THE CONDO BOOK PROJECT

670 Union Street Condominium

670 Union Street, Brooklyn, NY 11215

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Overview

Units
14 residential · 10 parking
Subway
2 min walk to Union St RBergen St 2 3, 11 min
Principals
William Caleo, Eric Liftin
Average $/sf
$1,391Homes in Schedule A, as first offered
Common charges
$95–$973 a monthSponsor's first-year estimate in Schedule A, From July 1, 2022 To June 30, 2023
Offering price
$34.3 million total $29.9 million when first offered

The sponsor of record is 668-670 Union St LLC, represented by Marcus Attorneys Pllc. The offering plan runs 346 pages. The sponsor has filed 4 amendments, the latest in March 2023. The nearest other condo plan on file is Park Slope West Condominium, next door.

Plan CD210130 · New · accepted Apr 14, 2022 · AG record ↗

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FigureThis building1One Three Six210 units · 0.8 miaccepted 2022450 Warren318 units · 0.6 miaccepted 2021
Common ChargesPer Square Foot / Month$0.39Below peers$0.57$0.44
Average Offering PricePer Apartment$2.05MIn line$1.15M$2.19M
Average PricePer Square Foot$1,391Below peers$1,392$1,453
Property TaxesPer Square Foot / Month$0.84Lowest$1.27$0.99
Average Unit SizeSquare Feet1,472 SFIn line828 SF1,505 SF

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Unit mix, closings, budgets, finishes and the team, against One Three Six and 450 Warren, 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 A14 of 14
Closing prices vs. Schedule A14 homes: $33,744,856 at closing against $28,664,000 in Schedule A (p. 46, p. 47)+17.7%
Average closing price14 homes, on their Schedule A square feet$1,638 / SF
Closingsfirst and latest recordedOct 25, 2022 – Jan 10, 2023

Sales recorded with the Department of Finance (ACRIS) through Apr 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 14 closings
HomeRecordedClosing priceSchedule ADifference
1AOct 25, 2022$590,000$450,000 p. 46+31.1%
5COct 28, 2022$3,132,163$2,625,000 p. 47+19.3%
6AOct 28, 2022$3,066,488$2,595,000 p. 47+18.2%
2ANov 2, 2022$2,947,834$2,595,000 p. 46+13.6%
5ANov 10, 2022$2,311,428$1,950,000 p. 47+18.5%
1BNov 16, 2022$661,863$499,000 p. 46+32.6%
2BNov 16, 2022$3,623,663$3,425,000 p. 46+5.8%
3ANov 17, 2022$2,173,964$1,800,000 p. 46+20.8%
3BNov 17, 2022$1,181,170$875,000 p. 46+35%
3CNov 17, 2022$3,182,681$2,495,000 p. 46+27.6%
4BNov 21, 2022$3,128,599$2,695,000 p. 46+16.1%
6BNov 21, 2022$3,516,484$2,950,000 p. 47+19.2%
4ADec 12, 2022$3,215,363$2,850,000 p. 46+12.8%
5BJan 10, 2023$1,013,159$860,000 p. 47+17.8%

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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
668-670 Union St LLC
Principals
William Caleo, Eric Liftin
Tax estimate
The Mazursky Group, Inc.Prepared the first-year real estate tax projection

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

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