THE CONDO BOOK PROJECT

1568 38th Street Condominium

1568 38th Street, Brooklyn, NY 11218

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Overview

Units
3 residential
Subway
3 min walk to Ditmas Av FChurch Av F G, 8 min
Principals
Chaya Roiza Hendel Zitronenbaum
Average $/sf
$654Homes in Schedule A, as first offered
Common charges
$291–$329 a monthSponsor's first-year estimate in Schedule A, 1/1/2022 -12/31/2022
Offering price
$1.71 million total

The sponsor of record is Chaya Roiza Hendel Zitronenbaum, represented by Law Offices Of Hershy Itzkowitz, P.C.. The offering plan runs 287 pages. The sponsor has filed 1 amendment, the latest in May 2023. The nearest other condo plan on file is 1519 39th Street Condominium, next door.

Plan CD200230 · New · accepted Jul 16, 2021 · AG record ↗

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FigureThis building11451 61st23 units · 1.1 miaccepted 20211447 61st33 units · 1.1 miaccepted 2021
Common ChargesPer Square Foot / Month$0.27Lowest$0.36$0.33
Average Offering PricePer Apartment$850,000Below peers$870,000$935,000
Average PricePer Square Foot$654In line$660$654
Property TaxesPer Square Foot / Month$0.46Highest$0.16$0.15
Average Unit SizeSquare Feet1,295 SFSmaller1,319 SF1,429 SF

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Unit mix, closings, budgets, finishes and the team, against 1451 61st and 1447 61st, 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 closed67% of the homes in Schedule A2 of 3
Closing prices vs. Schedule A2 homes: $1,899,000 at closing against $1,700,000 in Schedule A (p. 33)+11.7%
Average closing price2 homes, on their Schedule A square feet$730 / SF
Closingsfirst and latest recordedFeb 23, 2023 – Apr 27, 2023

Sales recorded with the Department of Finance (ACRIS) through Jul 31, 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 2 closings
HomeRecordedClosing priceSchedule ADifference
3Feb 23, 2023$900,000$850,000 p. 33+5.9%
2Apr 27, 2023$999,000$850,000 p. 33+17.5%

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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
Chaya Roiza Hendel Zitronenbaum
Principals
Chaya Roiza Hendel Zitronenbaum
Tax estimate
Metropolitan Realty, IncPrepared the first-year real estate tax projection

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

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