THE CONDO BOOK PROJECT

Winthrop Gardens

143 Winthrop Street, Brooklyn, NY 11225

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Overview

Units
10 residential
Subway
6 min walk to Winthrop St 2 5Parkside Av Q, 8 min
Principals
Nigel Boyden
Average $/sf
$1,057Homes in Schedule A, as first offered
Common charges
$197–$715 a monthSponsor's first-year estimate in Schedule A, December 1, 2022 – November 30, 2023
Offering price
$8.06 million total $8.07 million when first offered

The sponsor of record is 143 Winthrop 2018 LLC, represented by Jeffrey Zwick & Associates, P.C.. The offering plan runs 334 pages. The sponsor has filed 2 amendments, the latest in August 2023. The nearest other condo plan on file is 184 Hawthorne Street Condominium, next door.

Plan CD220030 · New · accepted Sep 19, 2022 · AG record ↗

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FigureThis building1406 Fenimore26 units · 0.4 miaccepted 2022412 Fenimore36 units · 0.4 miaccepted 2022
Common ChargesPer Square Foot / Month$0.53Lowest$0.76$0.79
Average Offering PricePer Apartment$807,500Above peers$761,667$760,833
Average PricePer Square Foot$1,057Above peers$1,047$1,048
Property TaxesPer Square Foot / Month$0.42Lowest$1.09$1.09
Average Unit SizeSquare Feet764 SFLarger727 SF726 SF

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Unit mix, closings, budgets, finishes and the team, against 406 Fenimore and 412 Fenimore, 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
Closing prices vs. Schedule A10 homes: $7,615,275 at closing against $8,075,000 in Schedule A (p. 30)−5.7%
Average closing price10 homes, on their Schedule A square feet$996 / SF
Closingsfirst and latest recordedJun 30, 2023 – Mar 28, 2024

Sales recorded with the Department of Finance (ACRIS) through May 31, 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 10 closings
HomeRecordedClosing priceSchedule ADifference
3BJun 30, 2023$495,000$540,000 p. 30−8.3%
2BJul 6, 2023$545,000$585,000 p. 30−6.8%
2AJul 12, 2023$975,000$925,000 p. 30+5.4%
4BJul 17, 2023$1,265,000$1,395,000 p. 30−9.3%
3CAug 15, 2023$375,000$395,000 p. 30−5.1%
1BSep 1, 2023$1,095,000$1,195,000 p. 30−8.4%
2CSep 20, 2023$395,000$425,000 p. 30−7.1%
3ASep 28, 2023$887,500$895,000 p. 30−0.8%
4ASep 28, 2023$870,000$895,000 p. 30−2.8%
1AMar 28, 2024$712,775$825,000 p. 30−13.6%

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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
143 Winthrop 2018 LLC
Principals
Nigel Boyden
Tax estimate
The Mazursky Group, Inc.Prepared the first-year real estate tax projection
Construction lender
S3 Capital$4.23 million recorded

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

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