A clear path to clearing the last 18 sponsor units at Bloom on Forty Fifth.
18 unsold sponsor units in a 92-unit Hell's Kitchen condo — aggregate ask $22,129,000. Benchmarks, velocity model, and the incentive stack to clear by year-end.
The thesis in four lines
$1,481–$1,931/SF suggested vs. LightSquare $1,679 closed avg, Charlie West $1,641 avg. Broad cuts not warranted.
Post-Unit 205: reduce 5–8% and drop co-broke to 3%. Net economics improve at lower headline price.
Bloom at 1 year vs. comp-set standard of 2 years. Upgrade unlocks objection-free traffic on 1BR / 2BR.
Above 3% standard. Real traffic driver from the buy-side. No change recommended.
Where Bloom sits today
18 sponsor units across studios, 1BRs and 2BRs — priced at or below comps on a $/SF basis. Broad cuts are not warranted.
Bloom vs. the comp set
Live Marketproof PRO data, May 2026. Toggle metrics to see where Bloom over- or under-indexes.
Active new-development condos, Hell's Kitchen
Five direct competitors plus the subject — each links to its StreetEasy building page.
Bloom on Forty Fifth
Subject building. 4% co-broke on 1BR/2BR; post-205 studios drop to 3%.
The West Residence Club
12-story between 10th & 11th. 30,000 SF amenities incl. rooftop pool. Closest studio competitor.
LightSquare
Boutique 29-unit, 1 block away. Recent: #601 $1,479,000 (Apr '25), #405 $1,999,000 (Feb '25).
Charlie West
Waterfront at 10th & 43rd. 8 active listings May 2026. Historical avg $1,978/SF.
VITA
NYC's largest Passive House condo. Launched May 2025. Emerging 1BR/2BR competition.
Linden Lane
32-unit boutique. Humanscale collab. Upper-end positioning, above Bloom.
The 18 sponsor units, unit by unit
Each unit links to its StreetEasy listing. Suggested prices reflect the repricing thesis.
| Unit | SF | Suggested | $/SF | CC/mo | Tax/mo | Exposure | Status |
|---|---|---|---|---|---|---|---|
| #503 | 439 | $650,000 | $1,481 | $687 | $885 | N / 45th | Modeled |
| #603 | 439 | $695,000 | $1,583 | $687 | $885 | N / 45th | Listed $695,000 |
| #605 | 445 | $775,000 | $1,742 | $699 | $885 | N / 45th | Not listed |
| #606 | 445 | $780,000 | $1,753 | $699 | $885 | N / 45th | Not listed |
| #706 | 445 | $700,000 | $1,573 | $699 | $885 | N / 45th | Not listed |
| #505 | 445 | $775,000 | $1,742 | $699 | $925 | N / 45th | Modeled |
| #506 | 445 | $775,000 | $1,742 | $699 | $885 | N / 45th | Not listed |
| Unit | SF | Suggested | $/SF | CC/mo | Tax/mo | Exposure | Status |
|---|---|---|---|---|---|---|---|
| #621 | 777 | $1,095,000 | $1,409 | $1,220 | $1,616 | S / Crt N | Listed $1,095,000 |
| #626 | 633 | $1,025,000 | $1,619 | $995 | $1,319 | S / 44th | Listed $1,025,000 |
| #707 | 640 | $1,095,000 | $1,711 | $1,007 | $1,283 | N / 45th | Modeled |
| #625 | 669 | $1,145,000 | $1,712 | $1,054 | $1,388 | S / 44th | Not listed |
| #201 | 777 | $1,295,000 | $1,667 | $1,303 | $1,712 | S / Crt | Not listed |
| Unit | SF | Suggested | $/SF | CC/mo | Tax/mo | Exposure | Status |
|---|---|---|---|---|---|---|---|
| #610 | 992 | $1,595,000 | $1,608 | $1,563 | $1,969 | S / Crt | Listed $1,595,000 |
| #210 | 1137 | $1,799,000 | $1,582 | $1,895 | $2,390 | NEWS / 10th | Listed $1,799,000 |
| #211 | 1033 | $1,850,000 | $1,791 | $1,753 | $2,314 | S / Crt | Listed $1,850,000 |
| #726 | 1113 | $1,985,000 | $1,783 | $1,753 | $2,213 | SE / 44th | Listed $1,985,000 |
| #229 | 1137 | $2,100,000 | $1,847 | $1,895 | $2,390 | 10th E-S | Sales Office |
| #729 | 1137 | $2,150,000 | $1,891 | $1,895 | $2,390 | 10th E-S | Listed $2,150,000 |
Find Bloom's pickup point
Drag the lever. The model estimates how much Bloom accelerates per point of price aggression — and what it costs in proceeds.
At -4%, Bloom moves 2.61/mo vs. 2.7/mo needed for EOY clearance. The West runs 2.0/mo.
Toggle the levers driving absorption
Each lever shifts projected sell-through against the base trajectory. Goal: all 18 units cleared by year-end.
Three-month sprint, year-end close
Six moves — first three execute now, the rest held in reserve for units that stall past 90 days.
| Building | Incentive | Position vs. Bloom | Visual |
|---|---|---|---|
| Bloom (current)Subject | 1 Year Free | Baseline | |
| The West Residence Club | 2 Years Free | More aggressive | |
| LightSquare | 2 Years Free | More aggressive | |
| Charlie West | 1–2 Years | At parity or more | |
| VITA | 2 Years Free | More aggressive | |
| Linden Lane | 2 Years Free | More aggressive |
Studio Reprice — Post Unit 205 Close
Reduce studio asks 5–8% (target $615,000–$735,000). Drop co-broke from 4% to 3% on all studios. Bloom remains well below The West ($910,000) and Charlie West ($805,000) — gap preserved while improving net economics.
Common Charges — Upgrade to 2 Years
Currently 1 year (market floor). LightSquare, The West, VITA, Linden Lane all at 2 years. Match the mid-market standard on 1BR/2BR; reserve 3-year offer for any unit 90+ days without contract.
Maintain 4% Co-Broke on 1BR / 2BR
4% is above the 3% standard and is a genuine differentiator for buyer-side brokers. Keep in place on non-studio inventory.
Mansion Tax Contribution — 2BR over $1M
All remaining 2BRs trigger NY mansion tax (≥1%). Sponsor contribution of 1% on units >$1M is a high-perceived-value concession with modest sponsor cost.
Preferred Lender Rate Buy-Down
Partner with a preferred lender for a 2-1 buydown or permanent rate buy-down. Effective monthly carry reduction outweighs the equivalent price cut for financed buyers.
Studio Package — Investor Bulk Deal
Package 4–7 remaining studios at portfolio pricing for a single 1031 or investor LLC buyer. Single-close efficiency, clears the floor, removes overhang from 1BR sell-through.
From May to year-end
Four phases. The first 90 days do the work; the back half holds the line on price.
Parity moves
- Upgrade common charges to 2 years on all 1BR/2BR — match comp set floor.
- Maintain 4% co-broke on non-studio inventory; brief broker community.
- Refresh StreetEasy creative, photography refresh on listed units.
Studio reprice on Unit 205 close
- Reduce 7 studio asks by 5–8% (target $615,000–$735,000).
- Drop studio co-broke from 4% to 3%; protects sponsor net.
- Re-list with updated pricing within 48 hours of 205 closing.
Selective sponsor concessions
- Mansion tax contribution on 2BRs > $1M (six units eligible).
- Launch preferred lender 2-1 buydown program.
- 30-day review: any unit 90+ days without contract → 3-yr CC offer.
Clear the floor by year-end
- If 4+ studios remain, package for single investor / 1031 buyer.
- Selective price tests on stale 1BRs; preserve 2BR pricing.
- Target: all 18 sponsor units in contract or closed by Dec 31.