THE CONDO BOOK PROJECT

199-201 Chrystie Street Condominium

199-201 Chrystie Street, Manhattan, NY 10002

Overview

Units
14 residential · 1 commercial
Subway
3 min walk to 2 Av FBowery J Z, 4 min
Developers
Emursive LLC, Sagamore Capital LLC
Average $/sf
$3,028Homes in Schedule A, as first offered
Offering price
$102.5 million total $96 million when first offered

The sponsor of record is Sagamore Ak Property Company LLC, represented by Certilman Balin Adler & Hyman, LLP. The offering plan runs 475 pages. The sponsor has filed 8 amendments, the latest in November 2022. The nearest other condo plan on file is Freeman Residences At The Freeman Condominium, next door.

Plan CD190039 · New · accepted Aug 21, 2019 · AG record ↗

Compare

FigureThis building1601 Washington210 units · 1 miaccepted 2019100 Franklin310 units · 0.7 miaccepted 2019
Common ChargesPer Square Foot / Month$1.88Highest$0.72$1.37
Average Offering PricePer Apartment$6.77MIn line$14.82M$4.75M
Average PricePer Square Foot$3,028In line$3,197$2,349
Average Unit SizeSquare Feet2,236 SFIn line4,637 SF2,021 SF

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Unit mix, closings, budgets, finishes and the team, against 601 Washington and 100 Franklin, 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 A14 of 14
Closing prices vs. Schedule A14 homes: $60,696,588 at closing against $94,770,000 in Schedule A (p. 45)−36%
Average closing price14 homes, on their Schedule A square feet$1,939 / SF
Closingsfirst and latest recordedMar 30, 2022 – May 14, 2025

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 28 closings
HomeRecordedClosing priceSchedule ADifference
10NMar 30, 2022$3,521,588$3,950,000 p. 45−10.8%
SU6Mar 30, 2022$3,521,588——
5SApr 4, 2022$5,350,000$6,095,000 p. 45−12.2%
SU3Apr 4, 2022$5,350,000——
2SApr 12, 2022$2,050,000$2,250,000 p. 45−8.9%
SU2Apr 12, 2022$2,050,000——
2NApr 13, 2022$2,050,000$2,250,000 p. 45−8.9%
SU14Apr 13, 2022$2,050,000——
3SApr 22, 2022$3,200,000$3,250,000 p. 45−1.5%
SU8Apr 22, 2022$3,200,000——
7SJul 13, 2023$4,800,000$6,295,000 p. 45−23.7%
SU7Jul 13, 2023$4,800,000——
4SJul 17, 2023$2,500,000$3,000,000 p. 45−16.7%
SU4Jul 17, 2023$2,500,000——
8NAug 31, 2023$4,875,000$6,395,000 p. 45−23.8%
SU5Aug 31, 2023$4,875,000——
3NFeb 8, 2024$2,950,000$3,750,000 p. 45−21.3%
SU1Feb 8, 2024$2,950,000——
6NFeb 16, 2024$4,500,000$6,195,000 p. 45−27.4%
SU10Feb 16, 2024$4,500,000——
9SJun 14, 2024$4,400,000$6,495,000 p. 45−32.3%
SU11Jun 14, 2024$4,400,000——
PH2Jul 10, 2024$9,000,000$20,500,000 p. 45−56.1%
SU13Jul 10, 2024$9,000,000——
4NOct 24, 2024$3,750,000$5,995,000 p. 45−37.4%
SU9Oct 24, 2024$3,750,000——
PH1May 14, 2025$7,750,000$18,350,000 p. 45−57.8%
SU12May 14, 2025$7,750,000——

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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
Sagamore Ak Property Company LLC
Developers
Emursive LLC, Sagamore Capital LLC
Tax estimate
Tuchman, Korngold, Weiss Liebman & LindemannPrepared the first-year real estate tax projection
Construction lender
Bank OZK$32.3 million recorded

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

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