101 West 78th Street Condominium
101 West 78th Street, Manhattan, NY 10024
Overview
- Units
- 28 residential · 18 storage · 1 commercial
- Subway
- 5 min walk to 81 St-Museum of Natural History B C79 St 1, 6 min
- Developers
- Allied Partners, GTIS Partners LP, GTIS, The Athena Group, L.L.C., Tisbman Speyer
- Principals
- Robert Vahradian, Thomas M. Shapiro
- Average $/sf
- $2,412Homes in Schedule A, as first offered
- Common charges
- $1,016–$9,354 a monthSponsor's first-year estimate in Schedule A, 1/1/17-12/31/17
- Offering price
- $164 million total $85.2 million when first offered
- Floor plans
- Page 42 of the plan
The sponsor of record is 101 West 78th, LLC, represented by Starr Associates LLP. The offering plan runs 670 pages. The sponsor has filed 15 amendments, the latest in December 2021. The nearest other condo plan on file is 100 West 80th Street Condominium, next door.
Plan CD130137 · Conversion · accepted Feb 9, 2016 · AG record ↗
Compare
| Figure | This building1 | 221 West 77th226 units · 0.2 miaccepted 2015 | 180 East 88th348 units · 1.2 miaccepted 2015 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $1.70Above peers | $1.02 | $1.52 |
| Average Offering PricePer Apartment | $4.44MLowest | $7.62M | $6.38M |
| Average PricePer Square Foot | $2,412Below peers | $2,772 | $3,021 |
| Property TaxesPer Square Foot / Month | $1.21Below peers | $1.31 | $1.67 |
| Average Unit SizeSquare Feet | 1,843 SFSmaller | 2,750 SF | 2,113 SF |
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Unit mix, closings, budgets, finishes and the team, against 221 West 77th and 180 East 88th, cited to the offering plans. No credit card required.
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- Comps: the closest Manhattan 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.
Units & Prices
Closings Pro
| Homes closed82% of the homes in Schedule A | 23 of 28 |
| Closing prices vs. Schedule A18 homes: $114,059,045 at closing against $96,059,000 in Schedule A (p. 59) | +18.7% |
| Average closing price18 homes, on their Schedule A square feet | $2,957 / SF |
| Closingsfirst and latest recorded | Jan 31, 2018 – Sep 15, 2022 |
Sales recorded with the Department of Finance (ACRIS) through Jul 31, 2026: deeds, or transfer tax filings for a building on leased land, of $10,000 or more. A home's first sale since the plan was filed is the sponsor's closing; resales aren't counted. Closing prices are compared with the same home's Schedule A price, as first offered; a deed covering more than one home isn't compared. Amendments often change prices before a home closes, and a deed that includes parking or storage counts its full price. ACRIS records a sale weeks after closing, so recent contracts don't appear yet. Every building's sales.
All 23 closings
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| 8C | Jan 31, 2018 | $1,627,359 | $2,301,000 p. 59 | −29.3% |
| 5B | Feb 1, 2018 | $10,200,000 | $8,590,000 p. 59 | +18.7% |
| 6A | Feb 7, 2018 | $7,995,000 | $3,690,000 p. 59 | +116.7% |
| 6B | Feb 7, 2018 | $966,000 | $1,163,000 p. 59 | −16.9% |
| 6D | Feb 7, 2018 | $681,000 | $1,679,000 p. 59 | −59.4% |
| 7A | Feb 7, 2018 | $4,595,000 | $4,050,000 p. 59 | +13.5% |
| 7E | Feb 7, 2018 | $1,229,000 | $1,713,000 p. 59 | −28.3% |
| 7D | Feb 8, 2018 | $629,474 | $3,850,000 p. 59 | −83.7% |
| Penthouse | Apr 18, 2018 | $20,520,988 | $18,500,000 p. 59 | +10.9% |
| 3A | Jun 18, 2018 | $10,500,000 | $2,531,000 p. 59 | +314.9% |
| 5A | Jun 27, 2018 | $11,858,188 | $5,950,000 p. 59 | +99.3% |
| 8A | Jan 22, 2019 | $9,200,000 | $3,022,000 p. 59 | +204.4% |
| 3B | Apr 9, 2019 | $5,149,788 | $10,290,000 p. 59 | −50% |
| 8B | Apr 16, 2019 | $2,300,000 | $1,550,000 p. 59 | +48.4% |
| 4A | May 6, 2019 | $10,898,550 | $2,590,000 p. 59 | +320.8% |
| 6C | Jun 26, 2019 | $7,975,338 | $8,150,000 p. 59 | −2.1% |
| 3C | Oct 17, 2019 | $1,683,363 | $5,650,000 p. 59 | −70.2% |
| 4B | Jul 22, 2020 | $6,050,000 | $10,790,000 p. 59 | −43.9% |
| 18S | Apr 13, 2022 | $470,000 | — | — |
| 7B | Sep 14, 2022 | $1,050,000one deed, 2 homes | $1,071,000 p. 59 | — |
| 7C | Sep 14, 2022 | $1,050,000one deed, 2 homes | $2,174,000 p. 59 | — |
| 8D | Sep 14, 2022 | $1,050,000one deed, 2 homes | — | — |
| CU | Sep 15, 2022 | $8,950,000 | — | — |
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Closings are for subscribers
Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.
Budget
From our research: The Sponsor's Condo-Creation Fee in NYC · NYC Condo Insurance Costs Are Rising · Condo Supplies Cost per Unit, by Size
Team
- Sponsor
- 101 West 78th, LLC
- Developers
- Allied Partners, GTIS Partners LP, GTIS, The Athena Group, L.L.C., Tisbman Speyer
- Principals
- Robert Vahradian, Thomas M. Shapiro
- Counsel
- Starr Associates LLP
- Tax estimate
- Podell, Schwartz, Schechter & Banfield, LLPPrepared the first-year real estate tax projection
- Construction lender
- W78 Mtgl9$50 million loan stated in the plan
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- 100 West 80th Street Condominiumnext door · 26 units · 2014
- Chloe Condominium0.1 mi · 10 units · 2011
- 150 West 77th Street Condominium0.1 mi · 4 units · 2014
- 163 West 79th Street Condominium0.1 mi · 9 units · 2005
- Hopkins Condominium0.1 mi · 98 units · 2004
- 140 West 81st Street Condominium0.1 mi · 6 units · 2022