THE CONDO BOOK PROJECT

1571 61st Street Condominium

1571 61st Street, Brooklyn, NY 11219

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Overview

Units
11 residential
Subway
4 min walk to 62 St/New Utrecht Av D N18 Av N, 7 min
Developer
Leser Group
Principals
Abraham Leser
Average $/sf
$721Homes in Schedule A, as first offered
Offering price
$12 million total $11.8 million when first offered

The sponsor of record is Mapleton Buyer LLC, represented by Law Offices Of Hershy Itzkowitz, P.C.. The offering plan runs 770 pages. The sponsor has filed 1 amendment, the latest in February 2022. The nearest other condo plan on file is 1567 61st Street Condominium, next door.

Plan CD200042 · New · accepted Nov 17, 2021 · AG record ↗

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FigureThis building11567 61st211 units · 0 miaccepted 20211563 61st311 units · 0 miaccepted 2021
Common ChargesPer Square Foot / Month$0.30In line$0.30$0.30
Average Offering PricePer Apartment$1.09MIn line$1.09M$1.09M
Average PricePer Square Foot$721In line$721$721
Average Unit SizeSquare Feet1,511 SFIn line1,511 SF1,511 SF

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Unit mix, closings, budgets, finishes and the team, against 1567 61st and 1563 61st, cited to the offering plans. No credit card required, and it also connects to ChatGPT and Claude, with limited access.

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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.

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Closings Pro

Homes closed91% of the homes in Schedule A10 of 11
Closing prices vs. Schedule A10 homes: $10,169,546 at closing against $10,980,475 in Schedule A (p. 47)−7.4%
Average closing price10 homes, on their Schedule A square feet$671 / SF
Closingsfirst and latest recordedMay 24, 2022 – Jun 17, 2024

Sales recorded with the Department of Finance (ACRIS) through Mar 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
2LMay 24, 2022$989,235$992,925 p. 47−0.4%
3LJun 10, 2022$995,000$992,925 p. 47+0.2%
2RJun 29, 2022$952,064$992,925 p. 47−4.1%
5LJun 29, 2022$995,000$992,925 p. 47+0.2%
1RJul 5, 2022$995,000$1,130,000 p. 47−11.9%
4RSep 15, 2022$975,000$992,925 p. 47−1.8%
5ROct 21, 2022$950,000$992,925 p. 47−4.3%
4LDec 14, 2022$998,000$992,925 p. 47+0.5%
1LMay 1, 2023$800,000$1,250,000 p. 47−36%
6Jun 17, 2024$1,520,247$1,650,000 p. 47−7.9%

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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
Mapleton Buyer LLC
Developer
Leser Group
Principals
Abraham Leser
Tax estimate
Ben Rottenstein Associates Inc.Prepared the first-year real estate tax projection
Construction lender
Axos Bank

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

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