THE CONDO BOOK PROJECT

57 Lispenard Street Condominium

57 Lispenard Street, Manhattan, NY 10013

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Overview

Units
4 residential · 1 commercial
Subway
1 min walk to Canal St 6 J N Q R W ZCanal St A C E, 3 min
Principals
Barry S. Langer, Thomas Sanelli
Average $/sf
$2,024Homes in Schedule A, as first offered
Common charges
$1,570–$1,601 a monthSponsor's first-year estimate in Schedule A, July 1 2024 - June 30 2025
Offering price
$14.7 million total

The sponsor of record is 304-306 Canal Street LLC, represented by Kramer Levin Naftalis & Frankel, LLP. The offering plan runs 497 pages. The sponsor has filed 4 amendments, the latest in July 2025. The nearest other condo plan on file is 52 Lispenard Street Condominium, next door.

Plan CD230309 · Rehab · accepted May 10, 2024 · AG record ↗

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FigureThis building162-64 Reade26 units · 0.4 miaccepted 2023Rothko House32 units · 0.9 miaccepted 2025
Common ChargesPer Square Foot / Month$0.71Above peers$0.64$0.59
Average Offering PricePer Apartment$4.54MLowest$7.13M$6M
Average PricePer Square Foot$2,024Below peers$2,496$2,128
Property TaxesPer Square Foot / Month$2.24Highest$1.44$0.76
Average Unit SizeSquare Feet2,245 SFSmallest2,854 SF2,819 SF

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Unit mix, closings, budgets, finishes and the team, against 62-64 Reade and Rothko House, 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 closed100% of the homes in Schedule A4 of 4
Closing prices vs. Schedule A4 homes: $14,569,597 at closing against $18,175,000 in Schedule A (p. 59)−19.8%
Average closing price4 homes, on their Schedule A square feet$1,623 / SF
Closingsfirst and latest recordedApr 25, 2025 – May 1, 2025

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 4 closings
HomeRecordedClosing priceSchedule ADifference
2Apr 25, 2025$3,669,597$4,525,000 p. 59−18.9%
3Apr 29, 2025$3,600,000$4,475,000 p. 59−19.6%
4Apr 30, 2025$3,600,000$4,550,000 p. 59−20.9%
PHMay 1, 2025$3,700,000$4,625,000 p. 59−20%

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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
304-306 Canal Street LLC
Principals
Barry S. Langer, Thomas Sanelli
Tax estimate
Marcus & Pollack LLPPrepared the first-year real estate tax projection

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

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