THE CONDO BOOK PROJECT

Bleecker 178 Condominium

178 Bleecker Street, Manhattan, NY 10012

Compare

Overview

Units
4 residential · 3 commercial
Subway
4 min walk to W 4 St-Wash Sq A B C D E F MHouston St 1, 6 min
Principals
John Bon-Tien Wu, Kuoliang Wei
Average $/sf
$3,482Homes in Schedule A, as first offered
Common charges
$1,256–$1,722 a monthSponsor's first-year estimate in Schedule A, For the Period from October 1, 2016- September 30, 2017
Offering price
$25.9 million total $27 million when first offered

The sponsor of record is Bleecker 8 LLC, represented by Chen Mao Kao, Attorney At Law. The offering plan runs 247 pages. The sponsor has filed 5 amendments, the latest in February 2020. The nearest other condo plan on file is 181 Sullivan Street Condominium, next door.

Plan CD150383 · New · accepted Aug 10, 2016 · AG record ↗

Compare

FigureThis building152 Wooster24 units · 0.4 miaccepted 2015347 Bowery35 units · 0.5 miaccepted 2015
Common ChargesPer Square Foot / Month$1.14In line$1.36$0.99
Average Offering PricePer Apartment$4.4MLowest$7M$9.35M
Average PricePer Square Foot$3,482Above peers$2,683$3,219
Property TaxesPer Square Foot / Month$1.75Highest$1.26$1.13
Average Unit SizeSquare Feet1,265 SFSmallest2,610 SF2,905 SF

Free Account

See the Full Comp

Unit mix, closings, budgets, finishes and the team, against 52 Wooster and 347 Bowery, cited to the offering plans. No credit card required.

Create a free account
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 A4 of 4
Closing prices vs. Schedule A4 homes: $10,054,535 at closing against $17,614,000 in Schedule A (p. 35)−42.9%
Average closing price4 homes, on their Schedule A square feet$1,987 / SF
Closingsfirst and latest recordedFeb 8, 2018 – May 28, 2020

Sales recorded with the Department of Finance (ACRIS) through Mar 31, 2021: 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 4 closings
HomeRecordedClosing priceSchedule ADifference
5FFeb 8, 2018$1,880,000$3,267,000 p. 35−42.5%
6FJul 27, 2018$3,309,313$5,750,000 p. 35−42.4%
4FOct 5, 2018$1,965,223$3,267,000 p. 35−39.8%
3FMay 28, 2020$2,900,000$5,330,000 p. 35−45.6%

Pro

Closings are for subscribers

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

Subscribe to seeAlready a member? Sign in

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
Bleecker 8 LLC
Principals
John Bon-Tien Wu, Kuoliang Wei
Tax estimate
Moseson & AssociatesPrepared the first-year real estate tax projection
Construction lender
Cathay Bank$1.74 million loan stated in the plan

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

Nearby