THE CONDO BOOK PROJECT

702 Hancock Street Condominium

702 Hancock Street, Brooklyn, NY 11233

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Overview

Units
8 residential
Subway
11 min walk to Utica Av A CGates Av J Z, 12 min
Developers
D'Amico Realty, Planet Construction & Development Corp
Principals
Grayson Jordan, Paul Castrucci, Vita D’Amico
Average $/sf
$1,295Homes in Schedule A, as first offered
Common charges
$231–$460 a monthSponsor's first-year estimate in Schedule A, July 1, 2024- June 30, 2025
Offering price
$9.15 million total

The sponsor of record is 702 Hancock Works LLC, represented by Marans Newman Tsolis & Nazinitsky LLC. The offering plan runs 318 pages. The sponsor has filed 4 amendments, the latest in August 2025. The nearest other condo plan on file is 627 Halsey Street Condominium, next door.

Plan CD230213 · New · accepted Mar 8, 2024 · AG record ↗

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FigureThis building1637 Madison28 units · 0.3 miaccepted 20241020 Hancock38 units · 0.6 miaccepted 2024
Common ChargesPer Square Foot / Month$0.37Lowest$0.51$0.59
Average Offering PricePer Apartment$1.14MHighest$720,000$780,250
Average PricePer Square Foot$1,295Above peers$1,225$1,181
Property TaxesPer Square Foot / Month$1.09Highest$0.88$0.29
Average Unit SizeSquare Feet883 SFLargest588 SF661 SF

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Unit mix, closings, budgets, finishes and the team, against 637 Madison and 1020 Hancock, 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: $7,752,541 at closing against $9,150,000 in Schedule A (p. 45)−15.3%
Average closing price8 homes, on their Schedule A square feet$1,098 / SF
Closingsfirst and latest recordedFeb 28, 2025 – Nov 5, 2025

Sales recorded with the Department of Finance (ACRIS) through May 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
1BFeb 28, 2025$1,420,459$1,600,000 p. 45−11.2%
4BMar 4, 2025$1,195,000$1,475,000 p. 45−19%
2AApr 22, 2025$810,000$950,000 p. 45−14.7%
4AJul 30, 2025$1,165,000$1,475,000 p. 45−21%
2BSep 12, 2025$802,254$950,000 p. 45−15.6%
1ASep 30, 2025$720,000$750,000 p. 45−4%
3AOct 3, 2025$832,528$975,000 p. 45−14.6%
3BNov 5, 2025$807,300$975,000 p. 45−17.2%

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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
702 Hancock Works LLC
Developers
D'Amico Realty, Planet Construction & Development Corp
Principals
Grayson Jordan, Paul Castrucci, Vita D’Amico
Tax estimate
MGNY Consulting Corp.Prepared the first-year real estate tax projection
Construction lender
Colorado Federal Savings Bank$2.1 million recorded

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

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