THE CONDO BOOK PROJECT

269 Malcolm X Boulevard Condominium

269 Malcolm X Boulevard, Brooklyn, NY 11233

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Overview

Units
8 residential
Subway
7 min walk to Utica Av A CRalph Av C, 13 min
Principals
Yaakov Peretz
Average $/sf
$1,083Homes in Schedule A, as first offered
Common charges
$280–$568 a monthSponsor's first-year estimate in Schedule A, October, 2020 - September 30, 2021
Offering price
$4.97 million total $4.97 million when first offered

The sponsor of record is 269 Malcolm X LLC, represented by Jeffrey Zwick & Associates, P.C.. The offering plan runs 321 pages. The sponsor has filed 1 amendment, the latest in March 2021. The nearest other condo plan on file is 387 Decatur Street Condominium, next door.

Plan CD190234 · New · accepted Aug 21, 2020 · AG record ↗

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FigureThis building112 Lawton27 units · 0.8 miaccepted 2020900 Willoughby37 units · 0.9 miaccepted 2020
Common ChargesPer Square Foot / Month$0.61Lowest$1.24$0.78
Average Offering PricePer Apartment$621,538In line$610,714$652,200
Average PricePer Square Foot$1,083Below peers$1,095$1,145
Property TaxesPer Square Foot / Month$1.19Above peers$1.08$0.24
Average Unit SizeSquare Feet574 SFLarger558 SF570 SF

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Unit mix, closings, budgets, finishes and the team, against 12 Lawton and 900 Willoughby, 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: $4,257,083 at closing against $4,972,300 in Schedule A (p. 29)−14.4%
Average closing price8 homes, on their Schedule A square feet$927 / SF
Closingsfirst and latest recordedDec 29, 2021 – Sep 18, 2024

Sales recorded with the Department of Finance (ACRIS) through Sep 30, 2024: 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
3ADec 29, 2021$485,000$526,300 p. 29−7.8%
4BJan 6, 2022$793,217$779,950 p. 29+1.7%
3BJan 20, 2022$486,000$514,900 p. 29−5.6%
4AMar 15, 2022$475,000$526,300 p. 29−9.7%
1BMar 21, 2022$717,866$948,575 p. 29−24.3%
2AMar 28, 2022$475,000$526,300 p. 29−9.7%
2BMay 11, 2022$475,000$514,900 p. 29−7.7%
1ASep 18, 2024$350,000$635,075 p. 29−44.9%

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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
269 Malcolm X LLC
Principals
Yaakov Peretz
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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