Ritz-Carlton Residences, New York, Nomad At 1185 Broadway Condominium
1185 Broadway, Manhattan, NY 10001
Overview
- Units
- 16 residential · 1 commercial
- Subway
- 1 min walk to 28 St R W34 St-Herald Sq 4 5 6 B D F L M N Q R W, 5 min
- Developer
- Flag Luxury Group, LLC
- Principals
- Adam Raboy, Dayssi Olarte De Kanavos, Paul Kanavos
- Average $/sf
- $3,999Homes in Schedule A, as first offered
- Common charges
- $2,153–$4,367 a monthSponsor's first-year estimate in Schedule A, October 1, 2021 - September 30, 2022
- Offering price
- $88 million total
- Floor plans
- Pages 364–366 of the plan
The sponsor of record is Rp1185 LLC, represented by Kramer Levin Naftalis & Frankel, LLP. The offering plan runs 520 pages. The sponsor has filed 6 amendments, the latest in June 2023. The nearest other condo plan on file is Centurian Condominium, next door.
Plan CD200264 · New · accepted May 21, 2021 · AG record ↗
Compare
| Figure | This building1 | Everly West Soho214 units · 1.8 miaccepted 2020 | 532 West 20th39 units · 0.9 miaccepted 2020 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $2.36In line | $0.83 | $2.49 |
| Average Offering PricePer Apartment | $5.5MIn line | $3.86M | $8.14M |
| Average PricePer Square Foot | $3,999Highest | $2,638 | $3,073 |
| Property TaxesPer Square Foot / Month | $1.19Below peers | $1.20 | $1.88 |
| Average Unit SizeSquare Feet | 1,375 SFSmaller | 1,462 SF | 2,649 SF |
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Unit mix, closings, budgets, finishes and the team, against Everly West Soho and 532 West 20th, cited to the offering plans. No credit card required.
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- 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.
Units & Prices
Closings Pro
| Homes closed100% of the homes in Schedule A | 16 of 16 |
| Closing prices vs. Schedule A8 homes: $38,872,885 at closing against $46,300,000 in Schedule A (p. 91) | −16% |
| Average closing price8 homes, on their Schedule A square feet | $3,535 / SF |
| Closingsfirst and latest recorded | Dec 12, 2022 – Jul 19, 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; 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 16 closings
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| PH40A | Dec 12, 2022 | $6,241,860 | $7,350,000 p. 91 | −15.1% |
| PH41C | Dec 13, 2022 | $3,612,193 | $4,400,000 p. 91 | −17.9% |
| PH41D | Dec 20, 2022 | $6,401,864 | $7,575,000 p. 91 | −15.5% |
| PH40D | Dec 29, 2022 | $6,250,094 | $7,050,000 p. 91 | −11.3% |
| PH40C | Jan 3, 2023 | $3,497,243 | $4,000,000 p. 91 | −12.6% |
| PH41A | Jan 12, 2023 | $6,441,860 | $8,000,000 p. 91 | −19.5% |
| PH41B | Jan 12, 2023 | $3,316,471 | $4,125,000 p. 91 | −19.6% |
| PH42B | Jan 27, 2023 | $3,740,071 | — | — |
| PH40B | Feb 22, 2023 | $3,111,300 | $3,800,000 p. 91 | −18.1% |
| PH42A | Apr 17, 2023 | $7,353,734 | — | — |
| PH42D | Apr 18, 2023 | $7,367,420 | — | — |
| PH42C | May 5, 2023 | $3,928,577 | — | — |
| PH43A | May 30, 2023 | $8,235,256 | — | — |
| PH43C | Jun 8, 2023 | $4,353,996 | — | — |
| PH43D | Jun 21, 2023 | $7,898,722 | — | — |
| PH43B | Jul 19, 2023 | $4,121,468 | — | — |
Pro
Closings are for subscribers
Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.
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
- Rp1185 LLC
- Developer
- Flag Luxury Group, LLC
- Principals
- Adam Raboy, Dayssi Olarte De Kanavos, Paul Kanavos
- Tax estimate
- Marcus & Pollack LLPPrepared the first-year real estate tax projection
- Construction lenders
- Acm Rem, Atalaya Fund VI Reit Inc., Pacific Western Bank, EB5 Capital-Jobs Fund 22, LP$480 million loan stated in the plan
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- Centurian Condominiumnext door · 39 units · 2017
- Pell Building Condominiumnext door · 8 units · 2012
- 842 Sixth Avenue Condominiumnext door · 94 units · 2026
- Nomanext door · 55 units · 2016
- Remynext door · 44 units · 2006
- 262 Fifth Condominiumnext door · 26 units · 23 parking · 2024