THE CONDO BOOK PROJECT

246 Maple Street Condominium

246 Maple Street, Brooklyn, NY 11225

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Overview

Units
8 residential
Subway
6 min walk to Sterling St 2 5Winthrop St 2 5, 8 min
Principals
Nigel Boyden, Amitabh Swarup, Debarshi Chaudhury, Duncan Parker, Jonathan Boyden, Paul Peebles, Siddharth Swarup
Offering price
$5.87 million total $5.83 million when first offered

The sponsor of record is 246 Maple - 2018 LLC, represented by Phyllis Marie Kamysek, Pllc. The offering plan runs 275 pages. The sponsor has filed 4 amendments, the latest in October 2022. The nearest other condo plan on file is 306 Lincoln Regal Condominium, next door.

Plan CD190343 · New · accepted Jun 10, 2020 · AG record ↗

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FigureThis building1256 Winthrop28 units · 0.3 miaccepted 2021258 Winthrop38 units · 0.3 miaccepted 2021
Average Offering PricePer Apartment$728,750Above peers$725,500$725,500

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Unit mix, closings, budgets, finishes and the team, against 256 Winthrop and 258 Winthrop, 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 the plan8 of 8
Closingsfirst and latest recordedAug 10, 2022 – Dec 19, 2022

Sales recorded with the Department of Finance (ACRIS) through Sep 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 8 closings
HomeRecordedClosing priceSchedule ADifference
2BAug 10, 2022$775,000——
3BAug 11, 2022$615,000——
4BAug 11, 2022$580,000——
4AAug 12, 2022$1,250,000——
1AAug 16, 2022$635,000——
3AAug 17, 2022$745,000——
1BAug 23, 2022$1,195,000——
2ADec 19, 2022$575,000——

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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
246 Maple - 2018 LLC
Principals
Nigel Boyden, Amitabh Swarup, Debarshi Chaudhury, Duncan Parker, Jonathan Boyden, Paul Peebles, Siddharth Swarup
Tax estimate
Mazursky Group, Inc.Prepared the first-year real estate tax projection
Construction lender
Fc Finance Trust$2.41 million recorded

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

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