THE CONDO BOOK PROJECT

601 Washington Condominium

601 Washington Street, Manhattan, NY 10014

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Overview

Units
10 residential
Subway
6 min walk to Houston St 1Christopher St-Stonewall 1, 9 min
Developer
Shibumi Development
Principals
Charles Dunne, Zachary Waksal
Average $/sf
$3,197Homes in Schedule A, as first offered
Common charges
$2,654–$5,473 a monthSponsor's first-year estimate in Schedule A, January 1, 2020 to December 31, 2020
Offering price
$154.1 million total

The sponsor of record is 601 Washington Holdings LLC & Hadsw LLC, represented by Starr Associates, LLP. The offering plan runs 424 pages. The sponsor has filed 5 amendments, the latest in September 2021. The nearest other condo plan on file is 90 Morton Condominium, next door.

Plan CD190047 · New · accepted Jun 10, 2019 · AG record ↗

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FigureThis building117 Jane26 units · 0.6 miaccepted 2019100 Franklin310 units · 0.8 miaccepted 2019
Common ChargesPer Square Foot / Month$0.72Lowest$1.98$1.37
Average Offering PricePer Apartment$14.82MIn line$15.5M$4.75M
Average PricePer Square Foot$3,197In line$4,411$2,349
Property TaxesPer Square Foot / Month$1.09In line$0.90$1.80
Average Unit SizeSquare Feet4,637 SFLarger4,315 SF2,021 SF

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Unit mix, closings, budgets, finishes and the team, against 17 Jane and 100 Franklin, 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 closed90% of the homes in Schedule A9 of 10
Closing prices vs. Schedule A8 homes: $107,831,675 at closing against $114,329,400 in Schedule A (p. 45)−5.7%
Average closing price8 homes, on their Schedule A square feet$3,336 / SF
Closingsfirst and latest recordedJan 29, 2021 – May 23, 2022

Sales recorded with the Department of Finance (ACRIS) through Sep 30, 2025: 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 9 closings
HomeRecordedClosing priceSchedule ADifference
TH-WJan 29, 2021$18,250,000——
4EFeb 10, 2021$7,800,000$8,400,000 p. 45−7.1%
5EFeb 11, 2021$8,285,075$8,850,000 p. 45−6.4%
4WMar 5, 2021$7,500,000$8,386,800 p. 45−10.6%
PH EOct 15, 2021$30,650,000$31,395,000 p. 45−2.4%
PH WDec 3, 2021$31,000,000$32,274,000 p. 45−3.9%
3EDec 31, 2021$6,900,000$8,250,000 p. 45−16.4%
3WDec 31, 2021$6,651,600$8,097,600 p. 45−17.9%
5WMay 23, 2022$9,045,000$8,676,000 p. 45+4.3%

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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
601 Washington Holdings LLC & Hadsw LLC
Developer
Shibumi Development
Principals
Charles Dunne, Zachary Waksal
Tax estimate
Marcus & Pollack LLPPrepared the first-year real estate tax projection
Construction lender
First Republic Bank$73.3 million recorded

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

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