THE CONDO BOOK PROJECT

172 Wilson Avenue Condominium

172 Wilson Avenue, Brooklyn, NY 11237

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Overview

Units
8 residential
Subway
4 min walk to Central Av MKnickerbocker Av M, 7 min
Principals
Nir Sapir, Sagiv Amiri, Eran Arkan
Average $/sf
$721Homes in Schedule A, as first offered
Common charges
$354–$539 a monthSponsor's first-year estimate in Schedule A, July 1, 2016
Offering price
$8.59 million total $6.61 million when first offered

The sponsor of record is 172 Wilson Ave LLC, represented by The Law Office Of Jay Lichtman, P.C.. The offering plan runs 323 pages. The sponsor has filed 5 amendments, the latest in November 2016. The nearest other condo plan on file is 176 Wilson Condominium, next door.

Plan CD150245 · New · accepted Dec 2, 2015 · AG record ↗

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FigureThis building1Dod25 units · 0.4 miaccepted 2015129 Stockholm38 units · 0.1 miaccepted 2017
Common ChargesPer Square Foot / Month$0.39In line$0.24$0.44
Average Offering PricePer Apartment$826,250In line$833,600$481,250
Average PricePer Square Foot$721In line$883$707
Property TaxesPer Square Foot / Month$0.83Highest$0.27$0.34
Average Unit SizeSquare Feet1,147 SFLargest944 SF681 SF

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Unit mix, closings, budgets, finishes and the team, against Dod and 129 Stockholm, 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 A8 of 8
Closing prices vs. Schedule A8 homes: $7,016,017 at closing against $6,610,000 in Schedule A (p. 27)+6.1%
Average closing price8 homes, on their Schedule A square feet$765 / SF
Closingsfirst and latest recordedDec 15, 2016 – Feb 8, 2017

Sales recorded with the Department of Finance (ACRIS) through Dec 31, 2025: 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 8 closings
HomeRecordedClosing priceSchedule ADifference
3BDec 15, 2016$1,050,000$750,000 p. 27+40%
2ADec 22, 2016$876,930$730,000 p. 27+20.1%
4AJan 9, 2017$1,221,900$950,000 p. 27+28.6%
2BJan 10, 2017$998,025$750,000 p. 27+33.1%
1AJan 20, 2017$1,069,163$850,000 p. 27+25.8%
1BFeb 8, 2017$600,000$900,000 p. 27−33.3%
3AFeb 8, 2017$600,000$730,000 p. 27−17.8%
4BFeb 8, 2017$600,000$950,000 p. 27−36.8%

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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
172 Wilson Ave LLC
Principals
Nir Sapir, Sagiv Amiri, Eran Arkan
Tax estimate
Metropolitan Realty ExemptionsPrepared the first-year real estate tax projection

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

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