128 Woodpoint Road Condominium (The Woodpoint)
128 Woodpoint Road, Brooklyn, NY 11211
Overview
The Woodpoint is a 5-unit condo in Brooklyn.
- Offering plan: Accepted January 2024 · 271 pages · floor plans on page 98
- Finishes: Wood floors, stone kitchen countertops, wood cabinets, Fisher & Paykel and Bertazzoni appliances, washer/dryer hook-ups and Phylrich bathroom fittings
- Prices: $1,591 a square foot on average, as first offered; $7.9 million in all ($7.64 million when first offered)
- Common charges: $273–$607 a month, the sponsor's first-year estimate
- Sponsor: 128 Woodpoint LLC, represented by Eial Girtz, PC
- Subway: 7-minute walk to Graham Av (L); 9 minutes to Grand St (L)
- Amendments: 5, the latest in May 2026
- Units
- 5 residential
- Subway
- 7 min walk to Graham Av LGrand St L, 9 min
- Average $/sf
- $1,591Homes in Schedule A, as first offered
- Common charges
- $273–$607 a monthSponsor's first-year estimate in Schedule A, July 1, 2024 To June 30, 2025
- Offering price
- $7.9 million total $7.64 million when first offered
- Floor plans
- Page 98 of the plan
- SubmittedMarch 2024
- AcceptedJanuary 2024
- 5 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Jun 30, 2026.
First-Year Budget
From our research: NYC Co-op and Condo Tax Abatement: Is It Worth Paying Prevailing Wage? (Board Calculator)
Ask Claude or ChatGPT: How do The Woodpoint's common charges compare with similar buildings? →
Property Taxes
The plan's first-year tax estimate, checked against the city's real bills for 4 homes.
Each home's estimate, city bills and tax breaksSee it free →Closing Costs
The buyer pays the NYC and NY State transfer taxes, which a seller usually pays.
All 6 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 4 Feb 4, 2025
Amendment extends the plan for 12 months and updates tax assessments and liabilities for the 2025-2026 tax year.
- Plan extended for 12 months
- Projected tax liability for 2025-2026 tax year: $42,550.00 total ($12,552.25 Unit 1, $9,148.25 Unit 2, $9,148.25 Unit 3, $6,063.38 Unit 4, $5,637.88 Unit 5)
- Tentative actual assessed value for 2025-2026: $340,400.00
- Units 3 and 4 have closed; Unit 5 is in contract; Units 1 and 2 remain unsold
- Mortgage from Genesis Capital in amount of $4,304,480.00; Units 3 and 4 released from collateral
- Tax rate for 2025-2026 is 12.500%
- Revised tax opinion letter and revised Schedule A attached
- Schedule A prices increased for 5 homes (median +2.7%): 1 $2,030,000 → $2,150,000; 2 $1,921,500 → $1,950,000; 3 $1,915,308 → $1,950,000; 4 $900,450 → $925,000; ...
Amendment 3 Nov 4, 2024
Plan extended 6 months; first closing completed; sponsor financing details and financial obligations disclosed.
- Plan extended 6 months
- Final Certificate of Occupancy obtained October 8, 2024
- First closing (Unit 4) completed October 30, 2024
- Units 3 and 5 in contract; Units 2 and 4 unsold
- Common charges range $272.77–$442.61; real estate taxes $717.68–$1,164.53 monthly
- Sponsor financing of $4,304,480.00 from Genesis Capital; Unit 4 released after closing
- Working capital account balance $586.72; reserve account $0.00 (should be $2,300.00)
- Sponsor covering operating costs; delaying common charge collection with 30-day notice right
Amendment 2 May 13, 2024
Amendment establishes plan effective status based on one unit contract and sets up new escrow account for down payments.
- Plan declared effective May 8, 2024 based on one unit contract (20% of five units)
- New IOLA escrow account opened at Peapack-Gladstone Bank in Bedminster, NJ
- Escrow agents designated: Eial Girtz and Lisa Kim
- Down payment for Unit 4 transferred to new escrow account
- Escrow account FDIC insured up to $250,000 per deposit
- No interest paid to purchasers on deposits in IOLA account
- Sponsor bears all costs of escrow account maintenance
- Unit 4 in contract; no units leased
Amendment 1 Mar 8, 2024
Offering prices of all 5 units increased.
- Unit 1 price increased from $2,030,000.00 to $2,150,000.00
- Unit 2 price increased from $1,921,500.00 to $1,950,000.00
- Unit 3 price increased from $1,915,308.00 to $1,950,000.00
- Unit 4 price increased from $900,450.00 to $925,000.00
- Unit 5 price increased from $874,350.00 to $925,000.00
Team
- Sponsor
- 128 Woodpoint LLC
- Counsel
- Eial Girtz, PC
- Tax estimate
- Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
- Construction lender
- Genesis Capital$4.3 million loan stated in the plan
- General contractor
- L & M Builders GroupHeld the general construction permit on DOB NOW job B00748466
- Property report
- Demerara Engineering, PLLCPrepared the plan's description of the property and its condition · Named on p. 130
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- R6B
Today's zoning, from city data (PLUTO 26v2).
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