THE CONDO BOOK PROJECT

Utrecht Ave Condominium

3929 New Utrecht Avenue, Brooklyn, NY 11219

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Overview

Units
7 residential
Subway
3 min walk to 9 Av DFort Hamilton Pkwy D, 5 min
Principals
Xin Xiang Lin, Man Yeung Law
Average $/sf
$788Homes in Schedule A, as first offered
Common charges
$368–$722 a monthSponsor's first-year estimate in Schedule A
Offering price
$3.13 million total

The sponsor of record is Utrecht Ave Property LLC, represented by James J. Matusiak, Attorney At Law. The offering plan runs 365 pages. The sponsor has filed 2 amendments, the latest in October 2021. The nearest other condo plan on file is 3931 New Utrecht Avenue Condominium, next door.

Plan CD190195 · New · accepted May 12, 2021 · AG record ↗

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FigureThis building1832 40th28 units · 0.2 miaccepted 2021861 Sun38 units · 0.6 miaccepted 2020
Common ChargesPer Square Foot / Month$0.83Highest$0.47$0.63
Average Offering PricePer Apartment$452,143Below peers$454,506$461,250
Average PricePer Square Foot$788Below peers$806$793
Property TaxesPer Square Foot / Month$0.39In line$0.80$0.09
Average Unit SizeSquare Feet574 SFIn line564 SF582 SF

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Unit mix, closings, budgets, finishes and the team, against 832 40th and 861 Sun, 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 A7 of 7
Closing prices vs. Schedule A7 homes: $3,138,190 at closing against $3,165,000 in Schedule A (p. 43)−0.8%
Average closing price7 homes, on their Schedule A square feet$781 / SF
Closingsfirst and latest recordedMar 14, 2022 – Sep 25, 2023

Sales recorded with the Department of Finance (ACRIS) through Jan 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 7 closings
HomeRecordedClosing priceSchedule ADifference
2AMar 14, 2022$365,040$345,000 p. 43+5.8%
2BMay 4, 2022$437,034$455,000 p. 43−3.9%
3AMay 25, 2022$365,040$335,000 p. 43+9%
1AJul 22, 2022$661,863$685,000 p. 43−3.4%
4AAug 18, 2022$519,308$495,000 p. 43+4.9%
4BNov 21, 2022$425,880$425,000 p. 43+0.2%
3BSep 25, 2023$364,026$425,000 p. 43−14.3%

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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
Utrecht Ave Property LLC
Principals
Xin Xiang Lin, Man Yeung Law
Tax estimate
SJP Tax Consultants Inc.Prepared the first-year real estate tax projection

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

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