151 East 78th Street Condominium
151 East 78th Street, Manhattan, NY 10075
Overview
- Units
- 14 residential
- Subway
- 1 min walk to 77 St 686 St 4 5 6, 8 min
- Developer
- Spruce Capital Partners
- Principals
- Joshua P. Crane, Robert Schwartz
- Average $/sf
- $3,088Homes in Schedule A, as first offered
- Common charges
- $643–$9,772 a monthSponsor's first-year estimate in Schedule A, September 1, 2015 - August 31, 2016
- Offering price
- $179.1 million total
- Floor plans
- Page 4 of the plan
The sponsor of record is 78 Rpm Owner, LLC, represented by Goldfarb & Fleece LLP. The offering plan runs 501 pages. The sponsor has filed 6 amendments, the latest in February 2016. The nearest other condo plan on file is 150 East 78th Street Condominium, next door.
Plan CD130227 · New · accepted Mar 19, 2014 · AG record ↗
Compare
| Figure | This building1 | 155 East 79th27 units · 0.1 miaccepted 2014 | 221 West 77th326 units · 1.2 miaccepted 2015 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $1.29In line | $1.75 | $1.02 |
| Average Offering PricePer Apartment | $12.79MAbove peers | $12.49M | $7.62M |
| Average PricePer Square Foot | $3,088Above peers | $2,992 | $2,772 |
| Property TaxesPer Square Foot / Month | $0.80Below peers | $0.90 | $1.31 |
| Average Unit SizeSquare Feet | 4,142 SFIn line | 4,174 SF | 2,750 SF |
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Unit mix, closings, budgets, finishes and the team, against 155 East 79th and 221 West 77th, cited to the offering plans. No credit card required.
Create a free accountHow 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.
Units & Prices
Closings Pro
| Homes closed100% of the homes in Schedule A | 14 of 14 |
| Closing prices vs. Schedule A14 homes: $184,001,763 at closing against $179,050,000 in Schedule A (p. 45) | +2.8% |
| Average closing price14 homes, on their Schedule A square feet | $3,173 / SF |
| Closingsfirst and latest recorded | Feb 16, 2016 – Apr 19, 2016 |
Sales recorded with the Department of Finance (ACRIS) through Sep 30, 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 14 closings
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| 7 | Feb 16, 2016 | $11,404,400 | $10,700,000 p. 45 | +6.6% |
| 5 | Feb 17, 2016 | $10,997,100 | $10,300,000 p. 45 | +6.8% |
| 6 | Feb 17, 2016 | $10,997,100 | $10,500,000 p. 45 | +4.7% |
| 4 | Mar 3, 2016 | $10,487,975 | $10,100,000 p. 45 | +3.8% |
| 10 | Mar 3, 2016 | $12,168,088 | $11,750,000 p. 45 | +3.6% |
| 11 | Mar 8, 2016 | $12,500,000 | $12,000,000 p. 45 | +4.2% |
| 1A | Apr 1, 2016 | $1,236,300 | $1,200,000 p. 45 | +3% |
| MAIS | Apr 1, 2016 | $13,135,688 | $12,750,000 p. 45 | +3% |
| PHA | Apr 5, 2016 | $30,038,375 | $29,500,000 p. 45 | +1.8% |
| PHC | Apr 12, 2016 | $27,500,000 | $27,500,000 p. 45 | 0% |
| 3 | Apr 14, 2016 | $10,182,500 | $9,750,000 p. 45 | +4.4% |
| PHB | Apr 14, 2016 | $10,800,000 | $10,850,000 p. 45 | −0.5% |
| 8 | Apr 19, 2016 | $11,149,838 | $10,950,000 p. 45 | +1.8% |
| 9 | Apr 19, 2016 | $11,404,400 | $11,200,000 p. 45 | +1.8% |
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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
- 78 Rpm Owner, LLC
- Developer
- Spruce Capital Partners
- Principals
- Joshua P. Crane, Robert Schwartz
- Counsel
- Goldfarb & Fleece LLP
- Tax estimate
- Marcus & Pollack LLPPrepared the first-year real estate tax projection
- Construction lender
- Ar Beta$60 million loan stated in the plan
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- 150 East 78th Street Condominiumnext door · 25 units · 2020
- 155 East 79th Street Condominiumnext door · 7 units · 2014
- 177 East 77th Street Condominiumnext door · 57 units · 2004
- Diamond Condominiumnext door · 72 units · 2006
- 109 East 79next door · 33 units · 2020
- 200 East 79th Street Condominiumnext door · 45 units · 2012