THE CONDO BOOK PROJECT

40 Bleecker

40 Bleecker Street, Manhattan, NY 10012

Compare

Overview

Units
61 residential · 11 parking · 40 storage · 1 commercial
Subway
1 min walk to Broadway-Lafayette St/Bleecker St 6 B D F M2 Av F, 5 min
Principals
Daniel M. Blanco, Raymond E. Chalmé
Offering price
$309.4 million total $288.5 million when first offered

The sponsor of record is 304 Mulberry Street Operating Company, L.L.C., represented by Cutler Minikes & Adelman, LLP. The offering plan runs 365 pages. The sponsor has filed 17 amendments, the latest in February 2024. The nearest other condo plan on file is Schumacher Condominium, next door.

Plan CD160394 · Rehab · accepted Jun 15, 2017 · AG record ↗

Compare

FigureThis building149 Chambers299 units · 1 miaccepted 2017The Shephard361 units · 0.9 miaccepted 2015
Average Offering PricePer Apartment$4.66MIn line$3.33M$6.14M

Free Account

See the Full Comp

Unit mix, closings, budgets, finishes and the team, against 49 Chambers and The Shephard, cited to the offering plans. No credit card required.

Create a free account
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 A61 of 61
Closing prices vs. Schedule A61 homes: $287,924,269 at closing against $283,984,555 in Schedule A (p. 36, p. 37)+1.4%
Closingsfirst and latest recordedNov 10, 2020 – Apr 4, 2024

Sales recorded with the Department of Finance (ACRIS) through Mar 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 61 closings
HomeRecordedClosing priceSchedule ADifference
5ENov 10, 2020$2,144,391$2,125,000 p. 36+0.9%
4CNov 12, 2020$3,141,301$3,045,000 p. 36+3.2%
3ENov 13, 2020$1,960,131$1,925,000 p. 36+1.8%
5BNov 13, 2020$6,694,994$5,375,000 p. 36+24.6%
5DNov 13, 2020$3,589,331$3,525,000 p. 36+1.8%
6CNov 13, 2020$3,360,225$3,330,000 p. 37+0.9%
2DNov 16, 2020$3,092,873$3,225,000 p. 36−4.1%
4ANov 16, 2020$4,256,285$4,095,000 p. 36+3.9%
3CNov 17, 2020$3,003,838$2,950,000 p. 36+1.8%
3GNov 19, 2020$1,725,000$1,775,000 p. 36−2.8%
3HNov 19, 2020$1,935,000$2,025,000 p. 36−4.4%
5HNov 23, 2020$2,050,000$2,225,000 p. 36−7.9%
5CNov 25, 2020$3,207,488$3,145,000 p. 36+2%
3DDec 2, 2020$3,421,320$3,320,000 p. 36+3.1%
9FDec 2, 2020$3,700,000$4,465,000 p. 37−17.1%
4DDec 3, 2020$3,487,506$3,425,000 p. 36+1.8%
2ADec 8, 2020$4,000,000$4,100,000 p. 36−2.4%
4EDec 8, 2020$2,061,956$2,025,000 p. 36+1.8%
8BDec 10, 2020$7,326,309$5,760,000 p. 37+27.2%
4HDec 11, 2020$2,050,000$2,125,000 p. 36−3.5%
9BDec 11, 2020$7,188,845$5,855,000 p. 37+22.8%
9DDec 11, 2020$5,574,919$5,545,000 p. 37+0.5%
8DDec 18, 2020$4,836,150$5,445,000 p. 37−11.2%
PH CDec 18, 2020$10,100,000$9,985,000 p. 37+1.2%
PH ADec 21, 2020$10,676,351$10,185,000 p. 37+4.8%
7CDec 22, 2020$3,512,963$3,445,000 p. 37+2%
PH BDec 29, 2020$6,720,450$6,565,000 p. 37+2.4%
2EJan 18, 2021$20,000$1,820,000 p. 36−98.9%
9CJan 19, 2021$3,650,000$3,665,000 p. 37−0.4%
4GJan 22, 2021$1,875,000$1,875,000 p. 360%
PH EJan 26, 2021$14,450,000$14,800,000 p. 37−2.4%
5GFeb 8, 2021$1,800,000$1,975,000 p. 36−8.9%
6FMar 5, 2021$3,485,000$4,175,000 p. 37−16.5%
4BMar 15, 2021$6,115,000$5,265,000 p. 36+16.1%
8FApr 7, 2021$3,695,000$4,365,000 p. 37−15.3%
6BApr 9, 2021$6,300,000$5,575,000 p. 37+13%
7DApr 14, 2021$4,985,000$5,345,000 p. 37−6.7%
2FApr 15, 2021$4,050,000$4,075,000 p. 36−0.6%
7BApr 30, 2021$6,400,000$5,700,000 p. 37+12.3%
8EMay 4, 2021$5,525,000$6,500,000 p. 37−15%
3AMay 12, 2021$3,945,000$3,999,000 p. 36−1.4%
4FMay 12, 2021$4,035,000$4,145,000 p. 36−2.7%
6DMay 18, 2021$4,400,000$5,250,000 p. 37−16.2%
6EMay 20, 2021$5,250,000$6,325,000 p. 37−17%
PH DJun 2, 2021$18,883,875$13,025,000 p. 37+45%
5FJun 10, 2021$4,055,000$4,245,000 p. 36−4.5%
3FJun 15, 2021$3,890,000$4,045,000 p. 36−3.8%
5AJun 15, 2021$4,195,000$4,195,000 p. 360%
2GJun 16, 2021$3,295,000$3,365,000 p. 36−2.1%
6AJun 16, 2021$4,225,000$4,395,000 p. 36−3.9%
7FJul 26, 2021$3,585,000$4,265,000 p. 37−15.9%
PH FSep 29, 2021$11,100,000$9,900,000 p. 37+12.1%
7ESep 30, 2021$5,400,000$6,400,000 p. 37−15.6%
9EOct 7, 2021$5,700,000$6,600,000 p. 37−13.6%
9AOct 20, 2021$4,418,000$4,695,000 p. 37−5.9%
2BNov 30, 2021$5,800,000$5,060,000 p. 36+14.6%
7ADec 6, 2021$4,275,000$4,495,000 p. 37−4.9%
8ADec 20, 2021$4,389,225$4,595,000 p. 37−4.5%
8CJan 25, 2022$3,550,000$3,535,000 p. 37+0.4%
3BMar 9, 2023$6,225,000$5,165,000 p. 36+20.5%
2CApr 4, 2024$140,545$140,555 p. 36−0%

Pro

Closings are for subscribers

Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.

Subscribe to seeAlready a member? Sign in

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
304 Mulberry Street Operating Company, L.L.C.
Principals
Daniel M. Blanco, Raymond E. Chalmé
Tax estimate
Marcus & Pollack LLPPrepared the first-year real estate tax projection
Construction lender
Bank OZKLender on the mortgage and building loan agreement recorded December 2016 in ACRIS; $130.1 million recorded

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

Nearby