THE CONDO BOOK PROJECT

Huntington Condominium

40 Huntington Street, Brooklyn, NY 11231

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Overview

Units
15 residential · 10 parking
Subway
10 min walk to Smith-9 Sts F GCarroll St F G, 15 min
Principals
Rusi Sanjana, Shiraz Sanjana
Average $/sf
$1,214Homes in Schedule A, as first offered
Common charges
$279–$314 a monthSponsor's first-year estimate in Schedule A, For the Period July 1, 2020 through June 30, 2021
Offering price
$20.6 million total $19.9 million when first offered

The sponsor of record is Huntington & Hicks LLC, represented by Rosen Law LLC. The offering plan runs 385 pages. The sponsor has filed 6 amendments, the latest in January 2022. The nearest other condo plan on file is 100 Luquer Street Condominium, 0.2 mi away.

Plan CD190321 · New · accepted May 8, 2020 · AG record ↗

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FigureThis building1305 23rd211 units · 1.5 miaccepted 2020719 6th312 units · 1.4 miaccepted 2019
Common ChargesPer Square Foot / Month$0.28Lowest$0.44$0.44
Average Offering PricePer Apartment$1.31MBelow peers$1.63M$1.48M
Average PricePer Square Foot$1,214In line$1,210$1,222
Property TaxesPer Square Foot / Month$0.60In line$0.44$0.83
Average Unit SizeSquare Feet1,076 SFSmaller1,343 SF1,214 SF

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Unit mix, closings, budgets, finishes and the team, against 305 23rd and 719 6th, 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 closed87% of the homes in Schedule A13 of 15
Closing prices vs. Schedule A13 homes: $12,597,885 at closing against $17,116,200 in Schedule A (p. 48, p. 49)−26.4%
Average closing price13 homes, on their Schedule A square feet$893 / SF
Closingsfirst and latest recordedJun 22, 2021 – Sep 16, 2021

Sales recorded with the Department of Finance (ACRIS) through Jun 30, 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 13 closings
HomeRecordedClosing priceSchedule ADifference
3CJun 22, 2021$1,140,440$1,507,800 p. 49−24.4%
2EJun 24, 2021$1,037,935$1,122,600 p. 49−7.5%
2AJun 25, 2021$1,074,000$1,331,400 p. 48−19.3%
3AJun 28, 2021$1,094,978$1,549,800 p. 49−29.3%
3EJun 28, 2021$911,334$1,042,200 p. 49−12.6%
2DJun 29, 2021$989,000$1,222,200 p. 49−19.1%
3BJul 1, 2021$1,050,000$1,509,000 p. 49−30.4%
3DJul 1, 2021$970,000$1,437,000 p. 49−32.5%
1AJul 15, 2021$851,000$1,331,400 p. 48−36.1%
2CJul 16, 2021$992,794$1,291,800 p. 48−23.1%
2BJul 20, 2021$1,037,938$1,294,200 p. 48−19.8%
1DAug 9, 2021$958,466$1,193,400 p. 48−19.7%
1BSep 16, 2021$490,000$1,283,400 p. 48−61.8%

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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
Huntington & Hicks LLC
Principals
Rusi Sanjana, Shiraz Sanjana
Tax estimate
Rosen Law, LLCPrepared the first-year real estate tax projection
Construction lender
Popular Bank$6.35 million recorded

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

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