THE CONDO BOOK PROJECT

21 North Henry Street Condominium

21 North Henry Street, Brooklyn, NY 11222

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Overview

Units
6 residential · 4 storage
Subway
9 min walk to Graham Av LGrand St L, 12 min
Principals
Wing Kuen Tsoi
Average $/sf
$1,641Homes in Schedule A, as first offered
Common charges
$229–$530 a monthSponsor's first-year estimate in Schedule A, July 1, 2020 - June 30, 2021
Offering price
$7.03 million total $7.49 million when first offered

The sponsor of record is 88 North Henry Realty LLC, represented by Law Offices Of Hershy Itzkowitz, P.C.. The offering plan runs 321 pages. The sponsor has filed 3 amendments, the latest in August 2021. The nearest other condo plan on file is 19 North Henry Street Condominium, next door.

Plan CD180227 · New · accepted Apr 23, 2020 · AG record ↗

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FigureThis building1Ainslie Street Condominiums27 units · 0.5 miaccepted 202029 Havemeyer35 units · 0.6 miaccepted 2020
Common ChargesPer Square Foot / Month$0.52Below peers$0.61$0.57
Average Offering PricePer Apartment$1.14MIn line$950,714$1.68M
Average PricePer Square Foot$1,641In line$1,480$1,724
Property TaxesPer Square Foot / Month$0.83In line$0.80$0.96
Average Unit SizeSquare Feet696 SFIn line642 SF974 SF

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Unit mix, closings, budgets, finishes and the team, against Ainslie Street Condominiums and 29 Havemeyer, 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 A6 of 6
Closing prices vs. Schedule A6 homes: $5,905,566 at closing against $6,854,000 in Schedule A (p. 28)−13.8%
Average closing price6 homes, on their Schedule A square feet$1,414 / SF
Closingsfirst and latest recordedNov 10, 2020 – Jan 31, 2022

Sales recorded with the Department of Finance (ACRIS) through Jun 30, 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 6 closings
HomeRecordedClosing priceSchedule ADifference
1ANov 10, 2020$1,375,656$1,559,000 p. 28−11.8%
4BNov 25, 2020$1,150,000$1,229,000 p. 28−6.4%
4ADec 18, 2020$742,500$819,000 p. 28−9.3%
3AMay 13, 2021$681,160$799,000 p. 28−14.7%
2BSep 7, 2021$1,320,000$1,649,000 p. 28−20%
2AJan 31, 2022$636,250$799,000 p. 28−20.4%

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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
88 North Henry Realty LLC
Principals
Wing Kuen Tsoi
Tax estimate
Metropolitan Realty Exemptions, IncPrepared the first-year real estate tax projection
Construction lender
East West Bank$5.04 million recorded

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

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