THE CONDO BOOK PROJECT

74 Heyward Street Condominium

74 Heyward Street, Brooklyn, NY 11206

Overview

Units
4 residential · 1 commercial
Subway
10 min walk to Broadway GFlushing Av G, 10 min
Principals
Joel Ekstein
Common charges
$556–$603 a monthSponsor's first-year estimate in Schedule A, January 1, 2023 - December 31, 2023
Offering price
$4.14 million total

The sponsor of record is Heyward Associates LLC, represented by The Law Office Of Jay Lichtman, P.C.. The offering plan runs 350 pages. The sponsor has filed 1 amendment, the latest in December 2024. The nearest other condo plan on file is 55 Lynch Street Condominium, next door.

Plan CD220095 · New · accepted Feb 2, 2023 · AG record ↗

Compare

FigureThis building1217 Lee23 units · 0.1 miaccepted 2023Kps34 units · 1.2 miaccepted 2022
Average Offering PricePer Apartment$750,000Below peers$812,500$881,250

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Unit mix, closings, budgets, finishes and the team, against 217 Lee and Kps, 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 A4 of 4
Closing prices vs. Schedule A2 homes: $2,413,253 at closing against $1,500,000 in Schedule A (p. 38)+60.9%
Closingsfirst and latest recordedDec 29, 2023 – Dec 27, 2024

Sales recorded with the Department of Finance (ACRIS) through May 31, 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 4 closings
HomeRecordedClosing priceSchedule ADifference
4Dec 29, 2023$1,629,200$800,000 p. 38+103.7%
5Apr 8, 2024$784,053$700,000 p. 38+12%
2Dec 27, 2024$1,751,425one deed, 2 homes——
3Dec 27, 2024$1,751,425one deed, 2 homes——

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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
Heyward Associates LLC
Principals
Joel Ekstein
Tax estimate
RE Tax ServicesPrepared the first-year real estate tax projection

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

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