THE CONDO BOOK PROJECT

62-64 Reade Street Condominium

62 And 64 Reade Street, Manhattan, NY 10007

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Overview

Units
6 residential · 1 commercial
Subway
2 min walk to Chambers St/WTC/Park Place/Cortlandt St 2 3 A C E R WCity Hall R W, 3 min
Developer
BSD Investments
Principals
Eran Chen
Average $/sf
$2,496Homes in Schedule A, as first offered
Common charges
$1,664–$2,039 a monthSponsor's first-year estimate in Schedule A, July 1, 2024 - June 30, 2025
Offering price
$45.7 million total

The sponsor of record is 62-64 Reade Street LLC, represented by Marans Newman Tsolis & Nazinitsky LLC. The offering plan runs 370 pages. The sponsor has filed 2 amendments, the latest in May 2025. The nearest other condo plan on file is 58-60 Reade Street Condominium, next door.

Plan CD230036 · Rehab · accepted Dec 4, 2023 · AG record ↗

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FigureThis building157 Lispenard24 units · 0.4 miaccepted 202432 Walker35 units · 0.3 miaccepted 2025
Common ChargesPer Square Foot / Month$0.64Below peers$0.71$1.74
Average Offering PricePer Apartment$7.13MIn line$4.54M$9.65M
Average PricePer Square Foot$2,496In line$2,024$2,935
Property TaxesPer Square Foot / Month$1.44In line$2.24$1.18
Average Unit SizeSquare Feet2,854 SFIn line2,245 SF3,403 SF

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Unit mix, closings, budgets, finishes and the team, against 57 Lispenard and 32 Walker, 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 closed33% of the homes in Schedule A2 of 6
Closing prices vs. Schedule A2 homes: $13,105,123 at closing against $13,200,000 in Schedule A (p. 51)−0.7%
Average closing price2 homes, on their Schedule A square feet$2,162 / SF
Closingsfirst and latest recordedApr 21, 2025 – May 5, 2025

Sales recorded with the Department of Finance (ACRIS) through May 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 2 closings
HomeRecordedClosing priceSchedule ADifference
Unit 3Apr 21, 2025$6,155,123$6,700,000 p. 51−8.1%
Unit 2May 5, 2025$6,950,000$6,500,000 p. 51+6.9%

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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
62-64 Reade Street LLC
Developer
BSD InvestmentsReported by web.archive.org
Principals
Eran Chen
Tax estimate
Korngold Powers LLPPrepared the first-year real estate tax projection
Construction lender
Maxim Credit Group

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

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