THE CONDO BOOK PROJECT

755 Hart Street Condominium

755 Hart Street, Brooklyn, NY 11237

Overview

Units
3 residential
Subway
5 min walk to Central Av MKnickerbocker Av M, 8 min
Principals
Yuval Berger
Offering price
$4.13 million total $3.87 million when first offered

The sponsor of record is Hart 755 LLC, represented by Smith, Buss & Jacobs, LLP. The offering plan runs 254 pages. The sponsor has filed 2 amendments, the latest in November 2017. The nearest other condo plan on file is 764 Hart Street Condominium, next door.

Plan CD160408 · New · accepted Jun 16, 2017 · AG record ↗

Compare

FigureThis building1368 Gates24 units · 1.8 miaccepted 2016290 Powers34 units · 1.2 miaccepted 2017
Average Offering PricePer Apartment$1.29MAbove peers$1.17M$1.02M

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Unit mix, closings, budgets, finishes and the team, against 368 Gates and 290 Powers, 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 the plan3 of 3
Closingsfirst and latest recordedFeb 20, 2018 – Mar 15, 2018

Sales recorded with the Department of Finance (ACRIS) through Apr 30, 2022: 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 3 closings
HomeRecordedClosing priceSchedule ADifference
1Feb 20, 2018$1,256,361——
3Feb 20, 2018$1,483,414——
2Mar 15, 2018$1,407,729——

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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
Hart 755 LLC
Principals
Yuval Berger
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection

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

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