173 Mcguinness Boulevard Condominium (The Lumin)
173 Mcguinness Boulevard, Brooklyn, NY 11222
Overview
The Lumin is a 24-unit condo in Brooklyn.
- Offering plan: Accepted February 2023 · 336 pages · floor plans on page 52
- Finishes: Engineered wood floors, quartz kitchen countertops, Fisher & Paykel and Beko appliances, a washer and dryer in each apartment, Phylrich bathroom fittings and a VRF heat pump system for heating and cooling
- Prices: $1,373 a square foot on average, as first offered; $24.5 million in all
- Common charges: $420–$1,178 a month, the sponsor's first-year estimate
- Sponsor: Artlife 173-175 Mcguinness LLC, represented by Marans Newman Tsolis & Nazinitsky LLC; principals Guy Peleg
- Neighborhood: Greenpoint, Brooklyn
- Subway: 6-minute walk to Nassau Av (G); 6 minutes to Greenpoint Av (G)
- Amendments: 2, the latest in June 2025
- Units
- 24 residential
- Neighborhood
- Greenpoint, Brooklyn
- Subway
- 6 min walk to Nassau Av GGreenpoint Av G, 6 min
- Principals
- Guy Peleg
- Average $/sf
- $1,373Homes in Schedule A, as first offered
- Common charges
- $420–$1,178 a monthSponsor's first-year estimate in Schedule A, July 1, 2023 - June 30, 2024
- Offering price
- $24.5 million total
- Floor plans
- Page 52 of the plan
- SubmittedJanuary 2024
- AcceptedFebruary 2023
- 2 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Sep 30, 2026.
First-Year Budget
From our research: NYC Co-op and Condo Tax Abatement: Is It Worth Paying Prevailing Wage? (Board Calculator)
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Property Taxes
The plan's first-year tax estimate, checked against the city's real bills for 24 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 5 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 2 Jun 2, 2025
Amendment records post-closing milestones, adjusts Unit 1B storage size, reconfigures cellar storage, and extends offering term.
- First Unit Closing occurred April 8, 2024
- Permanent Certificate of Occupancy issued July 3, 2025
- Unit 1B lower level reduced from 574sf to 463sf
- Storage units reconfigured; now 14 total (one removed)
- Working Capital Fund $16,714.71; Reserve Fund $16,768.39
- All 24 units sold; no unsold units
- Offering term extended 6 months from amendment date
Amendment 1 Jan 8, 2024
Amendment updates construction completion to March 1, 2024, revises property tax projections, designates preferred lenders, declares plan effective, identifies lot line windows, and extends offering term.
- First Unit Closing date moved from July 1, 2023 to March 1, 2024; rescission rights extended to June 30, 2024 for prior purchasers and February 28, 2025 for new purchasers
- Property tax projection for 2024/2025 tax year: assessed value $1,830,258.00, total taxes $228,819.00; for 2025/2026: assessed value $2,336,238.00, total taxes $292,076.00
- Sponsor's Preferred Lenders designated: Stephen Lascher at Wells Fargo Home Mortgage and Brian Cohen at Guaranteed Rate
- Plan declared effective with four (4) units (16% of building) under accepted purchase agreements
- Units 7A and 8A have one lot line window on South elevation; Units 5C, 6C, 6B, 7B, 8B have lot line windows on North elevation
- Offering term extended by six (6) months
- Schedule A prices increased for 20 homes (median +10.0%): 1A $675,000 → $695,000; 2A $925,000 → $995,000; 2B $750,000 → $825,000; 2D $825,000 → $895,000; ...
- Schedule A prices decreased for 1 home (median -3.8%): 1B $1,450,000 → $1,395,000
Team
- Sponsor
- Artlife 173-175 Mcguinness LLC
- Principals
- Guy Peleg
- Tax estimate
- MGNY Consulting Corp.Prepared the first-year real estate tax projection
- Construction lender
- Israel Discount Bank of New York$3 million recorded
- General contractor
- Boss AssociatesHeld the general construction permit on DOB job 321595029
- Interior designer
- Alchemy StudioReported by cityrealty.com
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- R7A
Today's zoning, from city data (PLUTO 26v2).
Nearby
- 183 Mcguinness Boulevard Condominiumnext door · 24 units · 2021
- 269 Eckford Street Condominium (The )next door · 5 units · 2025
- 232 Eckford Street Condominiumnext door · 5 units · 2024
- Residences On Calyer Condominiumnext door · 5 units · 2026
- 686 Leonard Street Condominiumnext door · 3 units · 2025
- 151 Newel Street Condominium0.1 mi · 4 units · 2022
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