THE CONDO BOOK PROJECT

301 Degraw Condominium

301 Degraw Street, Brooklyn, NY 11231

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Overview

Units
4 residential
Subway
5 min walk to Carroll St F GBergen St F G, 6 min
Principals
Robin Damaghi
Average $/sf
$1,694Homes in Schedule A, as first offered
Common charges
$391–$757 a monthSponsor's first-year estimate in Schedule A, 5/1/2021 to 4/30/2022
Offering price
$7.89 million total

The sponsor of record is 301 Degraw LLC, represented by Starr Associates, LLP. The offering plan runs 448 pages. The sponsor has filed 3 amendments, the latest in October 2022. The nearest other condo plan on file is 314 Degraw Street Condominium, next door.

Plan CD200158 · New · accepted Apr 9, 2021 · AG record ↗

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FigureThis building1625 Warren24 units · 0.8 miaccepted 2021320 Sackett33 units · 0.1 miaccepted 2020
Common ChargesPer Square Foot / Month$0.48In line$0.44$0.49
Average Offering PricePer Apartment$1.97MBelow peers$2M$2.23M
Average PricePer Square Foot$1,694Above peers$1,649$1,672
Property TaxesPer Square Foot / Month$0.35Lowest$0.71$0.62
Average Unit SizeSquare Feet1,165 SFSmaller1,213 SF1,333 SF

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Unit mix, closings, budgets, finishes and the team, against 625 Warren and 320 Sackett, 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: $8,218,588 at closing against $7,894,000 in Schedule A (p. 49)+4.1%
Average closing price4 homes, on their Schedule A square feet$1,764 / SF
Closingsfirst and latest recordedAug 2, 2022 – Aug 17, 2022

Sales recorded with the Department of Finance (ACRIS) through May 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
2Aug 2, 2022$2,200,000$1,995,000 p. 49+10.3%
3Aug 3, 2022$1,990,000$1,999,000 p. 49−0.5%
1Aug 10, 2022$1,785,188$1,800,000 p. 49−0.8%
4Aug 17, 2022$2,243,400$2,100,000 p. 49+6.8%

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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
301 Degraw LLC
Principals
Robin Damaghi
Tax estimate
Tuchman, Korngold, Weiss, Liebman & Lindemann, LLPPrepared the first-year real estate tax projection

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

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