THE CONDO BOOK PROJECT

708a Degraw Street Condominium

708a Degraw Street, Brooklyn, NY 11217

Overview

Units
3 residential
Subway
4 min walk to Union St RBergen St 2 3, 9 min
Principals
Boaz Gilad
Offering price
$2.1 million total

The sponsor of record is Degraw Upreal LLC, represented by Marans Weisz & Newman LLC. The offering plan runs 406 pages. The sponsor has filed 7 amendments, the latest in December 2015. The nearest other condo plan on file is 708 Degraw Street Condominium, next door.

Plan CD130134 · New · accepted Feb 27, 2014 · AG record ↗

Compare

FigureThis building152 Skillman26 units · 1.8 miaccepted 2014392 Bergen33 units · 0.3 miaccepted 2011
Average Offering PricePer Apartment$700,000In line$499,000$1.03M

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Unit mix, closings, budgets, finishes and the team, against 52 Skillman and 392 Bergen, 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 A3 of 3
Closing prices vs. Schedule A3 homes: $4,504,533 at closing against $2,100,000 in Schedule A (p. 170)+114.5%
Closingsfirst and latest recordedAug 17, 2015 – Apr 27, 2016

Sales recorded with the Department of Finance (ACRIS) through Feb 28, 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 3 closings
HomeRecordedClosing priceSchedule ADifference
2Aug 17, 2015$1,261,406$700,000 p. 170+80.2%
3Sep 16, 2015$1,832,850$700,000 p. 170+161.8%
1Apr 27, 2016$1,410,276$700,000 p. 170+101.5%

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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
Degraw Upreal LLC
Principals
Boaz Gilad
Tax estimate
Mazursky GroupPrepared the first-year real estate tax projection
Construction lender
Eastern Capital Group$2.4 million recorded

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

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