287 East Houston Condominium
287 East Houston Street, Manhattan, NY 10002
Overview
- Units
- 28 residential · 22 storage
- Subway
- 6 min walk to 2 Av FDelancey St-Essex St F J M Z, 7 min
- Developer
- Vinci US Real Estate Sub-Fund I, L.P.
- Principals
- Andres Hogg, Jose Antonio Tornaghi Grabowsky
- Average $/sf
- $2,090Homes in Schedule A, as first offered
- Common charges
- $996–$3,574 a monthSponsor's first-year estimate in Schedule A, February 1, 2018 through January 31, 2019
- Offering price
- $53.5 million total
- Floor plans
- Page 36 of the plan
The sponsor of record is 287 Les Jv LLC, represented by Ganfer Shore Leeds & Zauderer, LLP. The offering plan runs 427 pages. The sponsor has filed 15 amendments, the latest in January 2023. The nearest other condo plan on file is 14 Clinton Street Condominium, next door.
Plan CD150389 · New · accepted Aug 4, 2016 · AG record ↗
Compare
| Figure | This building1 | 32 East 1st231 units · 0.4 miaccepted 2016 | 570 Broome354 units · 1.2 miaccepted 2017 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $1.66Highest | $1.39 | $1.07 |
| Average Offering PricePer Apartment | $1.96MLowest | $3.11M | $2.76M |
| Average PricePer Square Foot | $2,090Below peers | $2,699 | $2,410 |
| Property TaxesPer Square Foot / Month | $0.98Below peers | $1.06 | $1.65 |
| Average Unit SizeSquare Feet | 938 SFSmallest | 1,154 SF | 1,144 SF |
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Unit mix, closings, budgets, finishes and the team, against 32 East 1st and 570 Broome, cited to the offering plans. No credit card required.
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- 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.
Units & Prices
Closings Pro
| Homes closed96% of the homes in Schedule A | 27 of 28 |
| Closing prices vs. Schedule A24 homes: $42,873,601 at closing against $45,330,000 in Schedule A (p. 65) | −5.4% |
| Average closing price24 homes, on their Schedule A square feet | $1,981 / SF |
| Closingsfirst and latest recorded | Mar 25, 2019 – May 15, 2023 |
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 27 closings
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| 5A | Mar 25, 2019 | $1,494,282 | $1,475,000 p. 65 | +1.3% |
| 6B | Mar 27, 2019 | $1,504,720 | $1,525,000 p. 65 | −1.3% |
| 8B | Mar 27, 2019 | $2,710,000 | $2,750,000 p. 65 | −1.5% |
| 5B | Mar 28, 2019 | $1,450,000 | $1,475,000 p. 65 | −1.7% |
| 8A | Mar 28, 2019 | $2,685,125 | $2,700,000 p. 65 | −0.6% |
| 4C | Apr 5, 2019 | $2,160,000 | $1,180,000 p. 65 | +83.1% |
| 9A | Apr 11, 2019 | $2,560,000 | $2,600,000 p. 65 | −1.5% |
| 3D | Apr 12, 2019 | $1,150,000 | $1,150,000 p. 65 | 0% |
| 7B | Apr 12, 2019 | $1,555,062 | $1,575,000 p. 65 | −1.3% |
| 2A | Apr 16, 2019 | $1,221,900 | $1,225,000 p. 65 | −0.3% |
| 10A | Apr 25, 2019 | $2,609,266 | $2,700,000 p. 65 | −3.4% |
| 7C | Apr 26, 2019 | $1,301,000 | $1,285,000 p. 65 | +1.2% |
| 5D | Jun 12, 2019 | $1,184,500 | $1,210,000 p. 65 | −2.1% |
| 1B | Sep 23, 2019 | $2,537,500 | — | — |
| 3B | Dec 30, 2019 | $1,215,000 | $1,395,000 p. 65 | −12.9% |
| 4B | Feb 28, 2020 | $1,300,000 | $1,435,000 p. 65 | −9.4% |
| 3A | Apr 9, 2020 | $1,293,687 | $1,395,000 p. 65 | −7.3% |
| 5C | May 6, 2020 | $1,087,500 | $1,210,000 p. 65 | −10.1% |
| 7A | May 27, 2020 | $2,578,000 | $2,765,000 p. 65 | −6.8% |
| PHB | Feb 25, 2021 | $4,148,365 | $5,450,000 p. 65 | −23.9% |
| 4A | Mar 4, 2021 | $1,305,274 | $1,435,000 p. 65 | −9% |
| 9B | Apr 16, 2021 | $1,985,000 | $2,300,000 p. 65 | −13.7% |
| 1A | May 7, 2021 | $2,347,792 | — | — |
| 6C | Jul 9, 2021 | $1,125,000 | $1,245,000 p. 65 | −9.6% |
| 3C | Jul 23, 2021 | $999,922 | $1,150,000 p. 65 | −13.1% |
| 11A | Jan 18, 2022 | $2,469,256 | — | — |
| 6A | May 15, 2023 | $2,250,000 | $2,700,000 p. 65 | −16.7% |
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Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.
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
- 287 Les Jv LLC
- Developer
- Vinci US Real Estate Sub-Fund I, L.P.
- Principals
- Andres Hogg, Jose Antonio Tornaghi Grabowsky
- Tax estimate
- Tuchman, Korngold, Weiss, Liebman & Gelles, LLPPrepared the first-year real estate tax projection
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- 14 Clinton Street Condominiumnext door · 6 units · 2022
- 265 East Houston Street Condominiumnext door · 7 units · 2017
- One Avenue B Condominiumsnext door · 22 units · 2006
- 209 East 2nd Street Condominiumnext door · 6 units · 2007
- Carriage House Condominiumnext door · 8 units · 1 parking · 2006
- 32 Clinton Condominiumnext door · 4 units · 2008