124-126 West 16th Street Condominium
124-126 West 16th Street, Manhattan, NY 10011
Overview
- Units
- 15 residential · 1 parking
- Subway
- 1 min walk to 14 St/6 Av 1 2 3 F L M18 St 1, 4 min
- Developer
- Einhorn Development Corp.
- Principals
- Yiannes Einhorn, Harold Einhorn, Samuel Globus
- Offering price
- $94 million total $85.3 million when first offered
- Floor plans
- Page 258 of the plan
The sponsor of record is 124 West 16 LLC, represented by Allen, Morris & Troisi LLP. The offering plan runs 317 pages. The sponsor has filed 2 amendments, the latest in January 2021. The nearest other condo plan on file is Valhalla Ii Condominium, next door.
Plan CD190165 · New · accepted Feb 5, 2020 · AG record ↗
Compare
| Figure | This building1 | 199-201 Chrystie214 units · 1.2 miaccepted 2019 | Ritz-Carlton Residences, New York, Nomad At 1185 Broadway316 units · 0.6 miaccepted 2021 |
|---|---|---|---|
| Average Offering PricePer Apartment | $5.69MIn line | $6.77M | $5.5M |
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Unit mix, closings, budgets, finishes and the team, against 199-201 Chrystie and Ritz-Carlton Residences, New York, Nomad At 1185 Broadway, 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.
Closings Pro
| Homes closed87% of the homes in the plan | 13 of 15 |
| Closingsfirst and latest recorded | Oct 13, 2020 – Jan 28, 2021 |
Sales recorded with the Department of Finance (ACRIS) through May 31, 2024: 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
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| 10W | Oct 13, 2020 | $6,996,701 | — | — |
| 6W | Oct 15, 2020 | $6,093,878 | — | — |
| 7W | Oct 23, 2020 | $6,007,114 | — | — |
| 10E | Oct 28, 2020 | $3,755,506 | — | — |
| 5W | Nov 4, 2020 | $5,400,000 | — | — |
| 7E | Nov 5, 2020 | $5,375,000 | — | — |
| 8E | Nov 6, 2020 | $5,672,818 | — | — |
| 8W | Nov 9, 2020 | $5,961,213 | — | — |
| 5E | Nov 16, 2020 | $5,256,863 | — | — |
| 6E | Dec 23, 2020 | $3,200,000 | — | — |
| GAR | Jan 4, 2021 | $2,500,000one deed, 2 homes | — | — |
| PH | Jan 4, 2021 | $2,500,000one deed, 2 homes | — | — |
| 9 | Jan 28, 2021 | $11,390,000 | — | — |
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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
- 124 West 16 LLC
- Developer
- Einhorn Development Corp.
- Principals
- Yiannes Einhorn, Harold Einhorn, Samuel Globus
- Counsel
- Allen, Morris & Troisi LLP
- Tax estimate
- The Mazursky Group, Inc.Prepared the first-year real estate tax projection
- Construction lender
- Midfirst Bank
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- Valhalla Ii Condominiumnext door · 2 units · 1 parking · 2007
- 136 West 17th Street Condominiumsnext door · 7 units · 2003
- 150 West 15th Street Condominiumnext door · 4 units · 2007
- Loft 14 Condominiums, A.K.A. 135 W14 St Condonext door · 10 units · 2006
- Dragon & Phoenix Estate Condominiumnext door · 6 units · 2006
- 101 West 14th Street Condominiumnext door · 44 units · 2020