778 Marcy Condominium
778 Marcy Avenue, Brooklyn, NY 11216
Overview
778 Marcy is a 6-unit condo in Brooklyn.
- Offering plan: Accepted May 2020 · 301 pages · floor plans on pages 171–175
- Finishes: Engineered wood floors, stone kitchen countertops, Electrolux and Samsung appliances, a washer and dryer in each apartment and split-system units for heating and cooling
- Prices: $993 a square foot on average, as first offered; $4.12 million in all
- Common charges: $312–$467 a month, the sponsor's first-year estimate
- Developer: Platform Development LLC; principals Hongwei Zhang and Xiaodan Wu
- Sponsor: Brooklyn 1001 LLC, represented by Hc Law & Associates, P.C.
- Subway: 8-minute walk to Bedford-Nostrand Avs (G); 12 minutes to Myrtle-Willoughby Avs (G)
- Amendments: 3, the latest in September 2022
- Units
- 6 residential
- Subway
- 8 min walk to Bedford-Nostrand Avs GMyrtle-Willoughby Avs G, 12 min
- Developer
- Platform Development LLC
- Principals
- Hongwei Zhang, Xiaodan Wu
- Average $/sf
- $993Homes in Schedule A, as first offered
- Common charges
- $312–$467 a monthSponsor's first-year estimate in Schedule A, January 1, 2021 - December 31,2021
- Offering price
- $4.12 million total
- Floor plans
- Pages 171–175 of the plan
- SubmittedMarch 2021
- AcceptedMay 2020
- 3 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Jan 31, 2026.
First-Year Budget
From our research: NYC Co-op and Condo Tax Abatement: Is It Worth Paying Prevailing Wage? (Board Calculator)
Ask Claude or ChatGPT: How do 778 Marcy's common charges compare with similar buildings? →
Property Taxes
The plan's first-year tax estimate, checked against the city's real bills for 6 homes.
Each home's estimate, city bills and tax breaksSee it free →Closing Costs
The buyer pays the NYC and NY State transfer taxes, which a seller usually pays.
All 5 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 3 Jun 4, 2022
All six residential units have closed; sponsor control ended and unit owners formed an HOA.
- First closing occurred November 23, 2021 for Unit 3B
- All six residential units closed as of May 15, 2022
- No unsold residential units remain
- Sponsor relinquished board control April 28, 2022
- Unit owners formed MarQui 778, Inc. HOA
- Working capital fund of $2,139.44 deposited in TD Bank
Amendment 2 Aug 9, 2021
Amendment adds mortgagee rights, modifies storage and roof access terms, confirms Certificate of Occupancy received May 11, 2021, and extends first closing deadline to July 05, 2023 due to COVID-19 Executive Orders.
- Certificate of Occupancy received May 11, 2021
- First closing deadline extended to July 05, 2023 (from December 31, 2021) due to COVID-19 tolling
- Mortgagees and guarantors granted rights to notice of condemnation, casualty loss, and material amendments
- Roof/outdoor recreation space now accessible to all unit owners
- Storage spaces modified for units except first floor unit
- Plan term extended
Amendment 1 Dec 23, 2020
The plan is declared effective after receipt of a purchase agreement for one residential unit exceeding 15% of the six units offered.
- Plan declared effective based on one purchase agreement representing excess of 15% of six residential units
- Unit 4A sold for $760,000.00 to John Alessio Pretto and Spencer Bergen on 12/18/2020
- Extension of plan term
Team
- Sponsor
- Brooklyn 1001 LLC
- Developer
- Platform Development LLC
- Principals
- Hongwei Zhang, Xiaodan Wu
- Counsel
- Hc Law & Associates, P.C.
- Tax estimate
- Platform Real Estate Inc.Prepared the first-year real estate tax projection
- General contractors
- Sunlight Construction Aa, H&Z Building ConsultingHeld the general construction permit on DOB job 321514562
- Structural engineer
- HPL Engineering P.C.Named on p. 33
- Property report
- Fang HuangPrepared the plan's description of the property and its condition · Named on p. 144
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
- 318 Quincy Street Condominiumnext door · 4 units · 2019
- Nostrand Avenue Condominium0.2 mi · 20 units · 2019
- 521 Greene Avenue Condominium0.2 mi · 2 units · 2017
- 399 Gates Avenue Condominium0.2 mi · 16 units · 8 parking · 2017
- 573 Gates Avenue Condominium0.2 mi · 8 units · 2020
- 358 Tompkins Avenue Condominium0.2 mi · 4 units · 2023
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