686 Macdonough Street Condominium
686 Macdonough Street, Brooklyn, NY 11233
Overview
686 Macdonough Street is a 6-unit condo in Brooklyn.
- Offering plan: Accepted July 2017 · 295 pages · floor plans on page 25
- Finishes: Hardwood floors and ducted heat pumps for heating and cooling
- Prices: $793 a square foot on average, as first offered; $2.88 million in all ($3.3 million when first offered)
- Common charges: $319–$848 a month, the sponsor's first-year estimate
- Developer: Brookland Capital; principals Boaz Gilad
- Sponsor: Gil Holdings LLC, represented by Jeffrey Zwick & Associates, P.C.
- Neighborhood: Bedford-Stuyvesant, Brooklyn
- Subway: 6-minute walk to Halsey St (J); 9 minutes to Chauncey St (J, Z)
- Amendments: 6, the latest in December 2018
- Units
- 6 residential
- Neighborhood
- Bedford-Stuyvesant, Brooklyn
- Subway
- 6 min walk to Halsey St JChauncey St J Z, 9 min
- Developer
- Brookland Capital
- Principals
- Boaz Gilad
- Average $/sf
- $793Homes in Schedule A, as first offered
- Common charges
- $319–$848 a monthSponsor's first-year estimate in Schedule A, December 1, 2017
- Offering price
- $2.88 million total $3.3 million when first offered
- Floor plans
- Page 25 of the plan
- SubmittedOctober 2017
- AcceptedJuly 2017
- 6 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Feb 28, 2025.
First-Year Budget
From our research: NYC Co-op and Condo Tax Abatement: Is It Worth Paying Prevailing Wage? (Board Calculator)
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 →Closing Costs
The plan lists what a buyer pays at closing.
All 5 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 6 Dec 5, 2018
Sixth amendment confirms all units sold, sponsor relinquished board control, adopts smoking policy, and provides post-closing documentation.
- Sponsor has sold all units in the building
- Sponsor relinquished board control on November 20, 2018
- Smoking prohibited in indoor common areas; permitted in units and outdoor areas including courtyards, rooftops, balconies and terraces
- First unit closed August 30, 2018
- Current temporary certificate of occupancy number 320914258T002 expires February 5, 2019
- Declaration of Condominium recorded August 24, 2018 under CRFN# 2018000285513
- Working capital fund of $1,563.85 and reserve fund of $173.76 deposited at Signature Bank
Amendment 5 May 3, 2018
Plan declared effective as of December 7, 2017 with three executed purchase agreements; roof deck finish material specified; tax law warning added; Department of Law address updated.
- Plan declared effective December 7, 2017 with 3 units (50% of units) under purchase agreement
- Roof deck for unit 4 to be finished with Roofblok Paver Systems architectural pavers in grey concrete or equal quality
- Tax Cuts and Jobs Act of 2018 warning: tax information in plan may be inaccurate; buyers advised to consult tax expert
- New York State Department of Law Real Estate Finance Bureau address: 28 Liberty Street, New York, New York 10005
Amendment 4 Mar 30, 2018
Part of the 4th floor roof allocated as limited common element to Unit 4, common interest percentages revised for all units, and rescission rights granted to units under contract.
- 4th floor roof terrace (235 SF) allocated as limited common element to Unit 4
- Roof sold as finished without pavers or decking; purchaser responsible for additional covering
- Common interest percentages revised; all units except Unit 4 have lowered percentages
- Units 2A, 2B, 3A, and 3B granted right to rescind within 15 days; deposits refunded within 10 days if exercised
- Rescission waiver available for execution before 15-day period expires
- Schedule A prices decreased for 6 homes (median -13.1%): 1 $849,000 → $690,000; 2A $449,000 → $390,000; 2B $475,000 → $424,000; 3A $465,000 → $400,000; ...
Amendment 3 Dec 12, 2017
Price of unit 2B adjusted to $424,000.00
Amendment 2 Nov 21, 2017
Price of unit 2B adjusted to $415,000.00
Amendment 1 Oct 25, 2017
Offering prices for six units are updated.
- Unit 1: $699,000.00
- Unit 2A: $390,000.00
- Unit 2B: $410,000.00
- Unit 3A: $400,000.00
- Unit 3B: $420,000.00
- Unit 4: $550,000.00
Team
- Sponsor
- Gil Holdings LLC
- Developer
- Brookland Capital
- Principals
- Boaz Gilad
- Tax estimate
- Metropolitan Realty ExemptionsPrepared the first-year real estate tax projection
- Construction lender
- Bcre Real Estate Funding$1 million recorded
- General contractors
- Dvir Mog 18, Dawny Construction, A B Design BuildHeld the general construction permit on DOB job 320914258
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
- Macon On The Park Condominium Iinext door · 7 units · 2024
- Macon On The Park Condominium Inext door · 7 units · 2024
- 473 Bainbridge Street Condominiumnext door · 6 units · 2022
- 840 Halsey Street Condominium0.1 mi · 3 units · 2020
- Chauncey0.2 mi · 13 units · 2020
- Bainbridge Effect Condominium0.2 mi · 4 units · 2026
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