THE CONDO BOOK PROJECT

1165 Madison Avenue Condominium

1165 Madison Avenue, Manhattan, NY 10028

Compare

Overview

Units
12 residential · 2 commercial
Subway
4 min walk to 86 St 4 5 686 St Q, 9 min
Principals
Michael Naftali
Average $/sf
$3,809Homes in Schedule A, as first offered
Common charges
$3,968–$12,039 a monthSponsor's first-year estimate in Schedule A, Twelve Month Period Commencing July 1, 2023 and Ending June 30, 2024 ("First Year")
Offering price
$221 million total

The sponsor of record is 1165 Madison Ave Owner LLC, represented by Holland & Knight LLP. The offering plan runs 545 pages. The sponsor has filed 3 amendments, the latest in November 2025. The nearest other condo plan on file is 60 East 86th Street Condominium, next door.

Plan CD210058 · New · accepted Sep 21, 2021 · AG record ↗

Compare

FigureThis building1The Benson217 units · 0.3 miaccepted 2020140 West 81st36 units · 0.9 miaccepted 2022
Common ChargesPer Square Foot / Month$1.49Lowest$1.78$2.62
Average Offering PricePer Apartment$18.38MHighest$14.67M$8.6M
Average PricePer Square Foot$3,809Above peers$3,652$2,406
Property TaxesPer Square Foot / Month$0.77Lowest$1.40$1.49
Average Unit SizeSquare Feet4,825 SFLargest4,016 SF3,110 SF

Free Account

See the Full Comp

Unit mix, closings, budgets, finishes and the team, against The Benson and 140 West 81st, cited to the offering plans. No credit card required.

Create a free account
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 closed100% of the homes in Schedule A12 of 12
Closing prices vs. Schedule A7 homes: $156,984,269 at closing against $122,575,000 in Schedule A (p. 84)+28.1%
Average closing price7 homes, on their Schedule A square feet$5,339 / SF
Closingsfirst and latest recordedMar 27, 2023 – Jan 29, 2026

Sales recorded with the Department of Finance (ACRIS) through Feb 28, 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 13 closings
HomeRecordedClosing priceSchedule ADifference
PHCMar 27, 2023$67,879,875$39,650,000 p. 84+71.2%
DUPLEApr 17, 2023$16,485,113——
5SApr 25, 2023$10,973,063$10,500,000 p. 84+4.5%
7THFLMay 8, 2023$19,139,063——
3SMay 9, 2023$8,803,969$8,525,000 p. 84+3.3%
4SMay 9, 2023$9,748,163$9,450,000 p. 84+3.2%
9THFLMay 18, 2023$21,946,125——
8THFLMay 23, 2023$19,088,025——
PHBMay 26, 2023$25,467,713$21,500,000 p. 84+18.5%
PHAJun 29, 2023$25,161,488$24,000,000 p. 84+4.8%
3NJul 11, 2023$8,950,000$8,950,000 p. 840%
COMMAJan 29, 2026$4,915,663——
COMMBJan 29, 2026$7,834,337——

Pro

Closings are for subscribers

Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.

Subscribe to seeAlready a member? Sign in

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
1165 Madison Ave Owner LLC
Principals
Michael Naftali
Tax estimate
Goldberg Weprin Finkel Goldstein LLPPrepared the first-year real estate tax projection
Construction lender
Bank Hapoalim$103.1 million recorded

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

Nearby