THE CONDO BOOK PROJECT

148 Attorney Street Condominium

148 Attorney Street, Manhattan, NY 10002

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Overview

Units
6 residential
Subway
7 min walk to Delancey St-Essex St F J M Z2 Av F, 8 min
Developers
Lettire Construction Corporation, Two Kings Real Estate Company
Principals
Christopher Wang, Manish Shah, Roger Pine
Average $/sf
$1,595Homes in Schedule A, as first offered
Common charges
$583–$732 a monthSponsor's first-year estimate in Schedule A, September 1, 2018 To August 31, 2019
Offering price
$13 million total $12.1 million when first offered

The sponsor of record is 148 Partners LLC, represented by Rothkrug Rothkrug & Spector, LLP. The offering plan runs 325 pages. The sponsor has filed 5 amendments, the latest in January 2020. The nearest other condo plan on file is 154 Attorney Street Condominium, next door.

Plan CD180007 · New · accepted Jun 26, 2018 · AG record ↗

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FigureThis building1253 East 7th27 units · 0.4 miaccepted 2018Idylls35 units · 0.5 miaccepted 2018
Common ChargesPer Square Foot / Month$0.52Lowest$0.80$0.87
Average Offering PricePer Apartment$2.01MBelow peers$2.23M$2.29M
Average PricePer Square Foot$1,595Below peers$1,772$1,771
Property TaxesPer Square Foot / Month$0.66Lowest$1.44$1.40
Average Unit SizeSquare Feet1,262 SFIn line1,259 SF1,293 SF

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Unit mix, closings, budgets, finishes and the team, against 253 East 7th and Idylls, cited to the offering plans. No credit card required.

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How We Got This
  • 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.

Closings Pro

Homes closed100% of the homes in Schedule A6 of 6
Closing prices vs. Schedule A5 homes: $10,470,800 at closing against $10,371,000 in Schedule A (p. 43)+1%
Average closing price5 homes, on their Schedule A square feet$1,669 / SF
Closingsfirst and latest recordedJan 8, 2020 – Oct 13, 2021

Sales recorded with the Department of Finance (ACRIS) through Feb 29, 2024: 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 6 closings
HomeRecordedClosing priceSchedule ADifference
2Jan 8, 2020$1,973,400$1,975,000 p. 43−0.1%
3Jan 8, 2020$1,998,700$1,999,000 p. 43−0%
4Jan 8, 2020$1,998,700$1,999,000 p. 43−0%
GARDNJan 8, 2020$1,846,900——
PH5Mar 6, 2020$2,050,000$2,199,000 p. 43−6.8%
PH6Oct 13, 2021$2,450,000$2,199,000 p. 43+11.4%

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Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.

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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
148 Partners LLC
Developers
Lettire Construction Corporation, Two Kings Real Estate Company
Principals
Christopher Wang, Manish Shah, Roger Pine
Tax estimate
Rothkrug & RothkrugPrepared the first-year real estate tax projection

From our research: Do NYC Developers Rehire the Same Firms?

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