THE CONDO BOOK PROJECT

567 39th Street Condominium

567 39th Street, Brooklyn, NY 11232

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Overview

Units
6 residential
Subway
8 min walk to 36 St D N R9 Av D, 11 min
Principals
Gamal Hasan
Average $/sf
$840Homes in Schedule A, as first offered
Common charges
$182–$227 a monthSponsor's first-year estimate in Schedule A, January 1, 2013 - December 31, 2013
Offering price
$2.34 million total

The sponsor of record is 567 39 St, LLC, represented by Robert C. Dubno, Esq.. The offering plan runs 268 pages. The sponsor has filed 10 amendments, the latest in December 2023. The nearest other condo plan on file is 602 39th Street Condominium, next door.

Plan CD080369 · New · accepted Sep 18, 2008 · AG record ↗

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FigureThis building1Moderne-Art Condos27 units · 1.3 miaccepted 2008290 13th34 units · 1.3 miaccepted 2009
Common ChargesPer Square Foot / Month$0.47Highest$0.28$0.22
Average Offering PricePer Apartment$390,667Lowest$505,286$1.1M
Average PricePer Square Foot$840Above peers$774$791
Average Unit SizeSquare Feet465 SFSmallest653 SF1,391 SF

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Unit mix, closings, budgets, finishes and the team, against Moderne-Art Condos and 290 13th, 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 A6 of 6
Closing prices vs. Schedule A6 homes: $2,109,180 at closing against $2,344,000 in Schedule A (p. 23)−10%
Average closing price6 homes, on their Schedule A square feet$756 / SF
Closingsfirst and latest recordedJul 28, 2014 – Aug 7, 2024

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 6 closings
HomeRecordedClosing priceSchedule ADifference
1BJul 28, 2014$349,000$399,000 p. 23−12.5%
3ANov 5, 2014$350,500$399,000 p. 23−12.2%
3BNov 5, 2014$350,500$399,000 p. 23−12.2%
2AAug 26, 2015$365,000$399,000 p. 23−8.5%
2BAug 27, 2015$375,180$399,000 p. 23−6%
1AAug 7, 2024$319,000$349,000 p. 23−8.6%

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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
567 39 St, LLC
Principals
Gamal Hasan
Tax estimate
Ben Rottenstein Associates Inc.Prepared the first-year real estate tax projection
Construction lender
The Community Preservation CorporationLender on the mortgage and building loan agreement recorded March 2008 in ACRIS; $1.31 million recorded

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

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