THE CONDO BOOK PROJECT

41 Wyckoff Condominium

41 Wyckoff Street, Brooklyn, NY 11201

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Overview

Units
4 residential
Subway
3 min walk to Bergen St F GCarroll St F G, 10 min
Principals
Robin Damaghi
Average $/sf
$1,735Homes in Schedule A, as first offered
Common charges
$384–$765 a monthSponsor's first-year estimate in Schedule A, 5/1/2021 to 4/30/2022
Offering price
$8.2 million total

The sponsor of record is 41 Wyckoff LLC, represented by Starr Associates, LLP. The offering plan runs 450 pages. The sponsor has filed 2 amendments, the latest in May 2022. The nearest other condo plan on file is Ironworks Condominium, next door.

Plan CD200142 · New · accepted Mar 9, 2022 · AG record ↗

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FigureThis building1257 13th24 units · 1.4 miaccepted 2021301 Degraw34 units · 0.2 miaccepted 2021
Common ChargesPer Square Foot / Month$0.48In line$0.40$0.48
Average Offering PricePer Apartment$2.05MIn line$2.13M$1.97M
Average PricePer Square Foot$1,735Above peers$1,626$1,694
Property TaxesPer Square Foot / Month$0.34Below peers$0.58$0.35
Average Unit SizeSquare Feet1,182 SFIn line1,307 SF1,165 SF

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Unit mix, closings, budgets, finishes and the team, against 257 13th and 301 Degraw, 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 A4 of 4
Closing prices vs. Schedule A4 homes: $8,053,299 at closing against $8,199,500 in Schedule A (p. 51)−1.8%
Average closing price4 homes, on their Schedule A square feet$1,704 / SF
Closingsfirst and latest recordedApr 11, 2022 – Apr 13, 2022

Sales recorded with the Department of Finance (ACRIS) through Sep 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 4 closings
HomeRecordedClosing priceSchedule ADifference
4Apr 11, 2022$2,004,111$1,999,500 p. 51+0.2%
2Apr 12, 2022$1,910,000$1,800,000 p. 51+6.1%
3Apr 12, 2022$1,785,188$1,800,000 p. 51−0.8%
1Apr 13, 2022$2,354,000$2,600,000 p. 51−9.5%

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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
41 Wyckoff LLC
Principals
Robin Damaghi
Tax estimate
Tuchman, Korngold, Weiss, Liebman & Lindemann, LLPPrepared the first-year real estate tax projection
Construction lender
Creif 204$1.47 million recorded

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

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