THE CONDO BOOK PROJECT

1622 Condominium

1622 51st Street, Brooklyn, NY 11204

Overview

Units
3 residential
Subway
13 min walk to 18 Av F55 St D, 13 min
Common charges
$392–$1,000 a monthSponsor's first-year estimate in Schedule A, July 1, 2023- June 30, 2024
Offering price
$5.9 million total $2.6 million when first offered

The sponsor of record is 1622 R LLC, represented by The Law Office Of Jay Lichtman, PC. The offering plan runs 348 pages. The sponsor has filed 1 amendment, the latest in May 2024. The nearest other condo plan on file is 5221 16th Avenue Condominium, next door.

Plan CD220233 · New · accepted Jun 5, 2023 · AG record ↗

Compare

FigureThis building11476 45th24 units · 0.4 miaccepted 20231451 59th33 units · 0.4 miaccepted 2024
Average Offering PricePer Apartment$1.97MIn line$1.95M$2M

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Unit mix, closings, budgets, finishes and the team, against 1476 45th and 1451 59th, 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 A3 of 3
Closing prices vs. Schedule A3 homes: $5,114,244 at closing against $5,900,000 in Schedule A (p. 36)−13.3%
Closingsfirst and latest recordedMay 12, 2025 – Nov 26, 2025

Sales recorded with the Department of Finance (ACRIS) through Feb 28, 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 (or, for a home the plan listed without a price, the amendment that priced it); 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 3 closings
HomeRecordedClosing priceSchedule ADifference
1May 12, 2025$3,156,575$3,300,000 Amendment 1, p. 3−4.3%
2May 28, 2025$958,669$1,100,000 p. 36−12.8%
3Nov 26, 2025$999,000$1,500,000 p. 36−33.4%

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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
1622 R LLC
Tax estimate
RE Tax ServicePrepared the first-year real estate tax projection
Construction lender
CV Whole Loan Fund

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

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