021
Common ChargesPer Square Foot / Month$0.98Highest$0.48$0.60
Average Offering PricePer Apartment$713,800Above peers$689,375$604,000
Average PricePer Square Foot$887Below peers$1,003$944
Property TaxesPer Square Foot / Month$0.66Highest$0.42$0.35
Average Unit SizeSquare Feet804 SFLargest687 SF640 SF

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Unit mix, closings, budgets, finishes and the team, against 1490 Saint Johns Place and 151 Weirfield, 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
Closingsfirst and latest recordedNov 30, 2021 – May 23, 2022

Sales recorded with the Department of Finance (ACRIS) through Oct 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
2FNov 30, 2021$650,000——
2RDec 21, 2021$570,000——
4FDec 23, 2021$687,000——
3FJan 7, 2022$655,000——
5RJan 7, 2022$675,000——
5FJan 10, 2022$727,773——
4RFeb 7, 2022$635,000——
1RApr 14, 2022$978,000——
PHMay 5, 2022$730,000——
3RMay 23, 2022$600,500——

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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
Bushwick Luxury LLC
Principals
Avraham Benhamo
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Goldman Sachs Bank$4.19 million recorded

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

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