25 Quincy Street Condominium
25 Quincy Street, Brooklyn, NY 11238
Overview
25 Quincy Street is a 10-unit condo in Brooklyn.
- Offering plan: Accepted April 2021 · 265 pages · floor plans on page 42
- Finishes: Engineered wood floors, stone kitchen countertops, wood cabinets and washer/dryer hook-ups
- Prices: $1,303 a square foot on average, as first offered; $11.1 million in all ($9.94 million when first offered)
- Common charges: $141–$451 a month, the sponsor's first-year estimate
- Sponsor: 25 Quincy Developers LLC, represented by Mekhtiyev Law Firm; principals Joshua Markovics
- Subway: 5-minute walk to Classon Av (G); 8 minutes to Clinton-Washington Avs (C)
- Amendments: 2, the latest in November 2022
- Units
- 10 residential
- Subway
- 5 min walk to Classon Av GClinton-Washington Avs C, 8 min
- Principals
- Joshua Markovics
- Average $/sf
- $1,303Homes in Schedule A, as first offered
- Common charges
- $141–$451 a monthSponsor's first-year estimate in Schedule A, July 1, 2021 To June 30, 2022
- Offering price
- $11.1 million total $9.94 million when first offered
- Floor plans
- Page 42 of the plan
- SubmittedNovember 2021
- AcceptedApril 2021
- 2 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Sep 30, 2024.
First-Year Budget
From our research: NYC Co-op and Condo Tax Abatement: Is It Worth Paying Prevailing Wage? (Board Calculator)
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Property Taxes
The plan's first-year tax estimate, checked against the city's real bills for 10 homes.
Each home's estimate, city bills and tax breaksSee it free →Closing Costs
The plan lists what a buyer pays at closing.
All 4 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 2 Nov 7, 2022
Amendment extends the plan by 6 months and reports that all 10 units have closed, with building operations now underway.
- Plan extended for 6 months
- All 10 units have closed; no units remain unsold
- Final Certificate of Occupancy issued February 1, 2022
- Declaration of Condominium recorded December 31, 2021
- First unit closing (Unit 3D) on March 29, 2022
- First Unit Owners meeting held May 23, 2022; board elected
- Working capital and reserve accounts opened at Chase Bank
Amendment 1 Nov 24, 2021
Plan declared effective with price increases for 9 of 10 units and revised floor plans reflecting as-built conditions.
- Plan declared effective on November 24, 2021 based on 2 unit purchase agreements (20% of 10 units)
- Unit 1A price increased from $1,499,000.00 to $1,679,475.00
- Unit 3A price increased from $1,499,000.00 to $1,748,250.00
- Unit 3B price increased from $1,475,000.00 to $1,706,250.00
- Unit 3D price increased from $1,175,000.00 to $1,359,750.00
- Unit 1B price increased from $1,450,000.00 to $1,632,750.00
- Unit 2E price increased from $699,000.00 to $765,450.00
- Unit 2D price decreased from $475,000.00 to $471,975.00
- Schedule A prices increased for 9 homes (median +12.0%): 1A $1,499,000 → $1,679,475; 1B $1,450,000 → $1,632,750; 1C $675,000 → $681,975; 2C $489,000 → $512,400; ...
- Schedule A prices decreased for 1 home (median -0.6%): 2D $475,000 → $471,975
Team
- Sponsor
- 25 Quincy Developers LLC
- Principals
- Joshua Markovics
- Counsel
- Mekhtiyev Law Firm
- Tax estimate
- MGNY ConsultingPrepared the first-year real estate tax projection
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- R6B
Today's zoning, from city data (PLUTO 26v2).
Nearby
- 10 Quincy Street Condominiumnext door · 46 units · 2022
- 179 Gates Avenue Condominiumnext door · 4 units · 2020
- 56 Quincy Street Condominiumnext door · 4 units · 2024
- 59 Quincy Street Condominiumnext door · 5 units · 2017
- 71 Lexington Avenue Condominiumnext door · 5 units · 2006
- 374 Classon Avenue Condominium0.1 mi · 7 units · 2024
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