THE CONDO BOOK PROJECT

627-629 Dekalb Avenue Condominium

627-629 Dekalb Avenue, Brooklyn, NY 11216

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Overview

Units
35 residential
Subway
3 min walk to Bedford-Nostrand Avs GMyrtle-Willoughby Avs G, 8 min
Principals
Eliahu Nahman
Common charges
$341–$922 a monthSponsor's first-year estimate in Schedule A, July 1, 2018 - June 30, 2019
Offering price
$32.8 million total $31 million when first offered

The sponsor of record is Nostrand-Dekalb Development LLC, represented by The Law Office Of Jay Lichtman, P.C.. The offering plan runs 326 pages. The sponsor has filed 3 amendments, the latest in October 2019. The nearest other condo plan on file is 641 Dekalb Avenue Condominium, next door.

Plan CD170236 · New · accepted Oct 12, 2018 · AG record ↗

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FigureThis building1Cascade E240 units · 0.3 miaccepted 2020Cascade D339 units · 0.3 miaccepted 2020
Average Offering PricePer Apartment$885,920Below peers$893,133$913,250

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Unit mix, closings, budgets, finishes and the team, against Cascade E and Cascade D, 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 A35 of 35
Closing prices vs. Schedule A30 homes: $20,183,337 at closing against $26,788,000 in Schedule A (p. 30)−24.7%
Closingsfirst and latest recordedJun 12, 2019 – Jun 29, 2022

Sales recorded with the Department of Finance (ACRIS) through Nov 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 35 closings
HomeRecordedClosing priceSchedule ADifference
6EJun 12, 2019$625,000$784,800 p. 30−20.4%
4EJun 18, 2019$580,000$784,400 p. 30−26.1%
3BJun 20, 2019$580,000$736,800 p. 30−21.3%
5DJun 27, 2019$660,000$854,400 p. 30−22.8%
5EJun 27, 2019$605,000$784,400 p. 30−22.9%
2DJul 17, 2019$626,224$781,200 p. 30−19.8%
4DJul 29, 2019$665,000$854,400 p. 30−22.2%
4BJul 30, 2019$600,429$736,800 p. 30−18.5%
2BJul 31, 2019$590,585$736,800 p. 30−19.8%
3DAug 1, 2019$625,658$854,400 p. 30−26.8%
4CAug 15, 2019$705,000$824,400 p. 30−14.5%
3EAug 22, 2019$600,768$711,600 p. 30−15.6%
5BSep 16, 2019$621,133$736,800 p. 30−15.7%
4FOct 11, 2019$733,140$918,000 p. 30−20.1%
1AOct 18, 2019$1,081,000$2,259,600 p. 30−52.2%
2ENov 4, 2019$570,000$711,600 p. 30−19.9%
2CNov 6, 2019$640,794$807,600 p. 30−20.7%
6BNov 12, 2019$610,950$736,800 p. 30−17.1%
3ANov 14, 2019$630,000$805,200 p. 30−21.8%
5FNov 25, 2019$720,000$918,000 p. 30−21.6%
3FDec 5, 2019$645,000$918,000 p. 30−29.7%
2FMar 2, 2020$635,000$884,400 p. 30−28.2%
7BApr 21, 2020$1,080,000$1,924,800 p. 30−43.9%
5AApr 22, 2020$675,000$805,200 p. 30−16.2%
4AJul 7, 2020$625,658$805,200 p. 30−22.3%
2AMar 25, 2021$630,703$788,400 p. 30−20%
6FJun 24, 2021$745,000$918,000 p. 30−18.8%
6AOct 12, 2021$685,000$781,200 p. 30−12.3%
3COct 13, 2021$695,000$824,400 p. 30−15.7%
6CDec 16, 2021$696,296$800,400 p. 30−13%
5CJun 29, 2022$2,700,000one deed, 5 homes$824,400 p. 30—
6DJun 29, 2022$2,700,000one deed, 5 homes$854,400 p. 30—
7DJun 29, 2022$2,700,000one deed, 5 homes$856,800 p. 30—
7EJun 29, 2022$2,700,000one deed, 5 homes$782,400 p. 30—
7FJun 29, 2022$2,700,000one deed, 5 homes$901,200 p. 30—

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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
Nostrand-Dekalb Development LLC
Principals
Eliahu Nahman
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Bankwell Bank$9 million recorded

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

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