THE CONDO BOOK PROJECT

228 Quincy Street Condominium

228 Quincy Street, Brooklyn, NY 11216

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Overview

Units
6 residential
Subway
6 min walk to Bedford-Nostrand Avs GNostrand Av A C, 10 min
Principals
Eitan Binet
Average $/sf
$1,234Homes in Schedule A, as first offered
Common charges
$197–$445 a monthSponsor's first-year estimate in Schedule A, January 1, 2021 To December 31, 2021
Offering price
$4.16 million total $4.14 million when first offered

The sponsor of record is Bsd Quincy LLC, represented by Eial Girtz, PC. The offering plan runs 287 pages. The sponsor has filed 3 amendments, the latest in June 2022. The nearest other condo plan on file is 209 Quincy Street Condominium, next door.

Plan CD200072 · Rehab · accepted Jul 28, 2020 · AG record ↗

Compare

FigureThis building1127 Putnam26 units · 0.3 miaccepted 2020Steuben & Park36 units · 0.9 miaccepted 2020
Common ChargesPer Square Foot / Month$0.54Above peers$0.33$0.50
Average Offering PricePer Apartment$690,833Lowest$988,333$856,500
Average PricePer Square Foot$1,234Above peers$1,213$1,195
Property TaxesPer Square Foot / Month$0.58In line$0.18$0.59
Average Unit SizeSquare Feet560 SFSmallest815 SF717 SF

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Unit mix, closings, budgets, finishes and the team, against 127 Putnam and Steuben & Park, 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 A6 of 6
Closing prices vs. Schedule A6 homes: $3,585,777 at closing against $4,145,000 in Schedule A (p. 36)−13.5%
Average closing price6 homes, on their Schedule A square feet$1,068 / SF
Closingsfirst and latest recordedMar 8, 2022 – Jun 2, 2022

Sales recorded with the Department of Finance (ACRIS) through Dec 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 6 closings
HomeRecordedClosing priceSchedule ADifference
2AMar 8, 2022$529,000$649,000 p. 36−18.5%
3BMar 8, 2022$907,203$1,099,000 p. 36−17.5%
1BMar 10, 2022$660,555$649,000 p. 36+1.8%
2BMar 14, 2022$535,000$649,000 p. 36−17.6%
1AMar 21, 2022$399,000$450,000 p. 36−11.3%
3AJun 2, 2022$555,019$649,000 p. 36−14.5%

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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
Bsd Quincy LLC
Principals
Eitan Binet
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Golden Bridge$1.95 million loan stated in the plan

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

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