THE CONDO BOOK PROJECT

Park Slope West Condominium

678 Union Street, Brooklyn, NY 11215

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Overview

Units
10 residential
Subway
3 min walk to Union St RBergen St 2 3, 11 min
Principals
Domenick Tonacchio
Average $/sf
$488Homes in Schedule A, as first offered
Common charges
$256–$323 a monthSponsor's first-year estimate in Schedule A, July 1, 2005 - June 31, 2006
Offering price
$3.37 million total

The sponsor of record is Park Slope West, LLC, represented by Forman & Associates, P.C.. The offering plan runs 283 pages. The sponsor has filed 2 amendments, the latest in December 2005. The nearest other condo plan on file is 670 Union Street Condominium, next door.

Plan CD050076 · New · accepted Oct 11, 2005 · AG record ↗

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FigureThis building135 East 4th26 units · 1.7 miaccepted 200571 Lexington35 units · 1.4 miaccepted 2006
Common ChargesPer Square Foot / Month$0.41Highest$0.25$0.33
Average Offering PricePer Apartment$336,742Lowest$411,667$474,000
Average PricePer Square Foot$488Below peers$515$501
Average Unit SizeSquare Feet690 SFSmaller800 SF946 SF

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Unit mix, closings, budgets, finishes and the team, against 35 East 4th and 71 Lexington, 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 A10 of 10
Closing prices vs. Schedule A10 homes: $3,903,393 at closing against $3,367,420 in Schedule A (p. 24)+15.9%
Average closing price10 homes, on their Schedule A square feet$566 / SF
Closingsfirst and latest recordedApr 25, 2006 – Jul 14, 2006

Sales recorded with the Department of Finance (ACRIS) through May 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 10 closings
HomeRecordedClosing priceSchedule ADifference
4AApr 25, 2006$385,320$327,250 p. 24+17.7%
5BApr 26, 2006$390,390$357,000 p. 24+9.4%
1BMay 1, 2006$390,390$344,960 p. 24+13.2%
4BMay 10, 2006$390,390$327,250 p. 24+19.3%
2AMay 12, 2006$390,390$327,250 p. 24+19.3%
3AMay 12, 2006$390,390$327,250 p. 24+19.3%
5AMay 19, 2006$390,390$357,000 p. 24+9.4%
1AMay 22, 2006$400,023$344,960 p. 24+16%
3BMay 24, 2006$385,320$327,250 p. 24+17.7%
2BJul 14, 2006$390,390$327,250 p. 24+19.3%

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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
Park Slope West, LLC
Principals
Domenick Tonacchio
Tax estimate
Moseson & AssociatesPrepared the first-year real estate tax projection

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

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