THE CONDO BOOK PROJECT

676 Halsey Street Condominium

676 Halsey Street, Brooklyn, NY 11233

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Overview

Units
7 residential
Subway
10 min walk to Utica Av A CRalph Av C, 12 min
Principals
Itzhak Dana
Average $/sf
$1,066Homes in Schedule A, as first offered
Common charges
$265–$455 a monthSponsor's first-year estimate in Schedule A, January 1, 2022 To December 31, 2022
Offering price
$5.22 million total $4.83 million when first offered

The sponsor of record is 676 Holding LLC, represented by Eial Girtz, PC. The offering plan runs 264 pages. The sponsor has filed 3 amendments, the latest in March 2022. The nearest other condo plan on file is 668 Halsey Street Condominium, next door.

Plan CD210051 · New · accepted Aug 5, 2021 · AG record ↗

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FigureThis building1467 Tompkins27 units · 0.9 miaccepted 2021689 Quincy38 units · 0.4 miaccepted 2021
Common ChargesPer Square Foot / Month$0.47In line$0.41$0.52
Average Offering PricePer Apartment$689,857In line$668,714$756,000
Average PricePer Square Foot$1,066Above peers$1,049$1,011
Property TaxesPer Square Foot / Month$0.73In line$0.77$0.65
Average Unit SizeSquare Feet647 SFIn line637 SF748 SF

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Unit mix, closings, budgets, finishes and the team, against 467 Tompkins and 689 Quincy, 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 A7 of 7
Closing prices vs. Schedule A6 homes: $3,762,000 at closing against $3,930,000 in Schedule A (p. 37)−4.3%
Average closing price6 homes, on their Schedule A square feet$966 / SF
Closingsfirst and latest recordedJan 18, 2022 – Mar 23, 2022

Sales recorded with the Department of Finance (ACRIS) through Oct 31, 2023: 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 7 closings
HomeRecordedClosing priceSchedule ADifference
2AJan 18, 2022$595,000$655,000 p. 37−9.2%
2BJan 24, 2022$600,000$655,000 p. 37−8.4%
1BJan 31, 2022$995,000——
3BFeb 22, 2022$649,000$655,000 p. 37−0.9%
3AFeb 23, 2022$649,000$655,000 p. 37−0.9%
4BMar 3, 2022$630,000$655,000 p. 37−3.8%
4AMar 23, 2022$639,000$655,000 p. 37−2.4%

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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
676 Holding LLC
Principals
Itzhak Dana
Tax estimate
RE Tax Service, LLCPrepared the first-year real estate tax projection
Construction lender
White Oak Projects$1.72 million loan stated in the plan

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

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