THE CONDO BOOK PROJECT

151 Weirfield Street Condominium

151 Weirfield Street, Brooklyn, NY 11221

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Overview

Units
6 residential
Subway
7 min walk to Halsey St JWilson Av L, 11 min
Principals
Isaac Broyn, Gil Cygler, Victor Baranes
Average $/sf
$944Homes in Schedule A, as first offered
Common charges
$282–$504 a monthSponsor's first-year estimate in Schedule A, January 1, 2022- December 31, 2022
Offering price
$3.57 million total $3.62 million when first offered

The sponsor of record is 151 Weirfield LLC, represented by The Law Office Of Jay Lichtman, P.C.. The offering plan runs 333 pages. The sponsor has filed 2 amendments, the latest in March 2022. The nearest other condo plan on file is 134 Weirfield Street Condominium, next door.

Plan CD210062 · Rehab · accepted Sep 8, 2021 · AG record ↗

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FigureThis building1373 Palmetto28 units · 0.6 miaccepted 2021682 Hancock36 units · 0.9 miaccepted 2021
Common ChargesPer Square Foot / Month$0.60In line$0.38$0.62
Average Offering PricePer Apartment$604,000Below peers$672,500$812,500
Average PricePer Square Foot$944Below peers$1,014$1,253
Property TaxesPer Square Foot / Month$0.35Below peers$0.82$0.36
Average Unit SizeSquare Feet640 SFSmaller663 SF648 SF

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Unit mix, closings, budgets, finishes and the team, against 373 Palmetto and 682 Hancock, 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: $3,435,555 at closing against $3,624,000 in Schedule A (p. 31)−5.2%
Average closing price6 homes, on their Schedule A square feet$895 / SF
Closingsfirst and latest recordedOct 19, 2022 – Feb 15, 2023

Sales recorded with the Department of Finance (ACRIS) through Nov 30, 2023: 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
2ROct 19, 2022$476,580$499,000 p. 31−4.5%
3Oct 19, 2022$815,000$749,000 p. 31+8.8%
4Oct 20, 2022$800,000$749,000 p. 31+6.8%
1FOct 21, 2022$427,975$499,000 p. 31−14.2%
2FOct 21, 2022$465,000$499,000 p. 31−6.8%
1RFeb 15, 2023$451,000$629,000 p. 31−28.3%

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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
151 Weirfield LLC
Principals
Isaac Broyn, Gil Cygler, Victor Baranes
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection

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

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