Degraw Gardens Condominium
480 Degraw Street A/K/A 280 Bond Street, Brooklyn, NY 11217
Overview
- Units
- 13 residential
- Subway
- 8 min walk to Carroll St F GBergen St F G, 9 min
- Developers
- Build360, MDF Development Group
- Principals
- Mark Rechler, Kenneth Hudes, Joshua Egendorf, Matthew Frank
- Average $/sf
- $1,909Homes in Schedule A, as first offered
- Common charges
- $441–$947 a monthSponsor's first-year estimate in Schedule A, October 1, 2021
- Offering price
- $39.1 million total $39.4 million when first offered
- Floor plans
- Page 213 of the plan
The sponsor of record is Gowanus Park LLC, represented by Certilman Balin Adler & Hyman, LLP. The offering plan runs 359 pages. The sponsor has filed 4 amendments, the latest in March 2023. The nearest other condo plan on file is 477 Sackett Street Condominium, next door.
Plan CD210064 · New · accepted Aug 23, 2021 · AG record ↗
Compare
| Figure | This building1 | 450 Warren218 units · 0.2 miaccepted 2021 | 179 4th316 units · 0.4 miaccepted 2021 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $0.39Below peers | $0.44 | $0.63 |
| Average Offering PricePer Apartment | $2.89MHighest | $2.19M | $1.18M |
| Average PricePer Square Foot | $1,909Highest | $1,453 | $1,603 |
| Property TaxesPer Square Foot / Month | $0.86In line | $0.99 | $0.52 |
| Average Unit SizeSquare Feet | 1,511 SFLarger | 1,505 SF | 737 SF |
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Unit mix, closings, budgets, finishes and the team, against 450 Warren and 179 4th, cited to the offering plans. No credit card required.
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- 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.
Units & Prices
Closings Pro
| Homes closed100% of the homes in Schedule A | 13 of 13 |
| Closing prices vs. Schedule A13 homes: $37,932,597 at closing against $37,515,000 in Schedule A (p. 33) | +1.1% |
| Average closing price13 homes, on their Schedule A square feet | $1,931 / SF |
| Closingsfirst and latest recorded | Jul 26, 2022 – Feb 15, 2024 |
Sales recorded with the Department of Finance (ACRIS) through Feb 29, 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 13 closings
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| 3C | Jul 26, 2022 | $2,700,000 | $2,600,000 p. 33 | +3.8% |
| 3E | Jul 26, 2022 | $2,270,531 | $2,120,000 p. 33 | +7.1% |
| 3D | Jul 27, 2022 | $2,825,000 | $2,795,000 p. 33 | +1.1% |
| 3F | Jul 27, 2022 | $2,195,000 | $2,195,000 p. 33 | 0% |
| PHC | Jul 28, 2022 | $2,530,493 | $2,500,000 p. 33 | +1.2% |
| 3B | Aug 11, 2022 | $2,999,000 | $2,900,000 p. 33 | +3.4% |
| PHA | Aug 12, 2022 | $3,596,935 | $2,995,000 p. 33 | +20.1% |
| 1B | Aug 17, 2022 | $3,130,000 | $3,025,000 p. 33 | +3.5% |
| 1C | Oct 11, 2022 | $2,724,638 | $3,025,000 p. 33 | −9.9% |
| 1D | Apr 5, 2023 | $3,275,000 | $3,440,000 p. 33 | −4.8% |
| 3A | Apr 19, 2023 | $2,626,000 | $2,700,000 p. 33 | −2.7% |
| PHB | Jun 27, 2023 | $2,860,000 | $2,500,000 p. 33 | +14.4% |
| 1A | Feb 15, 2024 | $4,200,000 | $4,720,000 p. 33 | −11% |
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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.
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
- Gowanus Park LLC
- Developers
- Build360, MDF Development GroupReported by web.archive.org
- Principals
- Mark Rechler, Kenneth Hudes, Joshua Egendorf, Matthew Frank
- Tax estimate
- Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
- Construction lender
- First Republic Bank$15.5 million loan stated in the plan
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- 477 Sackett Street Condominiumnext door · 2 units · 2026
- Carroll Garden Condominiumnext door · 9 units · 2003
- 262 Bond Street Condominiumnext door · 2 units · 2006
- 437 Sackett Street Condominiumnext door · 2 units · 2024
- 415 Degraw Street Condominiumnext door · 6 units · 1 parking · 2023
- 434 Union Street Condominiumnext door · 3 units · 2020