THE CONDO BOOK PROJECT

81 Mcguinness Condominium

81 Mcguinness Boulervard, Brooklyn, NY 11222

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Overview

81 Mcguinness is an 8-unit condo in Brooklyn.

  • Offering plan: Accepted September 2020 · 243 pages · floor plans on page 158
  • Finishes: Granite kitchen countertops, plastic laminate cabinets, Frigidaire and General Electric appliances, Delta bathroom fittings and split-system units for heating and cooling
  • Prices: $1,628 a square foot on average, as first offered; $12.3 million in all ($12.2 million when first offered)
  • Common charges: $208–$665 a month, the sponsor's first-year estimate
  • Sponsor: 81 Mcguinness LLC & Cecilia Realty LLC, represented by Chu & Partners; principals Cecilia L.C. Law and Wayne Moy
  • Neighborhood: Greenpoint, Brooklyn
  • Subway: 4-minute walk to Nassau Av (G); 11 minutes to Greenpoint Av (G)
  • Amendments: 2, the latest in April 2022
  1. SubmittedJuly 2021
  2. AcceptedSeptember 2020
  3. 2 amendments
  4. First sale
  5. Latest sale

Sales

8 of 8homes sold (100%)
Every sale: 8 homes, with price and dateSee it free →

From city records (ACRIS), through Mar 31, 2023.

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 81 Mcguinness's common charges compare with similar buildings? →

Property Taxes

The plan's first-year tax estimate, checked against the city's real bills for 8 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 4 closing costs in the plan, with their pagesSee it free →

Amendments

Amendment 1 June 2021

Plan declared effective after sponsors accepted purchase agreements for two units representing 25% of units in the offering.

  • Plan declared effective by notice to purchasers sent June 2021
  • Two units (4A and 5A) with purchase agreements dated 5/17/21 and 6/3/21 counted toward 25% threshold
  • No material changes to first year operating budget
  • Offering Plan originally accepted for filing September 2, 2020
What the amendment changed, line by lineSee it free →

Team

Sponsor
81 Mcguinness LLC & Cecilia Realty LLC
Principals
Cecilia L.C. Law, Wayne Moy
Tax estimate
Anthony Como AssociatesPrepared the first-year real estate tax projection
Construction lender
Shanghai Commercial Bank$4.35 million loan stated in the plan
General contractors
Ming Mai Construction, Harris Home Repair & Development, LoxtonHeld the general construction permit on DOB job 321233615

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

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The Condo Book Project Are 81 Mcguinness's common charges high for the area? Yes, they're on the high side. 81 Mcguinness budgets $0.57 per square foot a month, against a $0.51 median for the 10 most similar Brooklyn plans.Schedule A Do you want to see the list of similar buildings?