THE CONDO BOOK PROJECT

446 Macon Street Condominium

446 Macon Street, Brooklyn, NY 11233

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Overview

Units
3 residential
Subway
6 min walk to Utica Av A CKingston-Throop Avs C, 11 min
Principals
Guy Zucker
Average $/sf
$1,146Homes in Schedule A, as first offered
Common charges
$438–$524 a monthSponsor's first-year estimate in Schedule A, January 1, 2021 - December 31, 2021
Offering price
$3.35 million total

The sponsor of record is Z-A7 LLC, represented by Jeffrey Zwick & Associates, P.C.. The offering plan runs 330 pages. The sponsor has filed 1 amendment, the latest in November 2020. The nearest other condo plan on file is 327 Macdonough Street Condominium, next door.

Plan CD200060 · New · accepted Jul 15, 2020 · AG record ↗

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FigureThis building1541 Lafayette23 units · 1.1 miaccepted 2020773 Greene34 units · 0.6 miaccepted 2021
Common ChargesPer Square Foot / Month$0.51Above peers$0.50$0.38
Average Offering PricePer Apartment$1.12MAbove peers$1.07M$1.09M
Average PricePer Square Foot$1,146Above peers$1,033$1,127
Property TaxesPer Square Foot / Month$0.27Lowest$0.41$0.34
Average Unit SizeSquare Feet975 SFIn line1,038 SF965 SF

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Unit mix, closings, budgets, finishes and the team, against 541 Lafayette and 773 Greene, 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 A3 of 3
Closing prices vs. Schedule A3 homes: $3,382,960 at closing against $3,350,000 in Schedule A (p. 32)+1%
Average closing price3 homes, on their Schedule A square feet$1,157 / SF
Closingsfirst and latest recordedApr 8, 2021 – Jul 29, 2021

Sales recorded with the Department of Finance (ACRIS) through Nov 30, 2021: 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 3 closings
HomeRecordedClosing priceSchedule ADifference
CApr 8, 2021$845,148$825,000 p. 32+2.4%
BApr 9, 2021$1,265,000$1,425,000 p. 32−11.2%
AJul 29, 2021$1,272,813$1,100,000 p. 32+15.7%

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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
Z-A7 LLC
Principals
Guy Zucker
Tax estimate
Metropolitan Realty ExemptionsPrepared the first-year real estate tax projection

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

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