THE CONDO BOOK PROJECT

155 East 79th Street Condominium

155 East 79th Street, Manhattan, NY 10075

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Overview

Units
7 residential
Subway
3 min walk to 77 St 686 St 4 5 6, 7 min
Principals
Stephen L. Glascock
Average $/sf
$2,992Homes in Schedule A, as first offered
Common charges
$5,726–$8,529 a monthSponsor's first-year estimate in Schedule A, May 1, 2015 to April 30, 2016
Offering price
$8.45 million total $87.4 million when first offered

The sponsor of record is 155 East 79th Street, LLC, represented by Starr Associates, LLP. The offering plan runs 380 pages. The sponsor has filed 11 amendments, the latest in July 2017. The nearest other condo plan on file is 151 East 78th Street Condominium, next door.

Plan CD130246 · New · accepted Feb 28, 2014 · AG record ↗

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FigureThis building1151 East 78th214 units · 0.1 miaccepted 201427e7938 units · 0.2 miaccepted 2017
Common ChargesPer Square Foot / Month$1.75In line$1.29$2.48
Average Offering PricePer Apartment$12.49MIn line$12.79M$10.03M
Average PricePer Square Foot$2,992Below peers$3,088$3,821
Property TaxesPer Square Foot / Month$0.90In line$0.80$1.19
Average Unit SizeSquare Feet4,174 SFLarger4,142 SF2,626 SF

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Unit mix, closings, budgets, finishes and the team, against 151 East 78th and 27e79, 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 A7 of 7
Closingsfirst and latest recordedFeb 25, 2016 – Sep 8, 2017

Sales recorded with the Department of Finance (ACRIS) through May 31, 2025: 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 7 closings
HomeRecordedClosing priceSchedule ADifference
4Feb 25, 2016$12,117,175——
3Feb 26, 2016$11,200,750——
7Apr 8, 2016$16,548,813——
6Apr 12, 2016$15,428,738——
2Apr 29, 2016$10,490,225——
5Apr 10, 2017$12,577,638——
1Sep 8, 2017$8,100,000——

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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.

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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
155 East 79th Street, LLC
Principals
Stephen L. Glascock
Tax estimate
Leitner Group Inc.Prepared the first-year real estate tax projection
Construction lender
Emigrant Bank$30.6 million recorded

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

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