THE CONDO BOOK PROJECT

206 Prospect Place Condominium

206 Prospect Place, Brooklyn, NY 11238

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Overview

Units
4 residential
Subway
4 min walk to 7 Av B QGrand Army Plaza 2 3, 6 min
Principals
Gamal Hasan
Average $/sf
$938Homes in Schedule A, as first offered
Common charges
$277–$525 a monthSponsor's first-year estimate in Schedule A, February 1, 2012 - January 31, 2013
Offering price
$7.53 million total $4.73 million when first offered

The sponsor of record is 206 Prospect, LLC, represented by The Law Office Of Claudia V. Murdoch, P.C.. The offering plan runs 194 pages. The sponsor has filed 17 amendments, the latest in October 2023. The nearest other condo plan on file is 215 Park Place Condominium, next door.

Plan CD110080 · New · accepted Dec 23, 2011 · AG record ↗

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FigureThis building1392 Bergen23 units · 0.5 miaccepted 2011290 13th34 units · 1.2 miaccepted 2009
Common ChargesPer Square Foot / Month$0.29Highest$0.19$0.22
Average Offering PricePer Apartment$1.18MAbove peers$1.03M$1.1M
Average PricePer Square Foot$938Highest$726$791
Property TaxesPer Square Foot / Month$0.17Highest$0.10$0.02
Average Unit SizeSquare Feet1,262 SFSmaller1,423 SF1,391 SF

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Unit mix, closings, budgets, finishes and the team, against 392 Bergen and 290 13th, 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 A4 homes: $8,004,448 at closing against $4,734,000 in Schedule A (p. 19)+69.1%
Average closing price4 homes, on their Schedule A square feet$1,586 / SF
Closingsfirst and latest recordedSep 15, 2022 – Jul 22, 2025

Sales recorded with the Department of Finance (ACRIS) through Aug 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
3Sep 15, 2022$1,766,664$895,000 p. 19+97.4%
4Dec 21, 2022$2,400,000$1,695,000 p. 19+41.6%
2Mar 15, 2023$1,807,394$949,000 p. 19+90.5%
1Jul 22, 2025$2,030,391$1,195,000 p. 19+69.9%

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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
206 Prospect, LLC
Principals
Gamal Hasan
Tax estimate
R&M Appraisal Reports, Inc.Prepared the first-year real estate tax projection

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

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