THE CONDO BOOK PROJECT

682 Hancock Street Condominium

682 Hancock Street, Brooklyn, NY 11233

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Overview

Units
6 residential
Subway
10 min walk to Utica Av A CGates Av J Z, 13 min
Principals
David Horowitz
Average $/sf
$1,253Homes in Schedule A, as first offered
Common charges
$258–$827 a monthSponsor's first-year estimate in Schedule A, January 1, 2022 - December 31, 2022
Offering price
$4.88 million total $3.9 million when first offered

The sponsor of record is 682 Hancock LLC, represented by Law Offices Of Hershy Itzkowitz, P.C.. The offering plan runs 296 pages. The nearest other condo plan on file is 674 Hancock Street Condominium, next door.

Plan CD210098 · Rehab · accepted Nov 8, 2021 · AG record ↗

Compare

FigureThis building1151 Weirfield26 units · 0.9 miaccepted 2021373 Palmetto38 units · 1.3 miaccepted 2021
Common ChargesPer Square Foot / Month$0.62Above peers$0.60$0.38
Average Offering PricePer Apartment$812,500Highest$604,000$672,500
Average PricePer Square Foot$1,253Highest$944$1,014
Property TaxesPer Square Foot / Month$0.36In line$0.35$0.82
Average Unit SizeSquare Feet648 SFIn line640 SF663 SF

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Unit mix, closings, budgets, finishes and the team, against 151 Weirfield and 373 Palmetto, 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 A6 of 6
Closing prices vs. Schedule A6 homes: $5,018,961 at closing against $4,875,000 in Schedule A (p. 32)+3%
Average closing price6 homes, on their Schedule A square feet$1,290 / SF
Closingsfirst and latest recordedSep 9, 2022 – Jul 14, 2023

Sales recorded with the Department of Finance (ACRIS) through Aug 31, 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 8 closings
HomeRecordedClosing priceSchedule ADifference
3BSep 9, 2022$900,000$575,000 p. 32+56.5%
2ASep 16, 2022$795,000$600,000 p. 32+32.5%
2BSep 16, 2022$845,000$600,000 p. 32+40.8%
4BSep 23, 2022$1,272,813——
1BSep 28, 2022$1,013,159——
4AJan 31, 2023$845,000$1,250,000 p. 32−32.4%
3AMay 19, 2023$855,000$600,000 p. 32+42.5%
1AJul 14, 2023$778,961$1,250,000 p. 32−37.7%

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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
682 Hancock LLC
Principals
David Horowitz
Tax estimate
Empire Consulting, IncPrepared the first-year real estate tax projection
Construction lender
Envision FundedLender on the mortgage and building loan agreement recorded July 2019 in ACRIS; $2.27 million recorded

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

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