THE CONDO BOOK PROJECT

193 Henry Street Condominium

193 Henry Street, Manhattan, NY 10022

Overview

Units
5 residential · 1 commercial
Subway
3 min walk to East Broadway FDelancey St-Essex St F J M Z, 9 min
Principals
Jeffrey F. Jacobs, Therese Oliva
Average $/sf
$1,771Homes in Schedule A, as first offered
Common charges
$1,081–$1,185 a monthSponsor's first-year estimate in Schedule A, June 1, 2018 To May 31, 2019
Offering price
$14 million total

The sponsor of record is 193 Henry Street LLC, represented by D'Agostino, Levine, Landesman & Lederman, LLP. The offering plan runs 318 pages. The sponsor has filed 8 amendments, the latest in December 2019. The nearest other condo plan on file is 201 East Broadway Condominium, next door.

Plan CD160328 · New · accepted Apr 16, 2018 · AG record ↗

Compare

FigureThis building1253 East 7th27 units · 0.9 miaccepted 2018148 Attorney36 units · 0.5 miaccepted 2018
Common ChargesPer Square Foot / Month$0.87Above peers$0.80$0.52
Average Offering PricePer Apartment$2.29MAbove peers$2.23M$2.01M
Average PricePer Square Foot$1,771In line$1,772$1,595
Property TaxesPer Square Foot / Month$1.40In line$1.44$0.66
Average Unit SizeSquare Feet1,293 SFLarger1,259 SF1,262 SF

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Unit mix, closings, budgets, finishes and the team, against 253 East 7th and 148 Attorney, 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.

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
193 Henry Street LLC
Principals
Jeffrey F. Jacobs, Therese Oliva
Tax estimate
Jerome Mazursky, MAI, CAEPrepared the first-year real estate tax projection
Construction lender
Century Henry Street Partners

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

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