THE CONDO BOOK PROJECT

347 Bowery Condominium

347 Bowery, Manhattan, NY 10003

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Overview

Units
5 residential · 2 commercial
Subway
5 min walk to Broadway-Lafayette St/Bleecker St 6 B D F M2 Av F, 5 min
Principals
Glauco Lolli-Ghetti
Average $/sf
$3,219Homes in Schedule A, as first offered
Common charges
$2,259–$4,312 a monthSponsor's first-year estimate in Schedule A, August 1, 2016 - July 31, 2017
Offering price
$69.5 million total $71.5 million when first offered

The sponsor of record is 347 Bowery Owner, LLC, represented by Holland & Knight LLP. The offering plan runs 284 pages. The sponsor has filed 13 amendments, the latest in March 2021. The nearest other condo plan on file is 52 East 4th Street Condo, next door.

Plan CD140261 · New · accepted Jan 20, 2015 · AG record ↗

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FigureThis building122 Bond26 units · 0.1 miaccepted 201534 Prince37 units · 0.3 miaccepted 2015
Common ChargesPer Square Foot / Month$0.99Lowest$2.08$1.77
Average Offering PricePer Apartment$9.35MBelow peers$13.01M$10.1M
Average PricePer Square Foot$3,219In line$3,971$2,964
Property TaxesPer Square Foot / Month$1.13Below peers$1.22$1.34
Average Unit SizeSquare Feet2,905 SFSmaller3,275 SF3,408 SF

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Unit mix, closings, budgets, finishes and the team, against 22 Bond and 34 Prince, 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 closed80% of the homes in Schedule A4 of 5
Closing prices vs. Schedule A3 homes: $18,005,663 at closing against $21,750,000 in Schedule A (p. 21)−17.2%
Average closing price3 homes, on their Schedule A square feet$2,258 / SF
Closingsfirst and latest recordedJun 28, 2017 – Feb 28, 2022

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 4 closings
HomeRecordedClosing priceSchedule ADifference
R-3Jun 28, 2017$6,155,663$6,500,000 p. 21−5.3%
PHJun 29, 2017$16,200,000——
R-5Oct 29, 2021$5,750,000$7,500,000 p. 21−23.3%
R-7Feb 28, 2022$6,100,000$7,750,000 p. 21−21.3%

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Closings are for subscribers

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
347 Bowery Owner, LLC
Principals
Glauco Lolli-Ghetti
Tax estimate
Marcus & Pollack LLPPrepared the first-year real estate tax projection

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

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