THE CONDO BOOK PROJECT

132-134 West 83rd Street Condominium

132-134 West 83rd Street, Manhattan, NY 10024

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Overview

Units
6 residential
Subway
6 min walk to 86 St 181 St-Museum of Natural History B C, 7 min
Principals
Yiannes Einhorn, Harold Einhorn
Average $/sf
$2,132Homes in Schedule A, as first offered
Common charges
$933–$1,335 a monthSponsor's first-year estimate in Schedule A, July 1, 2018 to June 30, 2019
Offering price
$28.9 million total $29 million when first offered

The sponsor of record is 134 West LLC, represented by Allen, Morris & Troisi LLP. The offering plan runs 237 pages. The sponsor has filed 1 amendment, the latest in December 2018. The nearest other condo plan on file is Fremont Condominium, next door.

Plan CD170298 · New · accepted Sep 11, 2018 · AG record ↗

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FigureThis building1318 East 81st26 units · 1.4 miaccepted 2017424w5237 units · 1.6 miaccepted 2019
Common ChargesPer Square Foot / Month$0.46In line$0.89$0.40
Average Offering PricePer Apartment$4.83MHighest$4.05M$2.29M
Average PricePer Square Foot$2,132Above peers$1,957$1,825
Property TaxesPer Square Foot / Month$1.67Highest$1.31$1.28
Average Unit SizeSquare Feet2,265 SFLarger2,069 SF1,257 SF

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Unit mix, closings, budgets, finishes and the team, against 318 East 81st and 424w52, 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 closed100% of the homes in Schedule A6 of 6
Closing prices vs. Schedule A6 homes: $28,008,700 at closing against $28,975,000 in Schedule A (p. 26)−3.3%
Average closing price6 homes, on their Schedule A square feet$2,061 / SF
Closingsfirst and latest recordedAug 29, 2019 – Sep 12, 2019

Sales recorded with the Department of Finance (ACRIS) through Aug 31, 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 6 closings
HomeRecordedClosing priceSchedule ADifference
1Aug 29, 2019$5,373,591$5,575,000 p. 26−3.6%
3Aug 29, 2019$4,177,734$4,300,000 p. 26−2.8%
6Sep 5, 2019$5,725,000$6,000,000 p. 26−4.6%
2Sep 10, 2019$4,077,896$4,200,000 p. 26−2.9%
4Sep 11, 2019$4,304,479$4,400,000 p. 26−2.2%
5Sep 12, 2019$4,350,000$4,500,000 p. 26−3.3%

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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
134 West LLC
Principals
Yiannes Einhorn, Harold Einhorn
Tax estimate
The Mazursky Group, Inc.Prepared the first-year real estate tax projection
Construction lender
Bank Leumi$14.4 million recorded

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

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