The Real Deal New York

New Condos: Lower Manhattan
The Setai Wall Street

May 15, 2014 10:44PM

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The Setai is a 34-story, 159-unit condo conversion at 40 Broad Street. The project, which hit the market three years ago, got off to a slowish start. Early on, developer Zamir Equities cut prices by as much as 16 percent to boost sales. And the building’s board has filed a still-pend- ing lawsuit against the developer, alleging construction defects. As of late July, seven units were still available. The least expensive was a 545-square-foot studio, asking $650,000. Also available is Alex Birken- stock’s 3,500-square-foot penthouse; the heir to the sandal fortune is asking $12.995 million. Residents have access to The Setai Club, with its 44,000 square-foot amenity space, including a health club and full-service spa. Contact 917-371-0551.

 

NAMEThe Setai Wall StreetPRICE RANGEFrom $650,000 to $12,995,000
ADDRESS40 Broad StreetSIZE RANGEFrom 545 Sq Ft to 3,500 Sq Ft
TYPEConversionAVG PPSF$1,546
TOTAL UNITS159TAX ABATEMENTNo
DEVELOPERZamir EquitiesAVG COMMON CHARGE$1.28/sf
BROKERSynergyFINISHED BYComplete

Source: Streeteasy, BuzzBuzzHome, TRD, news reports. Data as of late July. List primarily includes Manhattan condo projects that have started sales since Jan. 1, 2010 that have units on market. Projects that started sales since Jan. 1, 2010 that subsequently sold out, have all units in contract or don’t currently have any listings on the market were excluded in most cases. “Price range,” “Size range,” “Avg PPSF (Price Per Square Foot)” and “Common Charge” refer to units currently for sale.