THE CONDO BOOK PROJECT

725 Lafayette Avenue Condominium

725 Lafayette Avenue, Brooklyn, NY 11221

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Overview

Units
7 residential
Subway
8 min walk to Bedford-Nostrand Avs GMyrtle-Willoughby Avs G, 11 min
Principals
Yair Kerstein, Ziv Bukobza
Average $/sf
$977Homes in Schedule A, as first offered
Common charges
$314–$501 a monthSponsor's first-year estimate in Schedule A, January 1, 2021 - December 31, 2021
Offering price
$4.58 million total $4.45 million when first offered

The sponsor of record is 725 Laf Partners LLC, represented by Eial Girtz, PC. The offering plan runs 269 pages. The sponsor has filed 5 amendments, the latest in September 2024. The nearest other condo plan on file is 733 Lafayette Avenue Condominium, next door.

Plan CD190333 · New · accepted Dec 11, 2020 · AG record ↗

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FigureThis building1832 Monroe27 units · 1.1 miaccepted 202126 Goodwin Place37 units · 1 miaccepted 2020
Common ChargesPer Square Foot / Month$0.54Above peers$0.53$0.50
Average Offering PricePer Apartment$635,286In line$638,429$594,714
Average PricePer Square Foot$977In line$1,019$946
Property TaxesPer Square Foot / Month$0.99Above peers$0.63$0.97
Average Unit SizeSquare Feet650 SFLarger627 SF629 SF

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Unit mix, closings, budgets, finishes and the team, against 832 Monroe and 26 Goodwin Place, 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 A7 of 7
Closing prices vs. Schedule A7 homes: $4,516,412 at closing against $4,447,000 in Schedule A (p. 34)+1.6%
Average closing price7 homes, on their Schedule A square feet$992 / SF
Closingsfirst and latest recordedOct 18, 2023 – Jan 16, 2025

Sales recorded with the Department of Finance (ACRIS) through Apr 30, 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 7 closings
HomeRecordedClosing priceSchedule ADifference
1AOct 18, 2023$570,000$575,000 p. 34−0.9%
4ANov 16, 2023$725,000$699,000 p. 34+3.7%
3BNov 20, 2023$575,000$610,000 p. 34−5.7%
3AJan 4, 2024$605,859$610,000 p. 34−0.7%
2AFeb 23, 2024$585,000$599,000 p. 34−2.3%
1BJan 10, 2025$890,553$749,000 p. 34+18.9%
2BJan 16, 2025$565,000$605,000 p. 34−6.6%

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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
725 Laf Partners LLC
Principals
Yair Kerstein, Ziv Bukobza
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection

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

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