THE CONDO BOOK PROJECT

Bayard House

81 Spring Street A/K/A 76 Crosby Street, Manhattan, NY 10013

Overview

Units
5 residential
Subway
1 min walk to Spring St 6Prince St R W, 3 min
Developer
Horizon Realty and Development Corp.
Average $/sf
$578Homes in Schedule A, as first offered
Common charges
$1,395–$2,245 a monthSponsor's first-year estimate in Schedule A, July 1, 2001 to June 30, 2002
Offering price
$17.9 million total

The sponsor of record is 81 Spring Realty LLC, represented by Greenberg Traurig, LLP. The offering plan runs 405 pages. The sponsor has filed 3 amendments, the latest in February 2002. The nearest other condo plan on file is 93 Crosby Street Condominium, next door.

Plan CD990123 · Rehab · accepted May 30, 2001 · AG record ↗

Closings Pro

Homes closed100% of the homes in Schedule A5 of 5
Closing prices vs. Schedule A4 homes: $32,680,000 at closing against $15,400,000 in Schedule A (p. 35)+112.2%
Average closing price4 homes, on their Schedule A square feet$1,276 / SF
Closingsfirst and latest recordedFeb 3, 2004 – Jun 5, 2015

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 6 closings
HomeRecordedClosing priceSchedule ADifference
2BFeb 3, 2004$1,629,200——
3Mar 2, 2005$6,830,000$2,500,000 p. 35+173.2%
PENTHOUSEJun 29, 2005$9,500,000$6,500,000 p. 35+46.2%
2AAug 22, 2005$2,550,000——
5Jan 18, 2006$7,250,000$3,300,000 p. 35+119.7%
4Jun 5, 2015$9,100,000$3,100,000 p. 35+193.5%

Pro

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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
81 Spring Realty LLC
Developer
Horizon Realty and Development Corp.
Tax estimate
Brown Harris Stevens Appraisal & Consulting, LLCPrepared the first-year real estate tax projection

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

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