THE CONDO BOOK PROJECT

Wellington Tower Condominium

350 East 82nd Street, Manhattan, NY 10028

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Overview

Units
147 residential
Subway
4 min walk to 86 St Q86 St 4 5 6, 11 min
Principals
Aby Rosen, Michael Fuchs
Average $/sf
$1,029Homes in Schedule A, as first offered
Common charges
$484–$4,011 a monthSponsor's first-year estimate in Schedule A, July 1, 2006 to June 30, 2007
Offering price
$142.2 million total

The sponsor of record is Bcre Wellington Owner, LLC, represented by Starr Associates, LLP. The offering plan runs 540 pages. The sponsor has filed 20 amendments, the latest in February 2013. The nearest other condo plan on file is Manor82 Condominium, next door.

Plan CD050042 · Conversion · accepted Feb 9, 2006 · AG record ↗

Compare

FigureThis building1Maison East2147 units · 0.3 miaccepted 2006L'Ecole Condominium/211 East 46th St *3261 units · 1.8 miaccepted 2007
Average Offering PricePer Apartment$967,449Above peers$930,419$819,973

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Unit mix, closings, budgets, finishes and the team, against Maison East and L'Ecole Condominium/211 East 46th St *, 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.

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
Bcre Wellington Owner, LLC
Principals
Aby Rosen, Michael Fuchs
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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