THE CONDO BOOK PROJECT

66 Steuben Street Condominium

66 Steuben Street, Brooklyn, NY 11206

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Overview

Units
6 residential
Subway
12 min walk to Classon Av GClinton-Washington Avs G, 13 min
Developers
AJK Capital, LLC, DSAD Capital, LLC, Duke Properties, SRL Investors, LLC
Principals
Albert Dweck
Average $/sf
$1,195Homes in Schedule A, as first offered
Common charges
$265–$413 a monthSponsor's first-year estimate in Schedule A, February 1, 2021 - January 31, 2022
Offering price
$5.14 million total

The sponsor of record is 66 Steuben Street, LLC, represented by The Law Office Of Claudia V. Murdoch, P.C.. The offering plan runs 227 pages. The sponsor has filed 2 amendments, the latest in March 2022. The nearest other condo plan on file is 72 Steuben Condominium, next door.

Plan CD180481 · Rehab · accepted Aug 26, 2020 · AG record ↗

Compare

FigureThis building1127 Putnam26 units · 0.9 miaccepted 2020228 Quincy36 units · 0.9 miaccepted 2020
Common ChargesPer Square Foot / Month$0.50In line$0.33$0.54
Average Offering PricePer Apartment$856,500In line$988,333$690,833
Average PricePer Square Foot$1,195Below peers$1,213$1,234
Property TaxesPer Square Foot / Month$0.59Above peers$0.18$0.58
Average Unit SizeSquare Feet717 SFIn line815 SF560 SF

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Unit mix, closings, budgets, finishes and the team, against 127 Putnam and 228 Quincy, 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: $5,582,011 at closing against $5,139,000 in Schedule A (p. 24)+8.6%
Average closing price6 homes, on their Schedule A square feet$1,298 / SF
Closingsfirst and latest recordedJul 21, 2022 – Aug 4, 2022

Sales recorded with the Department of Finance (ACRIS) through Mar 31, 2026: 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
1LJul 21, 2022$949,000$925,000 p. 24+2.6%
1RJul 21, 2022$965,000$915,000 p. 24+5.5%
2LJul 22, 2022$710,000$745,000 p. 24−4.7%
2RJul 22, 2022$735,000$735,000 p. 240%
3LJul 27, 2022$1,088,011$925,000 p. 24+17.6%
3RAug 4, 2022$1,135,000$894,000 p. 24+27%

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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
66 Steuben Street, LLC
Developers
AJK Capital, LLC, DSAD Capital, LLC, Duke Properties, SRL Investors, LLC
Principals
Albert Dweck
Tax estimate
MGNY ConsultingPrepared the first-year real estate tax projection
Construction lender
Savoy BankLender on the mortgage and building loan agreement recorded September 2019 in ACRIS; $3.26 million recorded

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

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