THE CONDO BOOK PROJECT

279 Sumpter Street Condominium

279 Sumpter Street, Brooklyn, NY 11233

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Overview

Units
17 residential · 9 parking
Subway
4 min walk to Rockaway Av CChauncey St J Z, 6 min
Principals
Jin Tan
Average $/sf
$868Homes in Schedule A, as first offered
Common charges
$184–$307 a monthSponsor's first-year estimate in Schedule A, January 1, 2021 - December 31, 2021
Offering price
$10.9 million total $10.9 million when first offered

The sponsor of record is 277 Sumpter Street LLC **, represented by Hc Law & Associates, P.C.. The offering plan runs 423 pages. The sponsor has filed 2 amendments, the latest in February 2022. The nearest other condo plan on file is 402 Marion Street Condominium, next door.

Plan CD190118 · New · accepted Nov 16, 2020 · AG record ↗

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FigureThis building1Chauncey213 units · 0.3 miaccepted 2020The Evergreen On Putnam321 units · 0.7 miaccepted 2021
Common ChargesPer Square Foot / Month$0.36Lowest$0.49$0.50
Average Offering PricePer Apartment$569,588Below peers$622,000$611,905
Average PricePer Square Foot$868In line$809$906
Property TaxesPer Square Foot / Month$0.11Lowest$0.38$0.88
Average Unit SizeSquare Feet656 SFSmaller768 SF675 SF

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Unit mix, closings, budgets, finishes and the team, against Chauncey and The Evergreen On Putnam, 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 A17 of 17
Closing prices vs. Schedule A17 homes: $9,598,911 at closing against $9,683,000 in Schedule A (p. 60)−0.9%
Average closing price17 homes, on their Schedule A square feet$861 / SF
Closingsfirst and latest recordedDec 23, 2021 – Jun 28, 2022

Sales recorded with the Department of Finance (ACRIS) through Apr 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 17 closings
HomeRecordedClosing priceSchedule ADifference
4BDec 23, 2021$489,000$499,000 p. 60−2%
3DDec 28, 2021$455,000$449,000 p. 60+1.3%
5BDec 29, 2021$699,000$699,000 p. 600%
4EJan 3, 2022$625,000$599,000 p. 60+4.3%
4CJan 7, 2022$697,501$699,000 p. 60−0.2%
2DJan 13, 2022$420,000$449,000 p. 60−6.5%
3CJan 18, 2022$699,000$699,000 p. 600%
4DFeb 2, 2022$475,000$449,000 p. 60+5.8%
2BFeb 22, 2022$450,000$499,000 p. 60−9.8%
3AFeb 24, 2022$485,000$499,000 p. 60−2.8%
3EMar 3, 2022$599,000$599,000 p. 600%
2CMar 15, 2022$692,410$699,000 p. 60−0.9%
2EMar 24, 2022$570,000$599,000 p. 60−4.8%
4AMar 24, 2022$529,000$499,000 p. 60+6%
2AApr 14, 2022$485,000$499,000 p. 60−2.8%
5AApr 29, 2022$749,000$749,000 p. 600%
3BJun 28, 2022$480,000$499,000 p. 60−3.8%

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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
277 Sumpter Street LLC **
Principals
Jin Tan
Tax estimate
Platform Real Estate Inc.Prepared the first-year real estate tax projection

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

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