THE CONDO BOOK PROJECT

42 Garfield Place Condominium

42 Garfield Place, Brooklyn, NY 11215

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Overview

Units
2 residential
Subway
4 min walk to Union St R4 Av-9 St F G R, 10 min
Principals
Eli Scharf
Average $/sf
$1,969Homes in Schedule A, as first offered
Common charges
$447–$610 a monthSponsor's first-year estimate in Schedule A, First Year
Offering price
$5.75 million total

The sponsor of record is Habitat On Garfield 1 LLC, represented by Jeffrey Zwick & Associates, P.C.. The offering plan runs 308 pages. The nearest other condo plan on file is 44 Garfield Place Condominium, next door.

Plan CD230168 · Rehab · accepted Mar 26, 2024 · AG record ↗

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FigureThis building1167 Park Slope Residence23 units · 0.6 miaccepted 2024353 6th34 units · 0.3 miaccepted 2024
Common ChargesPer Square Foot / Month$0.36Lowest$0.47$0.72
Average Offering PricePer Apartment$2.88MHighest$2.24M$2.21M
Average PricePer Square Foot$1,969In line$1,647$2,100
Property TaxesPer Square Foot / Month$0.51In line$0.40$0.62
Average Unit SizeSquare Feet1,460 SFLarger1,362 SF1,054 SF

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Unit mix, closings, budgets, finishes and the team, against 167 Park Slope Residence and 353 6th, 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 A2 of 2
Closing prices vs. Schedule A2 homes: $5,353,148 at closing against $5,750,000 in Schedule A (p. 31)−6.9%
Average closing price2 homes, on their Schedule A square feet$1,833 / SF
Closingsfirst and latest recordedAug 14, 2024 – Dec 11, 2024

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 2 closings
HomeRecordedClosing priceSchedule ADifference
1Aug 14, 2024$2,125,000$2,500,000 p. 31−15%
2Dec 11, 2024$3,228,148$3,250,000 p. 31−0.7%

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Closings are for subscribers

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
Habitat On Garfield 1 LLC
Principals
Eli Scharf
Tax estimate
Empire Consulting Services, Inc.Prepared the first-year real estate tax projection

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

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