THE CONDO BOOK PROJECT

708 Degraw Street Condominium

708 Degraw Street, Brooklyn, NY 11217

Compare

Overview

Units
3 residential
Subway
4 min walk to Union St RBergen St 2 3, 9 min
Principals
Eli Scharf
Average $/sf
$1,771Homes in Schedule A, as first offered
Offering price
$6.55 million total $6.3 million when first offered

The sponsor of record is Habitat On Degraw LLC, represented by Jeffrey Zwick & Associates, P.C.. The offering plan runs 307 pages. The sponsor has filed 2 amendments, the latest in July 2023. The nearest other condo plan on file is 708a Degraw Street Condominium, next door.

Plan CD200288 · Rehab · accepted Jan 24, 2022 · AG record ↗

Compare

FigureThis building1494 Seventh23 units · 0.7 miaccepted 2022Townhouse 16 Saint Marks33 units · 0.3 miaccepted 2022
Common ChargesPer Square Foot / Month$0.42Below peers$0.49$0.61
Average Offering PricePer Apartment$2.1MAbove peers$1.92M$1.86M
Average PricePer Square Foot$1,771Above peers$1,684$1,597
Property TaxesPer Square Foot / Month$0.16Lowest$0.53$0.26
Average Unit SizeSquare Feet1,186 SFLarger1,138 SF1,167 SF

Free Account

See the Full Comp

Unit mix, closings, budgets, finishes and the team, against 494 Seventh and Townhouse 16 Saint Marks, cited to the offering plans. No credit card required.

Create a free account
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 A3 of 3
Closing prices vs. Schedule A3 homes: $6,629,916 at closing against $6,300,000 in Schedule A (p. 31)+5.2%
Average closing price3 homes, on their Schedule A square feet$1,863 / SF
Closingsfirst and latest recordedSep 23, 2022 – Oct 31, 2022

Sales recorded with the Department of Finance (ACRIS) through Nov 30, 2023: 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 3 closings
HomeRecordedClosing priceSchedule ADifference
2Sep 23, 2022$1,685,204$1,550,000 p. 31+8.7%
3Oct 20, 2022$2,472,356$2,400,000 p. 31+3%
1Oct 31, 2022$2,472,356$2,350,000 p. 31+5.2%

Pro

Closings are for subscribers

Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.

Subscribe to seeAlready a member? Sign in

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
Habitat On Degraw LLC
Principals
Eli Scharf
Tax estimate
Empire Consulting Services, Inc.Prepared the first-year real estate tax projection
Construction lender
ICE Lender HoldingsLender on the mortgage and building loan agreement recorded October 2021 in ACRIS; $3.7 million recorded

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

Nearby