THE CONDO BOOK PROJECT

197 Quincy Street Condominium

197 Quincy Street, Brooklyn, NY 11216

Compare

Overview

Units
10 residential
Subway
6 min walk to Bedford-Nostrand Avs GNostrand Av A C, 10 min
Average $/sf
$1,333Homes in Schedule A, as first offered
Common charges
$149–$420 a monthSponsor's first-year estimate in Schedule A, January 1, 2022 To December 31, 2022
Offering price
$10 million total $9.43 million when first offered

The sponsor of record is 197 Quincy LLC, represented by Eial Girtz, PC. The offering plan runs 277 pages. The sponsor has filed 3 amendments, the latest in March 2022. The nearest other condo plan on file is 203 Quincy Street Condominium, next door.

Plan CD200240 · New · accepted Jan 15, 2021 · AG record ↗

Compare

FigureThis building1107 Madison210 units · 0.2 miaccepted 2021151 Quincy310 units · 0.1 miaccepted 2021
Common ChargesPer Square Foot / Month$0.33Lowest$0.48$0.51
Average Offering PricePer Apartment$935,000In line$905,260$970,000
Average PricePer Square Foot$1,333Above peers$1,283$1,130
Property TaxesPer Square Foot / Month$0.65In line$0.31$1.22
Average Unit SizeSquare Feet701 SFSmaller706 SF858 SF

Free Account

See the Full Comp

Unit mix, closings, budgets, finishes and the team, against 107 Madison and 151 Quincy, cited to the offering plans. No credit card required.

Create a free account
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 A10 of 10
Closing prices vs. Schedule A10 homes: $8,975,000 at closing against $9,350,000 in Schedule A (p. 40)−4%
Average closing price10 homes, on their Schedule A square feet$1,280 / SF
Closingsfirst and latest recordedDec 15, 2021 – Jun 17, 2022

Sales recorded with the Department of Finance (ACRIS) through Aug 31, 2026: 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 10 closings
HomeRecordedClosing priceSchedule ADifference
4CDec 15, 2021$1,275,000$1,150,000 p. 40+10.9%
2CDec 17, 2021$999,000$1,100,000 p. 40−9.2%
1BDec 27, 2021$1,245,000$1,300,000 p. 40−4.2%
1ADec 30, 2021$899,000$1,200,000 p. 40−25.1%
3AJan 6, 2022$710,000$700,000 p. 40+1.4%
2BJan 14, 2022$720,000$700,000 p. 40+2.9%
2AFeb 14, 2022$700,000$700,000 p. 400%
3BMar 7, 2022$995,000$1,100,000 p. 40−9.5%
4BApr 22, 2022$722,000$700,000 p. 40+3.1%
4AJun 17, 2022$710,000$700,000 p. 40+1.4%

Pro

Closings are for subscribers

Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.

Subscribe to seeAlready a member? Sign in

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
197 Quincy LLC
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Bullpath Capital$2.84 million loan stated in the plan

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

Nearby