THE CONDO BOOK PROJECT

75 Kenmare Street Condominium

75 Kenmare Street, Manhattan, NY 10012

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Overview

Units
38 residential · 1 parking · 16 storage · 2 commercial
Subway
2 min walk to Spring St 6Bowery J Z, 4 min
Principals
Joshua Schuster, Daniel Hollander
Average $/sf
$3,287Homes in Schedule A, as first offered
Common charges
$678–$3,911 a monthSponsor's first-year estimate in Schedule A, 1/1/19-12/31/19
Offering price
$137.3 million total $127.4 million when first offered

The sponsor of record is Kenmare And Mulberry Associates, LLC, represented by Marans Weisz & Newman LLC. The offering plan runs 347 pages. The sponsor has filed 16 amendments, the latest in July 2020. The nearest other condo plan on file is 199 Mott Street Condominium, next door.

Plan CD160113 · New · accepted Feb 1, 2017 · AG record ↗

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FigureThis building132 East 1st231 units · 0.4 miaccepted 2016570 Broome354 units · 0.6 miaccepted 2017
Common ChargesPer Square Foot / Month$1.12In line$1.39$1.07
Average Offering PricePer Apartment$3.68MHighest$3.11M$2.76M
Average PricePer Square Foot$3,287Highest$2,699$2,410
Property TaxesPer Square Foot / Month$0.87Lowest$1.06$1.65
Average Unit SizeSquare Feet1,119 SFSmaller1,154 SF1,144 SF

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Unit mix, closings, budgets, finishes and the team, against 32 East 1st and 570 Broome, 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 A38 of 38
Closing prices vs. Schedule A38 homes: $114,145,477 at closing against $139,810,000 in Schedule A (p. 30, p. 31)−18.4%
Average closing price38 homes, on their Schedule A square feet$2,684 / SF
Closingsfirst and latest recordedNov 26, 2019 – Jul 16, 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 40 closings
HomeRecordedClosing priceSchedule ADifference
5FNov 26, 2019$3,452,022$3,950,000 p. 31−12.6%
3CDec 6, 2019$1,600,000$1,840,000 p. 30−13%
5HDec 17, 2019$1,629,200$1,940,000 p. 31−16%
3BDec 20, 2019$1,740,741$1,900,000 p. 30−8.4%
3FDec 27, 2019$3,414,839$3,750,000 p. 30−8.9%
4HJan 16, 2020$1,603,744$1,840,000 p. 30−12.8%
2FJan 29, 2020$1,858,306$2,045,000 p. 30−9.1%
3JJan 30, 2020$2,952,925$2,900,000 p. 30+1.8%
4BJan 30, 2020$1,765,969$1,975,000 p. 30−10.6%
2GFeb 4, 2020$2,341,975$2,300,000 p. 30+1.8%
3HFeb 6, 2020$1,710,467$1,765,000 p. 30−3.1%
2JFeb 7, 2020$2,320,988$2,500,000 p. 30−7.2%
3DFeb 7, 2020$3,050,000$3,475,000 p. 30−12.2%
2EFeb 20, 2020$1,702,317$1,855,000 p. 30−8.2%
5DMar 5, 2020$5,093,543$5,895,000 p. 30−13.6%
4JMar 20, 2020$3,002,147$2,975,000 p. 30+0.9%
6FMar 27, 2020$5,700,000$6,500,000 p. 31−12.3%
4FMar 31, 2020$3,359,497$3,850,000 p. 30−12.7%
2HApr 30, 2020$1,710,467$1,695,000 p. 30+0.9%
3EApr 30, 2020$2,540,534$2,925,000 p. 30−13.1%
5EJun 16, 2020$3,025,000$3,100,000 p. 30−2.4%
4DJul 13, 2020$3,525,000$3,550,000 p. 30−0.7%
6DOct 5, 2020$4,400,000$5,995,000 p. 31−26.6%
4ENov 13, 2020$2,400,000$3,000,000 p. 30−20%
2CDec 4, 2020$1,713,961$1,765,000 p. 30−2.9%
2DJan 14, 2021$2,647,450$3,400,000 p. 30−22.1%
5AJan 14, 2021$4,100,000$4,895,000 p. 30−16.2%
6AMar 12, 2021$4,150,000$4,995,000 p. 31−16.9%
6BApr 14, 2021$2,300,000$2,965,000 p. 31−22.4%
5BApr 27, 2021$2,250,000$2,865,000 p. 30−21.5%
PHBMay 25, 2021$6,565,000$10,500,000 p. 31−37.5%
3AMay 27, 2021$1,750,000$2,055,000 p. 30−14.8%
4CMay 27, 2021$1,620,000$1,915,000 p. 30−15.4%
2BJun 10, 2021$1,625,000$1,825,000 p. 30−11%
2AJun 16, 2021$1,700,000$1,980,000 p. 30−14.1%
4AJul 2, 2021$1,775,000$2,130,000 p. 30−16.7%
PHAJul 5, 2022$10,054,388$15,500,000 p. 31−35.1%
PHCMar 3, 2023$5,995,000$9,500,000 p. 31−36.9%
COMMAJul 16, 2026$11,750,000——
COMMBJul 16, 2026$11,750,000——

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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
Kenmare And Mulberry Associates, LLC
Principals
Joshua Schuster, Daniel Hollander
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Deutsche Bank AG$99.3 million recorded

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