THE CONDO BOOK PROJECT

64 Stanhope Street Condominium

64 Stanhope Street, Brooklyn, NY 11221

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Overview

Units
8 residential
Subway
5 min walk to Central Av MKosciuszko St J, 6 min
Principals
Udi Marciano, Yaakov Scharman
Average $/sf
$931Homes in Schedule A, as first offered
Common charges
$426–$845 a monthSponsor's first-year estimate in Schedule A, September 1, 2019 - August 30, 2020
Offering price
$5.56 million total $5.5 million when first offered

The sponsor of record is 64 Stanhope LLC, represented by The Law Office Of Jay Lichtman, P.C.. The offering plan runs 351 pages. The sponsor has filed 2 amendments, the latest in August 2019. The nearest other condo plan on file is 53 Stanhope Street Condominium, next door.

Plan CD180417 · New · accepted Jun 7, 2019 · AG record ↗

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FigureThis building1838 Quincy27 units · 0.5 miaccepted 201918 Van Buren37 units · 1.1 miaccepted 2019
Common ChargesPer Square Foot / Month$0.75Above peers$0.59$0.67
Average Offering PricePer Apartment$687,750Above peers$640,429$603,571
Average PricePer Square Foot$931In line$954$884
Property TaxesPer Square Foot / Month$0.11Lowest$0.16$0.14
Average Unit SizeSquare Feet739 SFLarger672 SF683 SF

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Unit mix, closings, budgets, finishes and the team, against 838 Quincy and 18 Van Buren, 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 A8 of 8
Closing prices vs. Schedule A8 homes: $5,414,500 at closing against $5,502,000 in Schedule A (p. 35)−1.6%
Average closing price8 homes, on their Schedule A square feet$916 / SF
Closingsfirst and latest recordedFeb 7, 2020 – Mar 11, 2020

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 8 closings
HomeRecordedClosing priceSchedule ADifference
3AFeb 7, 2020$625,000$569,000 p. 35+9.8%
3BFeb 10, 2020$550,000$639,000 p. 35−13.9%
5Feb 11, 2020$974,000$1,029,000 p. 35−5.3%
4AFeb 18, 2020$637,500$569,000 p. 35+12%
2BFeb 19, 2020$559,000$639,000 p. 35−12.5%
4BFeb 19, 2020$575,000$649,000 p. 35−11.4%
2AFeb 26, 2020$619,000$559,000 p. 35+10.7%
1Mar 11, 2020$875,000$849,000 p. 35+3.1%

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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
64 Stanhope LLC
Principals
Udi Marciano, Yaakov Scharman
Tax estimate
Law Offices of Farhid Sedaghat-Pour, Esq., PLLCPrepared the first-year real estate tax projection
Construction lender
1st Constitution Bank$4.62 million recorded

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

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