THE CONDO BOOK PROJECT

49 Chambers Street Condominium

49-51 Chambers Street, Manhattan, NY 10007

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Overview

Units
99 residential · 1 commercial
Subway
2 min walk to Brooklyn Bridge-City Hall/Chambers St 4 5 6 J ZCity Hall R W, 3 min
Principals
Meyer Chetrit
Average $/sf
$1,859Homes in Schedule A, as first offered
Offering price
$329.7 million total $333.9 million when first offered

The sponsor of record is 49-51 Chambers LLC**, represented by Gerstein Strauss & Rinaldi, LLP. The offering plan runs 638 pages. The sponsor has filed 27 amendments, the latest in September 2025. The nearest other condo plan on file is 57 Reade Condominium, next door.

Plan CD160015 · Rehab · accepted Feb 23, 2017 · AG record ↗

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FigureThis building1108 Leonard2152 units · 0.2 miaccepted 2017The Shephard361 units · 1.4 miaccepted 2015
Common ChargesPer Square Foot / Month$0.81Below peers$1.26$0.94
Average Offering PricePer Apartment$3.33MLowest$4.14M$6.14M
Average PricePer Square Foot$1,859Lowest$2,248$3,121
Average Unit SizeSquare Feet1,791 SFSmaller1,844 SF1,969 SF

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Unit mix, closings, budgets, finishes and the team, against 108 Leonard and The Shephard, 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 A97 of 99
Closing prices vs. Schedule A74 homes: $223,790,652 at closing against $257,695,000 in Schedule A (p. 49, p. 50, p. 51, p. 52, p. 53, p. 54)−13.2%
Average closing price74 homes, on their Schedule A square feet$1,665 / SF
Closingsfirst and latest recordedFeb 26, 2019 – May 7, 2026

Sales recorded with the Department of Finance (ACRIS) through Aug 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 97 closings
HomeRecordedClosing priceSchedule ADifference
8DFeb 26, 2019$3,800,000$4,125,000 p. 51−7.9%
12FFeb 26, 2019$1,731,025$2,055,000 p. 52−15.8%
9AMar 1, 2019$3,400,000$3,550,000 p. 50−4.2%
10BMar 6, 2019$3,052,603$3,195,000 p. 50−4.5%
9DMar 22, 2019$3,800,000$4,200,000 p. 51−9.5%
10AMar 22, 2019$3,487,506$3,600,000 p. 50−3.1%
9CMar 25, 2019$2,205,000$2,555,000 p. 51−13.7%
7DApr 8, 2019$3,650,000$4,025,000 p. 51−9.3%
8AApr 16, 2019$3,340,000$3,500,000 p. 50−4.6%
11CApr 16, 2019$2,325,000$2,615,000 p. 51−11.1%
14DApr 22, 2019$4,150,000$4,500,000 p. 51−7.8%
10CApr 25, 2019$2,210,000$2,585,000 p. 51−14.5%
7CApr 30, 2019$2,050,000$2,470,000 p. 51−17%
11DApr 30, 2019$3,925,000$4,350,000 p. 51−9.8%
11FApr 30, 2019$1,750,000$2,035,000 p. 52−14%
7AMay 2, 2019$3,200,000$3,425,000 p. 49−6.6%
7FMay 8, 2019$1,650,000$1,955,000 p. 52−15.6%
10DMay 13, 2019$3,900,000$4,275,000 p. 51−8.8%
7BMay 29, 2019$2,775,094$3,025,000 p. 50−8.3%
12DMay 30, 2019$4,030,000$4,425,000 p. 51−8.9%
14EJun 20, 2019$7,300,000$5,800,000 p. 52+25.9%
8FJul 16, 2019$1,650,000$1,975,000 p. 52−16.5%
9BJul 31, 2019$2,926,463$3,145,000 p. 50−6.9%
6FAug 5, 2019$1,580,000$1,935,000 p. 52−18.3%
6CAug 28, 2019$2,000,000$2,440,000 p. 50−18%
8GAug 30, 2019$1,900,000$2,145,000 p. 53−11.4%
8HSep 23, 2019$2,341,975$2,825,000 p. 53−17.1%
15EOct 7, 2019$7,100,000——
PHBOct 28, 2019$8,750,000$7,950,000 p. 53+10.1%
8BNov 12, 2019$2,900,000$3,095,000 p. 50−6.3%
12CDec 16, 2019$2,000,000$2,645,000 p. 51−24.4%
16EJan 3, 2020$5,400,000——
16DJan 16, 2020$4,050,000——
8CFeb 24, 2020$1,895,000$2,525,000 p. 51−25%
11BFeb 28, 2020$2,890,000$3,245,000 p. 50−10.9%
11EMar 5, 2020$4,990,000$5,650,000 p. 52−11.7%
7HMay 15, 2020$2,270,000$2,775,000 p. 53−18.2%
10GJun 5, 2020$1,790,000$2,205,000 p. 53−18.8%
11AJun 12, 2020$3,500,000$3,650,000 p. 50−4.1%
14CJul 8, 2020$2,025,000$2,675,000 p. 51−24.3%
6GJul 14, 2020$1,650,000$2,085,000 p. 53−20.9%
6AOct 22, 2020$2,900,000$3,375,000 p. 49−14.1%
6HOct 29, 2020$2,036,500$2,725,000 p. 53−25.3%
16CNov 19, 2020$2,090,000——
17ENov 20, 2020$4,995,000——
15CDec 21, 2020$2,020,000——
5FDec 28, 2020$1,781,938$1,915,000 p. 52−6.9%
PHCJan 15, 2021$4,750,000$6,275,000 p. 53−24.3%
15DFeb 2, 2021$3,300,000——
11GFeb 19, 2021$1,669,930$2,235,000 p. 53−25.3%
5AFeb 26, 2021$2,800,000$3,325,000 p. 49−15.8%
12BMar 2, 2021$2,760,000$3,295,000 p. 50−16.2%
10FMar 26, 2021$1,500,000$2,015,000 p. 52−25.6%
15BMar 29, 2021$2,850,000——
12GApr 5, 2021$1,650,000$2,265,000 p. 53−27.2%
PHDApr 8, 2021$6,400,000$6,950,000 p. 54−7.9%
15GApr 9, 2021$1,750,000——
14BApr 13, 2021$2,800,000$3,345,000 p. 50−16.3%
6DApr 16, 2021$3,200,000$3,950,000 p. 51−19%
12HApr 28, 2021$2,370,000$3,175,000 p. 53−25.4%
16BApr 29, 2021$3,100,000——
9EJun 17, 2021$4,625,000$5,500,000 p. 52−15.9%
9FJun 21, 2021$1,475,000$1,995,000 p. 52−26.1%
14GJun 25, 2021$1,900,000$2,295,000 p. 53−17.2%
12EJun 30, 2021$4,650,000$5,725,000 p. 52−18.8%
10EJul 1, 2021$4,550,000$5,575,000 p. 52−18.4%
9HJul 7, 2021$2,180,180$2,875,000 p. 53−24.2%
6BJul 15, 2021$2,500,000$2,975,000 p. 50−16%
11HJul 21, 2021$2,250,000$3,125,000 p. 53−28%
7GJul 23, 2021$1,605,000$2,115,000 p. 53−24.1%
10HJul 28, 2021$2,225,000$2,925,000 p. 53−23.9%
16FJul 30, 2021$1,640,000——
16AAug 5, 2021$3,200,000——
7EAug 6, 2021$4,338,188$5,350,000 p. 52−18.9%
12AAug 9, 2021$3,049,659$3,700,000 p. 50−17.6%
6EAug 13, 2021$4,050,000$5,275,000 p. 52−23.2%
14HSep 28, 2021$2,415,000$3,225,000 p. 53−25.1%
15AOct 27, 2021$3,200,000——
17CDec 10, 2021$2,070,000——
16GDec 22, 2021$1,933,205——
14ADec 29, 2021$3,030,000$3,750,000 p. 50−19.2%
17GDec 30, 2021$1,980,000——
17AFeb 28, 2022$3,189,000——
17HMar 17, 2022$2,700,000——
9GApr 21, 2022$1,725,000$2,175,000 p. 53−20.7%
5BMay 9, 2022$1,890,000$2,925,000 p. 50−35.4%
15HMay 20, 2022$2,600,000——
5CMay 23, 2022$2,000,861$2,410,000 p. 50−17%
5EJun 22, 2022$3,175,000$5,200,000 p. 51−38.9%
8EJul 6, 2022$4,995,000$5,225,000 p. 52−4.4%
16HAug 1, 2022$2,650,000——
PHAAug 25, 2022$6,950,000$7,350,000 p. 53−5.4%
17FSep 7, 2022$1,650,000——
17DNov 30, 2022$3,565,000——
17BFeb 24, 2023$3,068,630——
5DDec 17, 2025$3,053,732$3,875,000 p. 51−21.2%
5GMay 7, 2026$3,750,000$2,055,000 p. 53+82.5%

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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
49-51 Chambers LLC**
Principals
Meyer Chetrit
Tax estimate
Tuchman, Korngold, Weiss, Liebman & Gelles, LLPPrepared the first-year real estate tax projection
Construction lenders
Delphi CRE Funding, 49-51 Chambers Funding

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

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