THE CONDO BOOK PROJECT

844 Quincy Street Condominium

844 Quincy Street, Brooklyn, NY 11221

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Overview

Units
7 residential
Subway
3 min walk to Gates Av J ZKosciuszko St J, 7 min
Principals
Guy Iber, Boaz Yosef Tsur, Daniel Goldberg, Shai Grinberg
Average $/sf
$1,171Homes in Schedule A, as first offered
Common charges
$325–$637 a monthSponsor's first-year estimate in Schedule A, March 1, 2019 To February 28, 2020
Offering price
$5.25 million total

The sponsor of record is 844 Quincy Partners LLC, represented by Mavrides Moyal Packman Sadkin. The offering plan runs 426 pages. The sponsor has filed 2 amendments, the latest in December 2019. The nearest other condo plan on file is 838 Quincy Street Condominium, next door.

Plan CD180211 · Rehab · accepted Feb 19, 2019 · AG record ↗

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FigureThis building11296 Park Place28 units · 1.3 miaccepted 2020573 Gates38 units · 1 miaccepted 2020
Common ChargesPer Square Foot / Month$0.65In line$0.86$0.63
Average Offering PricePer Apartment$750,364Above peers$697,490$615,250
Average PricePer Square Foot$1,171Above peers$1,029$1,016
Property TaxesPer Square Foot / Month$0.03Lowest$0.05$0.73
Average Unit SizeSquare Feet641 SFIn line678 SF606 SF

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Unit mix, closings, budgets, finishes and the team, against 1296 Park Place and 573 Gates, 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 A7 of 7
Closing prices vs. Schedule A7 homes: $4,453,195 at closing against $5,252,550 in Schedule A (p. 54)−15.2%
Average closing price7 homes, on their Schedule A square feet$993 / SF
Closingsfirst and latest recordedNov 26, 2019 – Jun 25, 2021

Sales recorded with the Department of Finance (ACRIS) through Oct 31, 2023: 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 7 closings
HomeRecordedClosing priceSchedule ADifference
3BNov 26, 2019$542,500$593,750 p. 54−8.6%
2ADec 2, 2019$595,000$605,150 p. 54−1.7%
2BDec 4, 2019$605,000$593,750 p. 54+1.9%
1ADec 6, 2019$525,000$723,900 p. 54−27.5%
3AJan 10, 2020$550,000$605,150 p. 54−9.1%
1BDec 8, 2020$760,000$1,164,700 p. 54−34.7%
4AJun 25, 2021$875,695$966,150 p. 54−9.4%

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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
844 Quincy Partners LLC
Principals
Guy Iber, Boaz Yosef Tsur, Daniel Goldberg, Shai Grinberg
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
MIOF Credit 1$1.2 million recorded

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

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