THE CONDO BOOK PROJECT

Residence At 735 Condominium

735 Lafayette Avenue, Brooklyn, NY 11221

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Overview

Units
7 residential
Subway
9 min walk to Bedford-Nostrand Avs GMyrtle-Willoughby Avs G, 12 min
Average $/sf
$1,170Homes in Schedule A, as first offered
Common charges
$300–$715 a monthSponsor's first-year estimate in Schedule A, July 1, 2022 - June 30, 2023
Offering price
$5.17 million total

The sponsor of record is The Residences At 735 Lafayette LLC**, represented by Tsyngauz & Associates, P.C.. The offering plan runs 305 pages. The sponsor has filed 2 amendments, the latest in January 2023. The nearest other condo plan on file is 733 Lafayette Avenue Condominium, next door.

Plan CD210117 · New · accepted Dec 1, 2021 · AG record ↗

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FigureThis building1165 Malcolm X Boulevard28 units · 0.8 miaccepted 2022467 Tompkins37 units · 0.7 miaccepted 2021
Common ChargesPer Square Foot / Month$0.63In line$0.64$0.41
Average Offering PricePer Apartment$738,429Above peers$694,000$668,714
Average PricePer Square Foot$1,170Above peers$1,149$1,049
Property TaxesPer Square Foot / Month$0.96Highest$0.69$0.77
Average Unit SizeSquare Feet631 SFIn line604 SF637 SF

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Unit mix, closings, budgets, finishes and the team, against 165 Malcolm X Boulevard and 467 Tompkins, 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: $4,885,396 at closing against $5,169,000 in Schedule A (p. 39)−5.5%
Average closing price7 homes, on their Schedule A square feet$1,106 / SF
Closingsfirst and latest recordedJul 14, 2022 – Dec 7, 2023

Sales recorded with the Department of Finance (ACRIS) through Sep 30, 2025: 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
1AJul 14, 2022$1,315,000$1,325,000 p. 39−0.8%
4AJul 18, 2022$503,990$555,000 p. 39−9.2%
3AAug 5, 2022$620,000$625,000 p. 39−0.8%
2AAug 11, 2022$560,000$625,000 p. 39−10.4%
4BMar 31, 2023$620,000$685,000 p. 39−9.5%
3BJun 1, 2023$636,406$679,000 p. 39−6.3%
2BDec 7, 2023$630,000$675,000 p. 39−6.7%

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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
The Residences At 735 Lafayette LLC**
Tax estimate
MGNY Consulting Corp.Prepared the first-year real estate tax projection
Construction lender
Alpine Capital Bank$1.85 million loan stated in the plan

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

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