THE CONDO BOOK PROJECT

200 East 79th Street Condominium

200 East 79th Street, Manhattan, NY 10075

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Overview

Units
45 residential · 44 storage · 1 commercial
Subway
4 min walk to 77 St 686 St Q, 8 min
Developer
Garden Homes Development
Principals
Leonard Wilf, Mark Wilf, Orin Wilf, Zygmunt Wilf
Average $/sf
$1,830Homes in Schedule A, as first offered
Offering price
$204.5 million total

The sponsor of record is 200 East 79th Street LLC, represented by Stroock & Stroock & Lavan LLP. The offering plan runs 646 pages. The sponsor has filed 1 amendment, the latest in August 2012. The nearest other condo plan on file is 177 East 77th Street Condominium, next door.

Plan CD120057 · New · accepted Aug 17, 2012 · AG record ↗

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FigureThis building1Sorting House230 units · 1.7 miaccepted 2015180 East 88th348 units · 0.5 miaccepted 2015
Common ChargesPer Square Foot / Month$1.36 ⚠In line$1.36$1.52
Average Offering PricePer Apartment$4.54MIn line$1.93M$6.38M
Average PricePer Square Foot$1,830In line$1,707$3,021
Average Unit SizeSquare Feet2,482 SFLargest1,133 SF2,113 SF

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Unit mix, closings, budgets, finishes and the team, against Sorting House and 180 East 88th, 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.

⚠ Read from a partly legible Schedule B.

Closings Pro

Homes closed100% of the homes in Schedule A45 of 45
Closing prices vs. Schedule A43 homes: $195,360,706 at closing against $177,474,800 in Schedule A (p. 105)+10.1%
Average closing price43 homes, on their Schedule A square feet$1,921 / SF
Closingsfirst and latest recordedAug 29, 2013 – Sep 4, 2014

Sales recorded with the Department of Finance (ACRIS) through Jun 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 45 closings
HomeRecordedClosing priceSchedule ADifference
2 FAug 29, 2013$1,501,715$1,474,800 p. 105+1.8%
4 AOct 15, 2013$2,907,104$2,855,000 p. 105+1.8%
4 COct 18, 2013$3,329,678$3,070,000 p. 105+8.5%
6 AOct 23, 2013$3,426,411$2,995,000 p. 105+14.4%
5 AOct 24, 2013$3,253,309$2,925,000 p. 105+11.2%
7 COct 28, 2013$4,067,909$3,295,000 p. 105+23.5%
6 COct 29, 2013$3,482,415$3,220,000 p. 105+8.1%
7 AOct 29, 2013$3,803,164$3,065,000 p. 105+24.1%
5 COct 31, 2013$3,202,396$3,145,000 p. 105+1.8%
9 CNov 15, 2013$4,475,209$3,510,000 p. 105+27.5%
11 ANov 15, 2013$7,484,138$7,145,000 p. 105+4.7%
8 ANov 19, 2013$3,192,214$3,135,000 p. 105+1.8%
10 ANov 20, 2013$7,891,438$6,995,000 p. 105+12.8%
8 CNov 21, 2013$3,431,503$3,370,000 p. 105+1.8%
9 ANov 21, 2013$4,302,106$3,265,000 p. 105+31.8%
12 ANov 26, 2013$8,904,596$7,295,000 p. 105+22.1%
14 ADec 5, 2013$7,687,788$7,445,000 p. 105+3.3%
3 CDec 20, 2013$3,049,659$2,995,000 p. 105+1.8%
3 ADec 23, 2013$2,907,104$2,785,000 p. 105+4.4%
15 AJan 10, 2014$7,916,894$7,720,000 p. 105+2.6%
3 BJan 31, 2014$4,067,909$3,895,000 p. 105+4.4%
4 BFeb 14, 2014$4,271,559$3,995,000 p. 105+6.9%
2 BFeb 20, 2014$576,940$560,000 p. 105+3%
5 BFeb 20, 2014$4,678,859$4,095,000 p. 105+14.3%
6 BFeb 20, 2014$4,321,899$4,195,000 p. 105+3%
7 BFeb 27, 2014$4,882,509$4,295,000 p. 105+13.7%
8 BMar 14, 2014$4,475,209$4,395,000 p. 105+1.8%
9 BMar 17, 2014$5,697,109$4,575,000 p. 105+24.5%
11 BMar 20, 2014$5,238,896$4,765,000 p. 105+9.9%
10 BMar 25, 2014$4,857,053$4,665,000 p. 105+4.1%
14 BApr 4, 2014$5,798,934$4,965,000 p. 105+16.8%
15 BApr 8, 2014$5,009,790$5,145,000 p. 105−2.6%
2 AApr 29, 2014$674,814$655,000 p. 105+3%
12 BApr 29, 2014$6,680,656$4,865,000 p. 105+37.3%
20Jul 3, 2014$14,764,625——
17 AJul 8, 2014$7,122,659$6,795,000 p. 105+4.8%
2 DJul 23, 2014$576,940$560,000 p. 105+3%
17 BJul 23, 2014$5,558,199$5,350,000 p. 105+3.9%
19Jul 29, 2014$13,746,375——
2 CAug 25, 2014$618,150$555,000 p. 105+11.4%
18 AAug 25, 2014$7,618,699$6,650,000 p. 105+14.6%
18 BAug 25, 2014$5,829,481$4,995,000 p. 105+16.7%
16 ASep 2, 2014$8,247,825$7,995,000 p. 105+3.2%
2 ESep 4, 2014$618,150$555,000 p. 105+11.4%
16 BSep 4, 2014$7,721,724$7,250,000 p. 105+6.5%

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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
200 East 79th Street LLC
Developer
Garden Homes Development
Principals
Leonard Wilf, Mark Wilf, Orin Wilf, Zygmunt Wilf
Tax estimate
Stroock & Stroock & Lavan LLPPrepared the first-year real estate tax projection
Construction lender
Wells Fargo BankLender on the mortgage and building loan agreement recorded August 2011 in ACRIS; $92 million recorded

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

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