56 Quincy Street Condominium
56 Quincy Street, Brooklyn, NY 11238
Overview
56 Quincy Street is a new 4-unit condo in Brooklyn.
- Offering plan: Accepted October 2024 · 290 pages · floor plans on page 96
- Finishes: Hardwood floors, granite kitchen countertops, Frigidaire appliances, washer/dryer hook-ups, Grohe bathroom fittings and split-system units for heating and cooling
- Prices: $1,647 a square foot on average, as first offered; $8.52 million in all ($7.83 million when first offered)
- Common charges: $682–$932 a month, the sponsor's first-year estimate
- Developer: A&O Development NY Corp.; principals Ran Michaeli
- Sponsor: 56 Quincy LLC, represented by Eial Girtz, PC
- Subway: 5-minute walk to Classon Av (G); 9 minutes to Bedford-Nostrand Avs (G)
- Amendments: 3, the latest in April 2026
- Units
- 4 residential
- Subway
- 5 min walk to Classon Av GBedford-Nostrand Avs G, 9 min
- Developer
- A&O Development NY Corp.
- Principals
- Ran Michaeli
- Average $/sf
- $1,647Homes in Schedule A, as first offered
- Common charges
- $682–$932 a monthSponsor's first-year estimate in Schedule A, January 1, 2025 To December 31, 2025
- Offering price
- $8.52 million total $7.83 million when first offered
- Floor plans
- Page 96 of the plan
- SubmittedNovember 2024
- AcceptedOctober 2024
- 3 amendments
- First sale
- Latest sale
Units & Prices
Sales
3 of 4homes sold (75%)
From city records (ACRIS), through Aug 31, 2026.
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.
Each home's estimate, city bills and tax breaksSee it free →Compare
| Figure | This building1 | 684 Dean25 units · 0.6 miaccepted 2025 | 118 Madison34 units · 0.3 miaccepted 2024 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $0.59In line | $0.80 | $0.57 |
| Average Offering PricePer Apartment | $2.13MIn line | $2.33M | $1.77M |
| Average PricePer Square Foot | $1,647In line | $1,690 | $1,407 |
| Average Unit SizeSquare Feet | 1,293 SFIn line | 1,378 SF | 1,261 SF |
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.
Closing Costs
The buyer pays the NYC and NY State transfer taxes, which a seller usually pays.
All 8 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 3 Apr 14, 2026
Plan extended 12 months with updates on unit sales status, rental income, real estate taxes, sponsor financing, and electrical service correction.
- Plan extended for 12 months
- Unit 3 closed; Units 1 and 4 in contract; Unit 2 unsold and rented by Sponsor at $7,500.00 monthly
- Real estate taxes for tax year July 1, 2026 through June 30, 2027: Unit 1 $17,435.12, Unit 2 $15,875.90, Unit 3 $15,875.90, Unit 4 $21,687.65
- Collection of common charges commenced August 1, 2025
- Electrical service is 200 Amps, not 300 Amps as noted in Architect's report
- Sponsor financing of $3,550,000.00 from S3 RE Funding III LLC; Unit 3 released; Units 1, 2, 4 pledged as collateral
- Working capital account $3,627.36; reserve account $2,346.64 at Chase Bank
Amendment 2 Aug 5, 2025
Amendment extends the plan for 6 months, declares it effective as of May 19, 2025, and reports on initial closings and financial status.
- Plan extended for 6 months
- Plan declared effective May 19, 2025 based on 1 unit purchase agreement (25% of 4 units)
- Declaration of Condominium recorded June 12, 2025
- Final Certificate of Occupancy issued June 27, 2025
- Unit 3 closed July 30, 2025; Units 1, 2, 4 remain unsold
- Common charges: Unit 1 $749.25, Unit 2 $682.25, Unit 4 $932.00 monthly
- Sponsor financing of $3,550,000.00 from S3 RE Funding III LLC; Unit 3 released, Units 1, 2, 4 pledged as collateral
Amendment 1 Jan 7, 2025
Amendment extends the plan 6 months, raises prices on all 4 units, adds missing storage to Unit 1, and updates floor plans and building systems.
- Plan extended 6 months
- Unit 1 price increased from $1,925,000.00 to $2,295,000.00
- Unit 2 price increased from $1,750,000.00 to $1,875,000.00
- Unit 3 price increased from $1,750,000.00 to $1,875,000.00
- Unit 4 price increased from $2,400,000.00 to $2,475,000.00
- 19 sq. ft. limited common element storage added to Unit 1
- Electric room door relocated, mailbox added to lobby, closet added under fourth floor stairs
- Estimated completion date January 30, 2025; TCO expected February 1, 2025; FCO expected March 1, 2025
- Schedule A prices increased for 1 home (median +2.0%): 1 $2,250,000 → $2,295,000
Team
- Sponsor
- 56 Quincy LLC
- Developer
- A&O Development NY Corp.
- Principals
- Ran Michaeli
- Counsel
- Eial Girtz, PC
- Tax estimate
- Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
- Construction lender
- S3 Capital$3.55 million loan stated in the plan
- General contractor
- Greenwood MonitoringHeld the general construction permit on DOB NOW job B00872781
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
- 72 Quincy Street Condominiumnext door · 5 units · 2025
- 59 Quincy Street Condominiumnext door · 5 units · 2017
- 71 Lexington Avenue Condominiumnext door · 5 units · 2006
- 25 Quincy Street Condominiumnext door · 10 units · 2021
- 93 Quincy Street Condominiumnext door · 6 units · 2020
- 179 Gates Avenue Condominiumnext door · 4 units · 2020
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