THE CONDO BOOK PROJECT

23 Wyckoff Street Condominium

23 Wyckoff Street, Brooklyn, NY 11201

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Overview

Units
4 residential
Subway
3 min walk to Bergen St F GBorough Hall/Court St 2 3 4 5 R, 9 min
Principals
Omri Bar-Mashiah
Average $/sf
$1,934Homes in Schedule A, as first offered
Common charges
$503–$602 a monthSponsor's first-year estimate in Schedule A, October 1, 2022 - September 30, 2023
Offering price
$5.8 million total

The sponsor of record is 23 Wyckoff LLC, represented by Tsyngauz & Associates, P.C.. The offering plan runs 312 pages. The sponsor has filed 1 amendment, the latest in November 2022. The nearest other condo plan on file is 27 Wyckoff Condominium, next door.

Plan CD210302 · Rehab · accepted Aug 17, 2022 · AG record ↗

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FigureThis building184 6th24 units · 1 miaccepted 2022686 Carroll34 units · 1.1 miaccepted 2022
Common ChargesPer Square Foot / Month$0.52In line$0.71$0.34
Average Offering PricePer Apartment$2.04MAbove peers$1.93M$1.98M
Average PricePer Square Foot$1,934Above peers$1,927$1,871
Property TaxesPer Square Foot / Month$0.54Above peers$0.49$0.36
Average Unit SizeSquare Feet1,057 SFLarger999 SF1,056 SF

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Unit mix, closings, budgets, finishes and the team, against 84 6th and 686 Carroll, 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 A4 of 4
Closing prices vs. Schedule A4 homes: $8,782,406 at closing against $8,175,000 in Schedule A (p. 41)+7.4%
Average closing price4 homes, on their Schedule A square feet$2,077 / SF
Closingsfirst and latest recordedJan 27, 2023 – Feb 24, 2023

Sales recorded with the Department of Finance (ACRIS) through Jul 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 4 closings
HomeRecordedClosing priceSchedule ADifference
1Jan 27, 2023$2,571,081$2,350,000 p. 41+9.4%
3Feb 10, 2023$2,036,500$1,925,000 p. 41+5.8%
2Feb 17, 2023$2,087,413$1,850,000 p. 41+12.8%
4Feb 24, 2023$2,087,413$2,050,000 p. 41+1.8%

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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
23 Wyckoff LLC
Principals
Omri Bar-Mashiah
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Quanta Finance$3.8 million loan stated in the plan

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

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