THE CONDO BOOK PROJECT

317 Winthrop Street Condominium

317 Winthrop Street, Brooklyn, NY 11225

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Overview

Units
6 residential
Subway
1 min walk to Winthrop St 2 5Sterling St 2 5, 9 min
Principals
Hadas Morgenstern
Average $/sf
$816Homes in Schedule A, as first offered
Common charges
$259–$707 a monthSponsor's first-year estimate in Schedule A, April 1, 2021 - March 31, 2022
Offering price
$3.25 million total $3.17 million when first offered

The sponsor of record is Winthrop Apart LLC, represented by The Law Office Of Claudia V. Murdoch, P.C.. The offering plan runs 215 pages. The sponsor has filed 5 amendments, the latest in July 2024. The nearest other condo plan on file is 406 Fenimore Street Condominium, next door.

Plan CD200149 · Rehab · accepted Sep 29, 2020 · AG record ↗

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FigureThis building11490 Saint Johns Place28 units · 1.4 miaccepted 20201296 Park Place38 units · 1.3 miaccepted 2020
Common ChargesPer Square Foot / Month$0.63In line$0.48$0.86
Average Offering PricePer Apartment$529,167Lowest$689,375$697,490
Average PricePer Square Foot$816Lowest$1,003$1,029
Property TaxesPer Square Foot / Month$0.41In line$0.42$0.05
Average Unit SizeSquare Feet649 SFSmaller687 SF678 SF

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Unit mix, closings, budgets, finishes and the team, against 1490 Saint Johns Place and 1296 Park Place, 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 closed17% of the homes in Schedule A1 of 6
Closing prices vs. Schedule A1 home: $360,000 at closing against $350,000 in Schedule A (p. 30)+2.9%
Average closing price1 home, on their Schedule A square feet$745 / SF
Closingsfirst and latest recordedApr 18, 2024

Sales recorded with the Department of Finance (ACRIS) through Jun 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 1 closings
HomeRecordedClosing priceSchedule ADifference
3AApr 18, 2024$360,000$350,000 p. 30+2.9%

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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
Winthrop Apart LLC
Principals
Hadas Morgenstern
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Loan TrustLender on the mortgage and building loan agreement recorded January 2020 in ACRIS; $3.17 million recorded

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

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