THE CONDO BOOK PROJECT

27e79 Condominium

27 East 79th Street, Manhattan, NY 10075

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Overview

Units
8 residential · 8 storage
Subway
6 min walk to 77 St 686 St 4 5 6, 11 min
Principals
Matthew Adell
Average $/sf
$3,821Homes in Schedule A, as first offered
Common charges
$3,640–$11,166 a monthSponsor's first-year estimate in Schedule A, December 1, 2018-November 30, 2019
Offering price
$88.5 million total

The sponsor of record is 27e79 Property LLC, represented by Starr Associates, LLP. The offering plan runs 434 pages. The sponsor has filed 20 amendments, the latest in January 2025. The nearest other condo plan on file is 1045 Madison Condominium, next door.

Plan CD170044 · New · accepted Jun 26, 2017 · AG record ↗

Compare

FigureThis building1318 East 81st26 units · 0.5 miaccepted 2017132-134 West 83rd36 units · 0.9 miaccepted 2018
Common ChargesPer Square Foot / Month$2.48Highest$0.89$0.46
Average Offering PricePer Apartment$10.03MHighest$4.05M$4.83M
Average PricePer Square Foot$3,821Highest$1,957$2,132
Property TaxesPer Square Foot / Month$1.19Below peers$1.31$1.67
Average Unit SizeSquare Feet2,626 SFLargest2,069 SF2,265 SF

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Unit mix, closings, budgets, finishes and the team, against 318 East 81st and 132-134 West 83rd, 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 A8 of 8
Closing prices vs. Schedule A1 home: $17,763,800 at closing against $19,000,000 in Schedule A (p. 47)−6.5%
Average closing price1 home, on their Schedule A square feet$4,094 / SF
Closingsfirst and latest recordedOct 29, 2020 – Jun 5, 2025

Sales recorded with the Department of Finance (ACRIS) through Jun 30, 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 8 closings
HomeRecordedClosing priceSchedule ADifference
SIM6Oct 29, 2020$5,552,938——
SIM5Nov 25, 2020$5,298,000——
THApr 8, 2021$16,804,681——
DUP9Aug 17, 2021$12,455,900——
DUP7Mar 15, 2022$8,700,000——
COMMar 28, 2022$2,646,593——
PenthouseApr 27, 2022$17,763,800$19,000,000 p. 47−6.5%
DUP11Jun 5, 2025$7,000,000——

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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
27e79 Property LLC
Principals
Matthew Adell
Tax estimate
Podell, Schwartz, Schechter & Banfield LLPPrepared the first-year real estate tax projection
Construction lender
Centennial BankLender on the mortgage and building loan agreement recorded December 2016 in ACRIS; $23 million recorded

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

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