THE CONDO BOOK PROJECT

378 West End Avenue

378 West End Avenue, Manhattan, NY 10024

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Overview

Units
58 residential · 9 parking · 58 storage
Subway
2 min walk to 79 St 172 St 1 2 3, 7 min
Principals
Kenneth S. Hom
Average $/sf
$2,844Homes in Schedule A, as first offered
Common charges
$1,053–$9,070 a monthSponsor's first-year estimate in Schedule A, December 1, 2021 to November 30, 2022
Offering price
$484.6 million total

The sponsor of record is 378 Wea Owner LLC**, represented by Schwartz Sladkus Reich Greenberg Atlas LLP. The offering plan runs 506 pages. The sponsor has filed 5 amendments, the latest in August 2023. The nearest other condo plan on file is Broadway 77 Condominium, next door.

Plan CD190412 · New · accepted Oct 8, 2020 · AG record ↗

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FigureThis building1Westly257 units · 0.7 miaccepted 2021The Leyton338 units · 1.6 miaccepted 2020
Common ChargesPer Square Foot / Month$1.19In line$1.13$1.38
Average Offering PricePer Apartment$8.28MHighest$4.63M$5.41M
Average PricePer Square Foot$2,844Above peers$2,450$2,768
Property TaxesPer Square Foot / Month$1.40In line$1.15$2.27
Average Unit SizeSquare Feet2,913 SFLargest1,889 SF1,932 SF

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Unit mix, closings, budgets, finishes and the team, against Westly and The Leyton, 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 closed98% of the homes in Schedule A57 of 58
Closing prices vs. Schedule A56 homes: $455,914,965 at closing against $454,500,000 in Schedule A (p. 64, p. 65)+0.3%
Average closing price56 homes, on their Schedule A square feet$2,808 / SF
Closingsfirst and latest recordedApr 26, 2022 – Apr 14, 2025

Sales recorded with the Department of Finance (ACRIS) through Jun 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 57 closings
HomeRecordedClosing priceSchedule ADifference
4AApr 26, 2022$7,270,000$7,270,000 p. 640%
5BApr 28, 2022$8,136,993$8,095,000 p. 64+0.5%
3AApr 29, 2022$7,145,000$7,145,000 p. 640%
8AMay 5, 2022$7,995,000$7,995,000 p. 640%
2AMay 6, 2022$6,995,000$6,995,000 p. 640%
9BMay 6, 2022$7,800,000$7,800,000 p. 640%
8BMay 11, 2022$7,650,000$7,650,000 p. 640%
2DMay 13, 2022$5,595,000$5,550,000 p. 64+0.8%
3DMay 19, 2022$5,750,000$5,750,000 p. 640%
9AMay 19, 2022$8,175,000$7,975,000 p. 64+2.5%
5DMay 23, 2022$5,925,000$5,875,000 p. 64+0.9%
3EJun 1, 2022$3,667,661$3,600,000 p. 64+1.9%
6BJun 6, 2022$8,395,000$8,195,000 p. 64+2.4%
1BJun 15, 2022$1,831,259$1,795,000 p. 64+2%
1CJun 15, 2022$2,013,204$1,995,000 p. 64+0.9%
7CJul 6, 2022$10,350,000$10,350,000 p. 640%
9CJul 6, 2022$10,650,000$10,650,000 p. 640%
8CJul 7, 2022$10,600,000$10,600,000 p. 640%
10AJul 8, 2022$8,300,000$8,100,000 p. 64+2.5%
10BJul 8, 2022$7,450,000$7,450,000 p. 640%
10DJul 13, 2022$7,426,256$7,350,000 p. 64+1%
12DJul 14, 2022$6,650,000$6,650,000 p. 650%
12AJul 20, 2022$8,625,338$8,450,000 p. 65+2.1%
2EJul 25, 2022$3,500,000$3,525,000 p. 64−0.7%
6CJul 27, 2022$10,305,825$10,200,000 p. 64+1%
4DAug 1, 2022$5,800,000$5,800,000 p. 640%
5AAug 2, 2022$7,595,000$7,395,000 p. 64+2.7%
15BAug 4, 2022$4,669,931$4,575,000 p. 65+2.1%
11AAug 8, 2022$8,425,000$8,225,000 p. 65+2.4%
4BAug 12, 2022$8,268,547$7,995,000 p. 64+3.4%
15AAug 18, 2022$25,950,000$25,950,000 p. 650%
14CAug 31, 2022$8,850,000$8,850,000 p. 650%
PHCSep 12, 2022$25,500,000——
2COct 28, 2022$14,500,000$14,500,000 p. 640%
11CNov 3, 2022$8,675,000$8,675,000 p. 650%
PHBNov 3, 2022$11,950,000$11,950,000 p. 650%
5CNov 4, 2022$10,350,000$10,050,000 p. 64+3%
12CNov 14, 2022$9,135,713$8,950,000 p. 65+2.1%
6DNov 21, 2022$6,000,000$5,950,000 p. 64+0.8%
10CDec 5, 2022$9,450,000$9,450,000 p. 640%
12BDec 7, 2022$7,150,000$6,950,000 p. 65+2.9%
11BJan 12, 2023$7,100,000$7,100,000 p. 650%
7BFeb 9, 2023$8,650,000$8,650,000 p. 640%
6AMar 15, 2023$7,795,000$7,595,000 p. 64+2.6%
4CMar 27, 2023$10,150,000$9,895,000 p. 64+2.6%
1AMar 28, 2023$2,189,238$2,150,000 p. 64+1.8%
3BJul 6, 2023$7,685,000$7,895,000 p. 64−2.7%
PHAJul 11, 2023$24,750,000$26,000,000 p. 65−4.8%
2BJul 14, 2023$7,975,000$7,995,000 p. 64−0.3%
11DJul 25, 2023$6,675,000$6,500,000 p. 65+2.7%
15CJul 27, 2023$10,200,000$10,350,000 p. 65−1.4%
14BAug 25, 2023$6,475,000$6,275,000 p. 65+3.2%
9DAug 29, 2023$6,250,000$6,175,000 p. 64+1.2%
14DMay 17, 2024$5,725,000$5,800,000 p. 65−1.3%
8DMay 23, 2024$6,150,000$6,100,000 p. 64+0.8%
7DAug 29, 2024$5,900,000$6,025,000 p. 64−2.1%
7AApr 14, 2025$7,275,000$7,720,000 p. 64−5.8%

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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
378 Wea Owner LLC**
Principals
Kenneth S. Hom
Tax estimate
Tuchman, Korngold, Weiss, Liebman & Lindemann, LLPPrepared the first-year real estate tax projection
Construction lender
Bank OZK$230 million loan stated in the plan

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

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