THE CONDO BOOK PROJECT

95 Quincy Street Condominium

95 Quincy Street, Brooklyn, NY 11238

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Overview

Units
6 residential
Subway
6 min walk to Classon Av GBedford-Nostrand Avs G, 7 min
Principals
Omri Bar-Mashiah
Average $/sf
$1,319Homes in Schedule A, as first offered
Offering price
$5.08 million total $3.35 million when first offered

The sponsor of record is 95 Quincy LLC, represented by Tsyngauz & Associates, P.C.. The offering plan runs 314 pages. The sponsor has filed 2 amendments, the latest in April 2022. The nearest other condo plan on file is 97 Quincy Street Condominium, next door.

Plan CD210241 · New · accepted Mar 16, 2022 · AG record ↗

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FigureThis building1215 Putnam26 units · 0.3 miaccepted 2022Residence At 73537 units · 0.8 miaccepted 2021
Common ChargesPer Square Foot / Month$0.39Lowest$0.47$0.63
Average Offering PricePer Apartment$816,667In line$895,667$738,429
Average PricePer Square Foot$1,319Above peers$1,186$1,170
Average Unit SizeSquare Feet619 SFSmaller755 SF631 SF

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Unit mix, closings, budgets, finishes and the team, against 215 Putnam and Residence At 735, 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: $5,098,839 at closing against $4,900,000 in Schedule A (p. 43)+4.1%
Average closing price6 homes, on their Schedule A square feet$1,373 / SF
Closingsfirst and latest recordedJul 25, 2022 – Sep 6, 2022

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 6 closings
HomeRecordedClosing priceSchedule ADifference
4FJul 25, 2022$646,589$630,000 p. 43+2.6%
3RJul 26, 2022$600,768$565,000 p. 43+6.3%
3FAug 10, 2022$633,906$620,000 p. 43+2.2%
1Aug 11, 2022$1,400,000$1,360,000 p. 43+2.9%
2Aug 18, 2022$1,247,356$1,160,000 p. 43+7.5%
4RSep 6, 2022$570,220$565,000 p. 43+0.9%

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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
95 Quincy LLC
Principals
Omri Bar-Mashiah
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Quanta Finance$2.25 million loan stated in the plan

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

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