THE CONDO BOOK PROJECT

On Lok Bo Condominium

39 Monroe Street, Manhattan, NY 10002

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Overview

Units
8 residential · 1 commercial
Subway
6 min walk to East Broadway FGrand St B D, 11 min
Principals
Kam Mui Leung, Yat Sun Poon
Average $/sf
$1,500Homes in Schedule A, as first offered
Common charges
$768–$1,588 a monthSponsor's first-year estimate in Schedule A, January 1, 2021 - December 31, 2021
Offering price
$12.5 million total $16.6 million when first offered

The sponsor of record is On Lok Bo, LLC, represented by Law Offices Of Oliver Zhou. The offering plan runs 385 pages. The sponsor has filed 2 amendments, the latest in June 2021. The nearest other condo plan on file is Excel Tower Condominium, next door.

Plan CD190145 · Rehab · accepted Feb 1, 2021 · AG record ↗

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FigureThis building157 Lispenard24 units · 0.7 miaccepted 202462-64 Reade36 units · 0.7 miaccepted 2023
Common ChargesPer Square Foot / Month$1.19Highest$0.71$0.64
Average Offering PricePer Apartment$1.26MLowest$4.54M$7.13M
Average PricePer Square Foot$1,500Lowest$2,024$2,496
Property TaxesPer Square Foot / Month$0.44Lowest$2.24$1.44
Average Unit SizeSquare Feet838 SFSmallest2,245 SF2,854 SF

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Unit mix, closings, budgets, finishes and the team, against 57 Lispenard and 62-64 Reade, 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 closed38% of the homes in Schedule A3 of 8
Closing prices vs. Schedule A3 homes: $1,943,016 at closing against $2,902,500 in Schedule A (p. 38)−33.1%
Average closing price3 homes, on their Schedule A square feet$1,004 / SF
Closingsfirst and latest recordedMar 27, 2023 – Aug 28, 2023

Sales recorded with the Department of Finance (ACRIS) through May 31, 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 3 closings
HomeRecordedClosing priceSchedule ADifference
3AMar 27, 2023$692,660$967,500 p. 38−28.4%
2AMay 8, 2023$651,930$967,500 p. 38−32.6%
4AAug 28, 2023$598,426$967,500 p. 38−38.1%

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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
On Lok Bo, LLC
Principals
Kam Mui Leung, Yat Sun Poon
Counsel
Law Offices Of Oliver Zhou

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

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