THE CONDO BOOK PROJECT

108-110 Duane Street Condominium

108-110 Duane Street, Manhattan, NY 10007

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Overview

Units
9 residential · 2 storage · 2 commercial
Subway
2 min walk to Chambers St/WTC/Park Place/Cortlandt St 2 3 A C E R WChambers St 1 2 3, 4 min
Principals
Michael Maidan
Offering price
$33.5 million total $28.9 million when first offered

The sponsor of record is 108-110 Duane, LLC, represented by Phyllis Marie Kamysek, Pllc. The offering plan runs 351 pages. The sponsor has filed 7 amendments, the latest in October 2017. The nearest other condo plan on file is 66 Reade Condominium, next door.

Plan CD100198 · Conversion · accepted May 20, 2011 · AG record ↗

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FigureThis building17 Harrison212 units · 0.3 miaccepted 2013Cast Iron House313 units · 0.2 miaccepted 2014
Average Offering PricePer Apartment$3.21MLowest$6.55M$7.95M

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Unit mix, closings, budgets, finishes and the team, against 7 Harrison and Cast Iron House, 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.

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
108-110 Duane, LLC
Principals
Michael Maidan
Tax estimate
The Mazursky Group, Inc.Prepared the first-year real estate tax projection
Construction lender
CitibankLender on the mortgage and building loan agreement recorded April 2006 in ACRIS; $8.9 million recorded

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

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