THE CONDO BOOK PROJECT

1059 Third Avenue Condominium

1059 Third Avenue, Manhattan, NY 10065

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Overview

Units
38 residential · 1 commercial
Subway
1 min walk to Lexington Av/63 St M QLexington Av/59 St 4 5 6 N R W, 3 min
Developers
Beagle NYC Inc., Hodge NYC Inc., Real Estate Inverlad Development LLC, Second Avenue Investors LLC, Third Palm Capital LLC
Principals
Christopher Kelsey, Chaney B. Gordy, Jr.
Average $/sf
$2,768Homes in Schedule A, as first offered
Common charges
$1,450–$4,918 a monthSponsor's first-year estimate in Schedule A, Beginning February 1, 2021 Through January 31, 2022
Offering price
$190.4 million total

The sponsor of record is 63rd & 3rd NYC LLC, represented by Ganfer & Shore, LLP. The offering plan runs 569 pages. The sponsor has filed 12 amendments, the latest in July 2025. The nearest other condo plan on file is 200 E 62 Condominium, next door.

Plan CD180146 · New · accepted Dec 17, 2020 · AG record ↗

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FigureThis building1378 West End258 units · 1.6 miaccepted 2020The Harper368 units · 1.2 miaccepted 2021
Common ChargesPer Square Foot / Month$1.38Highest$1.19$0.88
Average Offering PricePer Apartment$5.41MIn line$8.28M$3.54M
Average PricePer Square Foot$2,768In line$2,844$2,110
Property TaxesPer Square Foot / Month$2.27Highest$1.40$1.78
Average Unit SizeSquare Feet1,932 SFIn line2,913 SF1,678 SF

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Unit mix, closings, budgets, finishes and the team, against 378 West End and The Harper, 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 closed53% of the homes in Schedule A20 of 38
Closing prices vs. Schedule A16 homes: $97,958,588 at closing against $104,362,500 in Schedule A (p. 55, p. 56)−6.1%
Average closing price18 homes, on their Schedule A square feet$2,854 / SF
Closingsfirst and latest recordedMay 11, 2022 – Nov 7, 2023

Sales recorded with the Department of Finance (ACRIS) through Apr 30, 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 (or, for a home the plan listed without a price, the amendment that priced it); 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 20 closings
HomeRecordedClosing priceSchedule ADifference
31FLMay 11, 2022$11,153,000$11,850,000 Amendment 4, p. 6−5.9%
33FLMay 12, 2022$12,500,000$13,100,000 Amendment 4, p. 6−4.6%
15AMay 17, 2022$3,100,000$3,245,000 p. 55−4.5%
30FLMay 17, 2022$10,635,000$11,600,000 Amendment 4, p. 6−8.3%
32FLJun 6, 2022$11,400,000$12,200,000 Amendment 4, p. 6−6.6%
18AJun 9, 2022$3,300,000$3,575,000 p. 55−7.7%
19AJun 16, 2022$3,404,000$3,603,000 p. 55−5.5%
17BJun 22, 2022$3,750,000$3,880,000 Amendment 4, p. 5−3.4%
21AJun 23, 2022$3,900,000$3,900,000 Amendment 4, p. 50%
19BJun 27, 2022$4,300,000$4,500,000 Amendment 4, p. 5−4.4%
27FLJun 28, 2022$8,100,000$8,350,000 Amendment 4, p. 6−3%
PHJul 13, 2022$14,000,000——
17AJul 18, 2022$3,253,000$3,548,000 p. 55−8.3%
14AAug 1, 2022$3,300,000$3,381,000 Amendment 4, p. 5−2.4%
12COct 28, 2022$1,988,588$2,257,500 Amendment 4, p. 5−11.9%
34FLNov 3, 2022$11,775,000$13,000,000 Amendment 4, p. 6−9.4%
28FLNov 17, 2022$16,849,875one deed, 2 homes$9,600,000 Amendment 4, p. 6—
29FLNov 17, 2022$16,849,875one deed, 2 homes$8,500,000 Amendment 4, p. 6—
14BAug 24, 2023$2,100,000$2,373,000 Amendment 4, p. 5−11.5%
16ANov 7, 2023$3,300,000——

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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
63rd & 3rd NYC LLC
Developers
Beagle NYC Inc., Hodge NYC Inc., Real Estate Inverlad Development LLC, Second Avenue Investors LLC, Third Palm Capital LLC
Principals
Christopher Kelsey, Chaney B. Gordy, Jr.
Tax estimate
Marcus & Pollack LLPPrepared the first-year real estate tax projection

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

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