THE CONDO BOOK PROJECT

1737 81st Street Condominium

1737 81st Street, Brooklyn, NY 11214

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Overview

Units
6 residential
Subway
3 min walk to 79 St D18 Av D, 5 min
Principals
Donna Napolitano, Richard Napolitano
Average $/sf
$835Homes in Schedule A, as first offered
Common charges
$219–$312 a monthSponsor's first-year estimate in Schedule A, March 1, 2018 through February 28, 2019
Offering price
$4.3 million total

The sponsor of record is 1737 81st Street LLC, represented by Paul A. Leff, Esq.. The offering plan runs 246 pages. The sponsor has filed 1 amendment, the latest in August 2018. The nearest other condo plan on file is 1738 80th Street Condominium, next door.

Plan CD170206 · New · accepted Oct 27, 2017 · AG record ↗

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FigureThis building173 Bay 47th29 units · 1.7 miaccepted 20171551 49th38 units · 1.6 miaccepted 2016
Common ChargesPer Square Foot / Month$0.29Above peers$0.27$0.26
Average Offering PricePer Apartment$716,000In line$800,556$656,250
Average PricePer Square Foot$835Above peers$789$618
Property TaxesPer Square Foot / Month$0.45In line$0.44$0.58
Average Unit SizeSquare Feet857 SFSmallest1,014 SF1,062 SF

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Unit mix, closings, budgets, finishes and the team, against 73 Bay 47th and 1551 49th, 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 closed83% of the homes in Schedule A5 of 6
Closing prices vs. Schedule A5 homes: $3,092,425 at closing against $3,586,000 in Schedule A (p. 25, p. 26)−13.8%
Average closing price5 homes, on their Schedule A square feet$720 / SF
Closingsfirst and latest recordedDec 5, 2018 – Mar 7, 2019

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; 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 5 closings
HomeRecordedClosing priceSchedule ADifference
2BDec 5, 2018$608,914$689,000 p. 25−11.6%
3BDec 20, 2018$639,461$710,000 p. 26−9.9%
2AJan 7, 2019$603,822$689,000 p. 25−12.4%
1AFeb 8, 2019$629,279$749,000 p. 25−16%
1BMar 7, 2019$610,950$749,000 p. 25−18.4%

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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
1737 81st Street LLC
Principals
Donna Napolitano, Richard Napolitano

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

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