THE CONDO BOOK PROJECT

421 Maple Street Condominium

421 Maple Street, Brooklyn, NY 11225

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Overview

Units
10 residential
Subway
7 min walk to Sterling St 2 5Winthrop St 2 5, 9 min
Principals
Dani Mizrachi
Common charges
$215–$472 a monthSponsor's first-year estimate in Schedule A, 1/1/2022 - 12/31/2022
Offering price
$8.28 million total

The sponsor of record is 421 Maple LLC, represented by Law Offices Of Hershy Itzkowitz, P.C.. The offering plan runs 292 pages. The sponsor has filed 2 amendments, the latest in August 2021. The nearest other condo plan on file is 460 East New York Avenue Condominium, next door.

Plan CD200285 · New · accepted Apr 29, 2021 · AG record ↗

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FigureThis building1Maple Sweet210 units · 0.2 miaccepted 2020107 Madison310 units · 1.7 miaccepted 2021
Average Offering PricePer Apartment$828,400In line$735,000$905,260

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Unit mix, closings, budgets, finishes and the team, against Maple Sweet and 107 Madison, 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 A10 of 10
Closing prices vs. Schedule A10 homes: $7,006,500 at closing against $8,284,000 in Schedule A (p. 34)−15.4%
Average closing price8 homes, on their Schedule A square feet$862 / SF
Closingsfirst and latest recordedNov 10, 2021 – Feb 16, 2022

Sales recorded with the Department of Finance (ACRIS) through Sep 30, 2025: 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 10 closings
HomeRecordedClosing priceSchedule ADifference
202Nov 10, 2021$999,500$1,099,000 p. 34−9.1%
203Nov 10, 2021$555,000$648,000 p. 34−14.4%
201Nov 11, 2021$530,000$636,000 p. 34−16.7%
101Nov 17, 2021$718,000$999,000 p. 34−28.1%
402Nov 18, 2021$999,000$1,125,000 p. 34−11.2%
403Nov 18, 2021$570,000$649,000 p. 34−12.2%
303Dec 9, 2021$590,000$657,000 p. 34−10.2%
102Dec 20, 2021$930,000$1,199,000 p. 34−22.4%
301Jan 28, 2022$565,000$636,000 p. 34−11.2%
401Feb 16, 2022$550,000$636,000 p. 34−13.5%

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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
421 Maple LLC
Principals
Dani Mizrachi
Tax estimate
Metropolitan Realty, IncPrepared the first-year real estate tax projection
Construction lender
Conventus$2.52 million loan stated in the plan

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

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