THE CONDO BOOK PROJECT

840 Halsey Street Condominium

840 Halsey Street, Brooklyn, NY 11233

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Overview

Units
3 residential
Subway
6 min walk to Halsey St JGates Av J Z, 8 min
Principals
Ariel Grignafini
Average $/sf
$783Homes in Schedule A, as first offered
Common charges
$230–$423 a monthSponsor's first-year estimate in Schedule A, July 1, 2020 - June 30, 2021
Offering price
$2.72 million total

The sponsor of record is 840 Halsey LLC, represented by Marans, Weisz & Newman, LLC. The offering plan runs 262 pages. The sponsor has filed 2 amendments, the latest in July 2021. The nearest other condo plan on file is Halsey Lodge Condominium, next door.

Plan CD190322 · Rehab · accepted Apr 8, 2020 · AG record ↗

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FigureThis building1917 St. Marks24 units · 1.3 miaccepted 2020569 Jefferson33 units · 0.8 miaccepted 2021
Common ChargesPer Square Foot / Month$0.25Lowest$0.64$0.31
Average Offering PricePer Apartment$908,000Lowest$1.22M$1.27M
Average PricePer Square Foot$783Below peers$1,002$888
Property TaxesPer Square Foot / Month$0.26In line$0.10$0.29
Average Unit SizeSquare Feet1,160 SFSmaller1,219 SF1,432 SF

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Unit mix, closings, budgets, finishes and the team, against 917 St. Marks and 569 Jefferson, 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 A3 of 3
Closing prices vs. Schedule A3 homes: $2,535,000 at closing against $2,724,000 in Schedule A (p. 40)−6.9%
Average closing price3 homes, on their Schedule A square feet$729 / SF
Closingsfirst and latest recordedFeb 4, 2021 – Apr 9, 2021

Sales recorded with the Department of Finance (ACRIS) through Jul 31, 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 4, 2021$875,000$950,000 p. 40−7.9%
2Feb 4, 2021$785,000$875,000 p. 40−10.3%
3Apr 9, 2021$875,000$899,000 p. 40−2.7%

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Closings are for subscribers

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
840 Halsey LLC
Principals
Ariel Grignafini
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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