702 Hancock Street

Paul A. Castrucci, Architects filed the new building in January 2022 and the first permit issued in September 2022. The filing describes a four-story building with a penthouse and cellar, 50 feet tall, with eight dwelling units and about 9,096 square feet of construction floor area. PLUTO records 7,372 square feet on a 3,300-square-foot lot. The Department of Buildings job shows a certificate of occupancy status with a February 25, 2026 date. Sponsor deeds began a year earlier, in February 2025, so the first closings likely ran on a temporary certificate; ask what the current certificate is.

Listing records describe an airtight envelope, triple-pane windows, an energy-recovery ventilation system and rooftop solar panels. Homes have high ceilings, white oak floors, stainless-steel appliances with induction cooktops and finished primary baths, and each has deeded storage. Building features listed are a rooftop terrace, a bike room, a laundry room, video intercom and a LEED accreditation. Listing records show a 20% minimum down payment; confirm in the plan.

Per the offering plan filed with the New York State Attorney General (plan CD230213), the plan was submitted August 10, 2023 and accepted March 8, 2024, and the sponsor declared it effective December 12, 2024. The record lists 8 residential units and 702 Hancock Works LLC as sponsor, at a current total offering price of $9,150,000. The database carries no initial price in the extract used, and the Attorney General servlet returned no detail for this plan, so the amendments were not reviewed. It shows 2 units sold, which is out of date against the deeds below.

ACRIS shows deeds on the eight condominium unit lots, 1001 through 1008. Seven carry deeds:

• Unit lot 1002: $1,420,458.75, deed dated February 28, 2025
• Unit lot 1008: $1,195,000, deed dated March 4, 2025; a listing record shows apartment 4B at this price after an initial ask of $1,475,000, so it closed about 19% below first ask (our arithmetic)
• Unit lot 1003: $810,000, deed dated April 22, 2025
• Unit lot 1007: $1,165,000, deed dated July 30, 2025
• Unit lot 1001: $720,000, deed dated September 30, 2025
• Unit lot 1005: $832,528.13, deed dated October 3, 2025
• Unit lot 1006: $807,300, deed dated November 5, 2025

Unit lot 1004 shows a different filing type and no deed. The seven deeds total $6.95 million, an average of $993,000. Odd cents on two deeds are consistent with a transfer-tax gross-up. Square footage is not available for the unit lots, so no per-square-foot figures are given. Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.

Recent sales

Recent closings at this building, from The Roebling Research Library. Prices are the transfer amounts recorded with the NYC Department of Finance; apartment-level detail is checked against the building’s own file in The Roebling Research Library before publishing.

Market read. Most recent trades (2025) cleared a median $1,066/sf (floor-adjusted) across 8 sales. Floor-adjusted means each sale is restated to a constant mix of floors, so the figure can differ from the plain median of the sales listed above. Median listing discount -0.9% over ask.

Sales sourced from NYC Department of Finance recorded transfers (BBL 3-01662-7503; each condominium apartment is its own tax lot). Apartment-level facts (line, condition, asking-price context) curated and cross-verified in The Roebling Research Library. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price; square footage from recorded condo declarations and offering plans.

The plan is effective and seven of eight lots have deeds. Any home offered now is a resale or the last sponsor unit. Ask which, and ask the sponsor for the current schedule.

Passive House. Ask for the certification documents and the building's measured energy use. The standard is verified by an outside certifier, not by the listing.

Closing costs. On a sponsor unit the buyer customarily pays the New York State transfer tax (0.4%) and the New York City real property transfer tax (1.425% above $500,000), plus the state mansion tax of 1% at $1 million and above. On a $1.2 million home that is $12,000 in mansion tax and about $21,900 in transfer taxes before any gross-up (our arithmetic). Use the calculators below to run your price.

Carrying costs and abatement. The plan's budget sets common charges and projected taxes. No tax abatement has been confirmed in this review.

Sponsor control. The sponsor controls the board until enough units close to turn it over. The by-laws set the threshold.

If you're considering 702 Hancock Street, also look at these Bedford-Stuyvesant condominiums:

• 106 Jefferson Avenue — four-story, 50-foot condominium, all four residences deeded
• 174 Madison Street — four-residence walk-up built in 2023
• 253 Gates Avenue — four stories plus penthouse and cellar, plan not yet accepted
• 259 Halsey Street — four stories plus a penthouse, built 2024
• 168 Hancock Street — conversion of an 1899 building on the same street
• 103 Putnam Avenue — new building with a penthouse, built 2024