THE CONDO BOOK PROJECT

627 Wilson Avenue Condominium

627 Wilson Avenue, Brooklyn, NY 11207

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Overview

Units
5 residential · 1 commercial
Subway
3 min walk to Wilson Av LHalsey St L, 10 min
Principals
Hok Yu Kwok, Hong Xia Ruan, Hung Chiao Kwok, Lap San Kwok, Wen Hong Guo, Yan Hong Tan
Offering price
$4.13 million total $3.9 million when first offered

The sponsor of record is 124-12 Metro Realty LLC, represented by The Law Office Of Claudia V. Murdoch, P.C.. The offering plan runs 239 pages. The sponsor has filed 3 amendments, the latest in July 2023. The nearest other condo plan on file is 1255 Decatur Street Condominium, next door.

Plan CD210040 · Rehab · accepted Oct 21, 2021 · AG record ↗

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FigureThis building1682 Hancock26 units · 1.2 miaccepted 2021151 Weirfield36 units · 0.3 miaccepted 2021
Average Offering PricePer Apartment$780,000In line$812,500$604,000

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Unit mix, closings, budgets, finishes and the team, against 682 Hancock and 151 Weirfield, 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 the plan5 of 5
Closingsfirst and latest recordedAug 15, 2022 – Jun 6, 2024

Sales recorded with the Department of Finance (ACRIS) through Aug 31, 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 6 closings
HomeRecordedClosing priceSchedule ADifference
5Aug 15, 2022$681,209——
3Aug 16, 2022$713,793——
6Dec 23, 2022$637,406——
4Dec 29, 2022$635,000——
2Sep 13, 2023$660,000——
1Jun 6, 2024$330,000——

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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
124-12 Metro Realty LLC
Principals
Hok Yu Kwok, Hong Xia Ruan, Hung Chiao Kwok, Lap San Kwok, Wen Hong Guo, Yan Hong Tan
Tax estimate
MGNY ConsultingPrepared the first-year real estate tax projection

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

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