THE CONDO BOOK PROJECT

328 Grand Condominium

328 Grand Street, Manhattan, NY 10002

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Overview

Units
5 residential · 2 commercial
Subway
4 min walk to Delancey St-Essex St F J M ZGrand St B D, 4 min
Principals
Choy Ling ("Rita") Lam
Average $/sf
$1,732Homes in Schedule A, as first offered
Common charges
$376–$518 a monthSponsor's first-year estimate in Schedule A, July 1, 2016 to June 30, 2017
Offering price
$9.24 million total $12.7 million when first offered

The sponsor of record is 328 Grand LLC, represented by Certilman Balin Adler & Hyman, LLP. The offering plan runs 244 pages. The sponsor has filed 7 amendments, the latest in May 2025. The nearest other condo plan on file is 330 Grand Street Condominium, next door.

Plan CD150260 · New · accepted May 19, 2016 · AG record ↗

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FigureThis building1Thirteen West26 units · 1 miaccepted 2016Thirteen East36 units · 1 miaccepted 2016
Common ChargesPer Square Foot / Month$0.41Lowest$0.97$0.97
Average Offering PricePer Apartment$1.74MLowest$3.01M$3.01M
Average PricePer Square Foot$1,732Above peers$1,718$1,718
Property TaxesPer Square Foot / Month$0.72Lowest$1.05$1.05
Average Unit SizeSquare Feet1,004 SFSmallest1,753 SF1,753 SF

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Unit mix, closings, budgets, finishes and the team, against Thirteen West and Thirteen East, 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 A7 of 7
Closing prices vs. Schedule A5 homes: $6,958,000 at closing against $7,464,543 in Schedule A (p. 29)−6.8%
Average closing price5 homes, on their Schedule A square feet$1,529 / SF
Closingsfirst and latest recordedJan 23, 2025 – Jan 6, 2026

Sales recorded with the Department of Finance (ACRIS) through Feb 28, 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 7 closings
HomeRecordedClosing priceSchedule ADifference
3AJan 23, 2025$1,299,000$1,365,465 p. 29−4.9%
6AFeb 27, 2025$1,599,000$1,729,589 p. 29−7.6%
2AMar 28, 2025$1,400,000$1,502,012 p. 29−6.8%
5AMay 6, 2025$1,340,000$1,456,496 p. 29−8%
4AAug 7, 2025$1,320,000$1,410,981 p. 29−6.4%
1AJan 6, 2026$1,350,000one deed, 2 homes$2,513,300 p. 29—
CJan 6, 2026$1,350,000one deed, 2 homes$2,193,912 p. 29—

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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
328 Grand LLC
Principals
Choy Ling ("Rita") Lam
Tax estimate
Thomas E. BerinatoPrepared the first-year real estate tax projection
Construction lender
Cathay Bank$2.14 million recorded

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

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