THE CONDO BOOK PROJECT

Fifth Avenue

1325 Fifth Avenue And 1330 Fifth Avenue, Manhattan, NY 10029

Overview

Units
150 residential · 13 commercial
Subway
5 min walk to 110 St-Malcolm X Plaza 2 3110 St 6, 7 min
Principals
Joseph A. Tahl, Rodney M. Propp
Average $/sf
$1,123Homes in Schedule A, as first offered
Common charges
$621–$1,598 a monthSponsor's first-year estimate in Schedule A, October 1, 2018 - September 30, 2019
Offering price
$179 million total $159 million when first offered

The sponsor of record is 1325 Fifth Avenue LLC, represented by Belkin Burden Wenig & Goldman LLP. The offering plan runs 590 pages. The sponsor has filed 16 amendments, the latest in July 2026. The nearest other condo plan on file is 1280 Fifth Condominium, 0.1 mi away.

Plan CD170073 · Conversion · accepted Jul 19, 2018 · AG record ↗

Compare

FigureThis building1Coda2138 units · 4.5 miaccepted 2015Residential Section Of 212 West 72nd Street3196 units · 2.2 miaccepted 2020
Common ChargesPer Square Foot / Month$1.08Lowest$1.34$2.10
Average Offering PricePer Apartment$1.07MLowest$1.31M$4.97M
Average PricePer Square Foot$1,123Lowest$1,721$2,664
Property TaxesPer Square Foot / Month$0.60Lowest$1.65$1.31
Average Unit SizeSquare Feet951 SFIn line759 SF1,866 SF

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Unit mix, closings, budgets, finishes and the team, against Coda and Residential Section Of 212 West 72nd Street, 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
1325 Fifth Avenue LLC
Principals
Joseph A. Tahl, Rodney M. Propp
Tax estimate
Tuchman Korngold Weiss Liebman & Gelles, LLPPrepared the first-year real estate tax projection
Construction lender
Signature BankLender on the mortgage and building loan agreement recorded August 2015 in ACRIS; $34 million recorded

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

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