THE CONDO BOOK PROJECT

39 Argyle Road Condominium

39 Argyle Road, Brooklyn, NY 11218

Overview

Units
16 residential
Subway
6 min walk to Church Av B QBeverley Rd Q, 9 min
Principals
Marc Chemtob, David Chemtob, Samuel Kairy
Average $/sf
$895Homes in Schedule A, as first offered
Common charges
$420–$628 a monthSponsor's first-year estimate in Schedule A, April 1, 2023 - March 31, 2024
Offering price
$11.6 million total

The sponsor of record is 39-45 Argyle LLC, represented by Jeffrey Zwick & Associates, P.C.. The offering plan runs 318 pages. The sponsor has filed 2 amendments, the latest in November 2023. The nearest other condo plan on file is 45 Argyle Road Condominium, next door.

Plan CD210304 · Rehab · accepted Dec 5, 2022 · AG record ↗

Compare

FigureThis building145 Argyle Road216 units · 0 miaccepted 20221091 Rogers38 units · 0.9 miaccepted 2022
Common ChargesPer Square Foot / Month$0.64Above peers$0.63$0.60
Average Offering PricePer Apartment$727,188Above peers$713,750$614,000
Average PricePer Square Foot$895In line$887$912
Property TaxesPer Square Foot / Month$0.74Above peers$0.72$0.45
Average Unit SizeSquare Feet813 SFLarger805 SF674 SF

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Unit mix, closings, budgets, finishes and the team, against 45 Argyle Road and 1091 Rogers, 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 A16 of 16
Closing prices vs. Schedule A16 homes: $11,813,576 at closing against $11,635,000 in Schedule A (p. 31)+1.5%
Average closing price16 homes, on their Schedule A square feet$908 / SF
Closingsfirst and latest recordedFeb 14, 2024 – Jun 3, 2024

Sales recorded with the Department of Finance (ACRIS) through Jul 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 16 closings
HomeRecordedClosing priceSchedule ADifference
1CFeb 14, 2024$625,000$635,000 p. 31−1.6%
2DMar 11, 2024$885,000$675,000 p. 31+31.1%
4AMar 12, 2024$875,000$835,000 p. 31+4.8%
3AMar 20, 2024$885,000$850,000 p. 31+4.1%
4CMar 21, 2024$659,000$650,000 p. 31+1.4%
2BMar 26, 2024$662,500$875,000 p. 31−24.3%
4DMar 27, 2024$875,000$625,000 p. 31+40%
3CApr 4, 2024$665,000$675,000 p. 31−1.5%
2AApr 8, 2024$885,000$875,000 p. 31+1.1%
1DApr 12, 2024$555,000$615,000 p. 31−9.8%
4BApr 12, 2024$659,000$835,000 p. 31−21.1%
1BApr 15, 2024$625,000$555,000 p. 31+12.6%
1AApr 16, 2024$735,000$735,000 p. 310%
2CMay 2, 2024$665,000$700,000 p. 31−5%
3BMay 6, 2024$665,000$850,000 p. 31−21.8%
3DJun 3, 2024$893,076$650,000 p. 31+37.4%

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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
39-45 Argyle LLC
Principals
Marc Chemtob, David Chemtob, Samuel Kairy
Tax estimate
RE Tax ServicePrepared the first-year real estate tax projection

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

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