THE CONDO BOOK PROJECT

404 Degraw Street Condominium

404 Degraw Street, Brooklyn, NY 11231

Compare

Overview

Units
2 residential
Subway
5 min walk to Carroll St F GBergen St F G, 6 min
Average $/sf
$1,695Homes in Schedule A, as first offered
Common charges
$504–$666 a monthSponsor's first-year estimate in Schedule A, January 1, 2022 - December 31, 2022
Offering price
$6.59 million total $6.49 million when first offered

The sponsor of record is 404 Degraw LLC, represented by The Law Office Of Claudia V. Murdoch, P.C.. The offering plan runs 253 pages. The sponsor has filed 2 amendments, the latest in April 2022. The nearest other condo plan on file is 406 Degraw Street Condominium, next door.

Plan CD210002 · Rehab · accepted Aug 4, 2021 · AG record ↗

Compare

FigureThis building116 2nd Place24 units · 0.5 miaccepted 2021279 Sackett34 units · 0.3 miaccepted 2021
Common ChargesPer Square Foot / Month$0.31In line$0.27$0.34
Average Offering PricePer Apartment$3.25MHighest$2.74M$2.2M
Average PricePer Square Foot$1,695In line$1,589$1,760
Property TaxesPer Square Foot / Month$0.85Highest$0.38$0.49
Average Unit SizeSquare Feet1,914 SFLarger1,723 SF1,249 SF

Free Account

See the Full Comp

Unit mix, closings, budgets, finishes and the team, against 16 2nd Place and 279 Sackett, cited to the offering plans. No credit card required.

Create a free account
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 A2 of 2
Closing prices vs. Schedule A2 homes: $6,731,846 at closing against $6,490,000 in Schedule A (p. 27)+3.7%
Average closing price2 homes, on their Schedule A square feet$1,759 / SF
Closingsfirst and latest recordedJun 1, 2022

Sales recorded with the Department of Finance (ACRIS) through Jun 30, 2022: 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 2 closings
HomeRecordedClosing priceSchedule ADifference
1Jun 1, 2022$3,567,521$3,495,000 p. 27+2.1%
2Jun 1, 2022$3,164,325$2,995,000 p. 27+5.7%

Pro

Closings are for subscribers

Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.

Subscribe to seeAlready a member? Sign in

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
404 Degraw LLC
Tax estimate
MGNY Consulting Corp.Prepared the first-year real estate tax projection
Construction lender
TIAA Bank$1.35 million loan stated in the plan

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

Nearby