THE CONDO BOOK PROJECT

Carroll Gardens Condominium

344 Degraw Street, Brooklyn, NY 11231

Overview

Units
26 residential · 18 parking
Subway
4 min walk to Carroll St F GBergen St F G, 5 min
Principals
Carmine Gargano, Joseph Chirico, Paolo Berinici
Average $/sf
$489Homes in Schedule A, as first offered
Common charges
$303–$601 a monthSponsor's first-year estimate in Schedule A, commencing July 1, 2001
Offering price
$15.3 million total

The sponsor of record is 340 Degraw Street Development Corp., represented by Rosen Law LLC. The offering plan runs 323 pages. The sponsor has filed 8 amendments, the latest in June 2014. The nearest other condo plan on file is 350 Degraw Street Condominium, next door.

Plan CD010065 · New · accepted Jul 18, 2001 · AG record ↗

Compare

FigureThis building1Graham225 units · 1.5 miaccepted 2001Park Slope Gardens Condominiums330 units · 0.9 miaccepted 2004
Common ChargesPer Square Foot / Month$0.35Highest$0.22$0.30
Average Offering PricePer Apartment$571,577In line$419,200$625,800
Average PricePer Square Foot$489In line$361$610
Property TaxesPer Square Foot / Month$0.05Lowest$0.09$0.08
Average Unit SizeSquare Feet1,169 SFLarger1,162 SF1,027 SF

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Unit mix, closings, budgets, finishes and the team, against Graham and Park Slope Gardens Condominiums, 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 A26 of 26
Closing prices vs. Schedule A22 homes: $15,914,109 at closing against $12,867,000 in Schedule A (p. 27, p. 28)+23.7%
Average closing price22 homes, on their Schedule A square feet$610 / SF
Closingsfirst and latest recordedJan 22, 2003 – Mar 31, 2021

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 40 closings
HomeRecordedClosing priceSchedule ADifference
3CJan 22, 2003$324,480$399,500 p. 27−18.8%
6CJun 17, 2003$580,000$899,500 p. 28−35.5%
1DFeb 25, 2004$565,129$650,000 p. 27−13.1%
4CMar 29, 2005$908,000$799,500 p. 28+13.6%
6EJul 29, 2005$685,000$759,500 p. 28−9.8%
2CSep 30, 2005$625,000$399,500 p. 27+56.4%
2AMar 22, 2006$590,000$399,500 p. 27+47.7%
4BApr 26, 2006$550,000$439,500 p. 27+25.1%
2DMay 26, 2006$578,500$399,500 p. 27+44.8%
5BSep 28, 2006$600,000$439,500 p. 28+36.5%
4DNov 10, 2006$1,050,000$799,500 p. 28+31.3%
3EJan 31, 2007$585,000$395,500 p. 27+47.9%
1AApr 12, 2007$685,000$550,000 p. 27+24.5%
2BMay 29, 2007$570,000$399,500 p. 27+42.7%
6BAug 16, 2007$1,099,000$899,500 p. 28+22.2%
3AJun 19, 2008$600,000$399,500 p. 27+50.2%
6AAug 15, 2008$1,055,000$859,500 p. 28+22.7%
4AAug 7, 2009$599,000$439,500 p. 27+36.3%
1Dec 22, 2010$275,000——
2Dec 22, 2010$275,000——
3Dec 22, 2010$275,000——
4Dec 22, 2010$275,000——
5Dec 22, 2010$275,000——
6Dec 22, 2010$275,000——
7Dec 22, 2010$275,000——
8Dec 22, 2010$275,000——
9Dec 22, 2010$275,000——
10Dec 22, 2010$275,000——
11Dec 22, 2010$275,000——
12Dec 22, 2010$275,000——
13Dec 22, 2010$275,000——
14Dec 22, 2010$275,000——
15Dec 22, 2010$275,000——
16Dec 22, 2010$275,000——
17Dec 22, 2010$275,000——
18Dec 22, 2010$275,000——
6DSep 16, 2011$930,000$899,500 p. 28+3.4%
5AAug 8, 2013$755,000$439,500 p. 28+71.8%
1BApr 3, 2015$880,000$550,000 p. 27+60%
1CMar 31, 2021$1,100,000$650,000 p. 27+69.2%

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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
340 Degraw Street Development Corp.
Principals
Carmine Gargano, Joseph Chirico, Paolo Berinici
Tax estimate
Ben Rottenstein Associates, LLCPrepared the first-year real estate tax projection
Construction lender
SI Bank & Trust

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

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