88 Herbert Street Condominium (Herbert House)
88 Herbert Street, Brooklyn, NY 11222
Overview
Herbert House is a 7-unit condo in Brooklyn.
- Offering plan: Accepted May 2022 · 363 pages · floor plans on page 29
- Finishes: Hardwood floors, granite kitchen countertops, Frigidaire appliances, washer/dryer hook-ups, Grohe bathroom fittings and split-system units for heating and cooling
- Prices: $1,586 a square foot on average, as first offered; $6.42 million in all
- Common charges: $342–$944 a month, the sponsor's first-year estimate
- Sponsor: 88 Herbert Capital LLC, represented by The Law Office Of Jay Lichtman, P.C.; principals Guy Mor
- Neighborhood: Williamsburg, Brooklyn
- Subway: 10-minute walk to Graham Av (L); 13 minutes to Grand St (L)
- Amendments: 2, the latest in December 2022
- Units
- 7 residential
- Neighborhood
- Williamsburg, Brooklyn
- Subway
- 10 min walk to Graham Av LGrand St L, 13 min
- Principals
- Guy Mor
- Average $/sf
- $1,586Homes in Schedule A, as first offered
- Common charges
- $342–$944 a monthSponsor's first-year estimate in Schedule A, July 1, 2023- June 30, 2024
- Offering price
- $6.42 million total
- Floor plans
- Page 29 of the plan
- SubmittedAugust 2022
- AcceptedMay 2022
- 2 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through May 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 for 7 homes.
Each home's estimate, city bills and tax breaksSee it free →Closing Costs
The plan lists what a buyer pays at closing.
All 7 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 2 Dec 19, 2022
Amendment updates Special Risks section regarding FinCEN reporting requirements for certain residential purchases, declares the plan effective with 2 units sold (28% of residential units), and extends the plan term by 6 months.
- Special Risks section updated: title companies must file FinCEN Currency Transaction Reports for certain all-cash residential purchases of $300,000+ in NYC without bank financing
- Plan declared effective as of December 19, 2022 with 2 executed Purchase Agreements (28% of residential units)
- Plan term extended 6 months from amendment date
- First unit closing cannot occur until this amendment is accepted for filing by Department of Law
Amendment 1 Aug 2, 2022
Amendment updates offering prices for seven units, revises floor plans and storage allocations, changes Unit PH from 1 to 2 bedrooms, and extends the offering plan term by six months.
- Offering prices updated: TH $2,350,000.00, 2F $825,000.00, 2R $825,000.00, 3F $835,000.00, 3R $835,000.00, 4F $815,000.00, PH $1,495,000.00
- Unit PH changed from 1 bedroom to 2 bedrooms
- Unit PH storage decreased from 53 S.F. to 28 S.F.
- Unit 4F storage increased from 21 S.F. to 25 S.F.
- Cellar storage spaces reduced from 8 to 7 total
- TCO expected February 2023, FCO expected April 2023
- FinCEN Geographic Targeting Order requires title companies to report certain all-cash purchases of $300,000 or more by business entities
- Schedule A prices increased for 6 homes (median +22.2%): TH $1,700,000 → $2,350,000; 2F $650,000 → $825,000; 2R $675,000 → $825,000; 3F $699,000 → $835,000; ...
Team
- Sponsor
- 88 Herbert Capital LLC
- Principals
- Guy Mor
- Tax estimate
- Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
- Construction lender
- 1st Constitution Bank$2.5 million recorded
- General contractors
- HP Building Management, Greenwood MonitoringHeld the general construction permit on DOB job 321596037
- Buyer's lender
- U.S. BankThe sponsor's preferred mortgage lender; you can use another, though the mortgage contingency is offered through the sponsor's lender · Named on p. 221
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
- 90 Herbert Street Condominiumnext door · 7 units · 2025
- Metroplex Suites Condominiumnext door · 24 units · 2004
- 21 North Henry Street Condominiumnext door · 6 units · 2020
- 19 North Henry Street Condominiumnext door · 5 units · 2025
- 252-258 Richardson Street Condominiumnext door · 12 units · 2004
- Herbert Street Villasnext door · 8 units · 2020
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