THE CONDO BOOK PROJECT

50 Orchard Street Condominium

48-52 Orchard Street, Manhattan, NY 10022

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Overview

Units
28 residential · 3 commercial
Subway
4 min walk to East Broadway FGrand St B D, 5 min
Developer
Voyager Development Co., LLC
Offering price
$6.97 million total

The sponsor of record is 50 Orchard Associates LLC, represented by Turek Roth Grossman LLP. The offering plan runs 282 pages. The sponsor has filed 22 amendments, the latest in April 2014. The nearest other condo plan on file is 60 Orchard Street Condominiums, next door.

Plan CD030235 · New · accepted Sep 30, 2004 · AG record ↗

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FigureThis building1Perla'S Pueblo224 units · 0.8 miaccepted 2001Cocoa Exchange320 units · 1.2 miaccepted 2006
Average Offering PricePer Apartment$248,964Lowest$412,500$661,012

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Unit mix, closings, budgets, finishes and the team, against Perla'S Pueblo and Cocoa Exchange, 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
50 Orchard Associates LLC
Developer
Voyager Development Co., LLC
Tax estimate
Anthony Como AssociatesPrepared the first-year real estate tax projection
Construction lender
New York Life Insurance CompanyLender on the mortgage and building loan agreement recorded October 2003 in ACRIS

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

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