THE CONDO BOOK PROJECT

101 Wall Condominium

99-101 Wall Street, Manhattan, NY 10005

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Overview

Units
52 residential · 3 commercial
Subway
3 min walk to Wall St 2 3Broad St J Z, 5 min
Developer
Claremont Group
Principals
A. Alex Lari, Christina M. Lari, John P. Lari, Stephen Lari
Average $/sf
$1,661Homes in Schedule A, as first offered
Common charges
$883–$4,061 a monthSponsor's first-year estimate in Schedule A, March 1, 2016 - February 28, 2017
Offering price
$112.5 million total

The sponsor of record is 99 Wall Development Inc., represented by Olshan Frome Wolosky LLP. The offering plan runs 402 pages. The sponsor has filed 23 amendments, the latest in August 2022. The nearest other condo plan on file is 75 Wall Street Condominium, next door.

Plan CD140367 · New · accepted Apr 16, 2015 · AG record ↗

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FigureThis building1287/Les228 units · 1.7 miaccepted 2016196 Orchard394 units · 1.6 miaccepted 2016
Common ChargesPer Square Foot / Month$1.28Below peers$1.66$1.35
Average Offering PricePer Apartment$2.24MAbove peers$1.96M$2.18M
Average PricePer Square Foot$1,661Lowest$2,090$2,328
Property TaxesPer Square Foot / Month$1.18In line$0.98$1.85
Average Unit SizeSquare Feet1,347 SFLargest938 SF938 SF

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Unit mix, closings, budgets, finishes and the team, against 287/Les and 196 Orchard, 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 closed98% of the homes in Schedule A51 of 52
Closing prices vs. Schedule A47 homes: $93,531,037 at closing against $99,500,000 in Schedule A (p. 30, p. 31)−6%
Average closing price47 homes, on their Schedule A square feet$1,525 / SF
Closingsfirst and latest recordedMar 29, 2016 – Aug 20, 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 51 closings
HomeRecordedClosing priceSchedule ADifference
COMMAMar 29, 2016$9,625,000——
COMMBMar 29, 2016$9,625,000——
COMMCMar 29, 2016$9,625,000——
7BMar 29, 2017$2,443,800$2,400,000 p. 30+1.8%
12CApr 17, 2017$2,000,861$1,965,000 p. 30+1.8%
15CApr 17, 2017$2,095,000$2,005,000 p. 30+4.5%
6CApr 18, 2017$1,756,481$1,680,000 p. 30+4.6%
10CApr 18, 2017$2,031,409$1,925,000 p. 30+5.5%
17BApr 27, 2017$3,818,438$3,650,000 p. 31+4.6%
6AMay 2, 2017$1,216,809$1,110,000 p. 30+9.6%
17AMay 3, 2017$2,021,226$1,985,000 p. 30+1.8%
9AMay 11, 2017$1,160,805$1,140,000 p. 30+1.8%
7CMay 16, 2017$1,710,467$1,695,000 p. 30+0.9%
5AMay 17, 2017$1,155,714$1,100,000 p. 30+5.1%
14CMay 24, 2017$2,107,778$1,985,000 p. 30+6.2%
19BMay 31, 2017$3,207,488$3,150,000 p. 31+1.8%
4CJun 1, 2017$1,695,000$1,650,000 p. 30+2.7%
19AJun 1, 2017$1,598,653$1,500,000 p. 31+6.6%
16AJun 8, 2017$1,200,000$1,200,000 p. 300%
16BJun 8, 2017$2,550,000$2,425,000 p. 30+5.2%
16CJun 8, 2017$2,025,000$2,025,000 p. 300%
20AJun 12, 2017$1,649,565$1,785,000 p. 31−7.6%
9CJun 13, 2017$1,802,303$1,725,000 p. 30+4.5%
18ABJun 28, 2017$5,225,000——
8CJun 29, 2017$1,718,806$1,710,000 p. 30+0.5%
15AAug 8, 2017$1,245,000$1,190,000 p. 30+4.6%
21AAug 16, 2017$4,100,000$4,100,000 p. 310%
5BSep 28, 2017$2,372,500$2,350,000 p. 30+1%
8BNov 15, 2017$2,571,081$2,425,000 p. 30+6%
4ANov 29, 2017$977,520$960,000 p. 30+1.8%
6BDec 19, 2017$2,394,160$2,375,000 p. 30+0.8%
14AJan 17, 2018$1,205,904$1,180,000 p. 30+2.2%
14BJan 23, 2018$2,418,344$2,375,000 p. 30+1.8%
10AFeb 13, 2018$1,186,115$1,150,000 p. 30+3.1%
5CFeb 21, 2018$1,625,000$1,665,000 p. 30−2.4%
4BMay 23, 2018$2,225,000$2,300,000 p. 30−3.3%
10BSep 6, 2018$2,000,000$2,300,000 p. 30−13%
7ASep 10, 2018$985,000$1,120,000 p. 30−12.1%
PH2Sep 28, 2018$5,250,000$6,250,000 p. 31−16%
23AOct 3, 2018$2,775,000$3,395,000 p. 31−18.3%
8AFeb 8, 2019$938,486$1,130,000 p. 30−16.9%
9BFeb 27, 2019$2,000,000$2,450,000 p. 30−18.4%
2BMar 22, 2019$2,125,000$2,995,000 p. 30−29%
2CApr 30, 2019$1,985,000$2,550,000 p. 30−22.2%
15BMay 9, 2019$1,937,520$2,400,000 p. 30−19.3%
11CMay 20, 2019$1,525,000$1,945,000 p. 30−21.6%
11AMay 24, 2019$973,806$1,160,000 p. 30−16.1%
12AJul 26, 2019$975,000$1,170,000 p. 30−16.7%
22AOct 8, 2019$3,175,000$3,880,000 p. 31−18.2%
2AJan 7, 2020$1,975,000$2,550,000 p. 30−22.5%
11BAug 20, 2026$1,625,000$2,325,000 p. 30−30.1%

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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
99 Wall Development Inc.
Developer
Claremont Group
Principals
A. Alex Lari, Christina M. Lari, John P. Lari, Stephen Lari
Tax estimate
Tuchman, Korngold, Weiss, Liebman & Gelles, LLPPrepared the first-year real estate tax projection
Construction lender
Sbnp Sia Mortgage ILender on the mortgage and building loan agreement recorded September 2014 in ACRIS; $55.4 million recorded

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

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