THE CONDO BOOK PROJECT

145 Ludlow Condominium

145 -147 Ludlow Street, Manhattan, NY 10002

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Overview

Units
8 residential · 1 commercial
Subway
3 min walk to Delancey St-Essex St F J M Z2 Av F, 4 min
Principals
Olivier Revol
Average $/sf
$1,960Homes in Schedule A, as first offered
Offering price
$24.9 million total

The sponsor of record is 145 Ludlow LLC, represented by Seiden & Schein, P.C.. The offering plan runs 385 pages. The sponsor has filed 7 amendments, the latest in June 2023. The nearest other condo plan on file is 157 Ludlow Condominium, next door.

Plan CD200191 · New · accepted Jul 21, 2021 · AG record ↗

Compare

FigureThis building1Treetop210 units · 0.3 miaccepted 2022Sixty Six Clinton312 units · 0.2 miaccepted 2022
Common ChargesPer Square Foot / Month$0.66Below peers$0.77$1.76
Average Offering PricePer Apartment$2.9MIn line$3.4M$2.72M
Average PricePer Square Foot$1,960Below peers$2,134$2,112
Average Unit SizeSquare Feet1,482 SFIn line1,592 SF1,289 SF

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Unit mix, closings, budgets, finishes and the team, against Treetop and Sixty Six Clinton, 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 A9 of 9
Closing prices vs. Schedule A9 homes: $22,926,026 at closing against $26,130,000 in Schedule A (p. 55)−12.3%
Average closing price9 homes, on their Schedule A square feet$1,719 / SF
Closingsfirst and latest recordedMay 16, 2022 – Sep 28, 2023

Sales recorded with the Department of Finance (ACRIS) through Aug 31, 2025: 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 9 closings
HomeRecordedClosing priceSchedule ADifference
5AMay 16, 2022$2,141,000$2,125,000 p. 55+0.8%
3AMay 20, 2022$1,824,780$1,925,000 p. 55−5.2%
3BJun 1, 2022$1,665,056$1,895,000 p. 55−12.1%
4BJun 1, 2022$1,775,000$1,945,000 p. 55−8.7%
PHJun 15, 2022$5,350,000$5,495,000 p. 55−2.6%
5BJul 15, 2022$1,825,000$2,050,000 p. 55−11%
2Nov 21, 2022$3,525,000$4,150,000 p. 55−15.1%
4AJun 29, 2023$1,870,191$2,045,000 p. 55−8.5%
1*Sep 28, 2023$2,950,000$4,500,000 p. 55−34.4%

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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
145 Ludlow LLC
Principals
Olivier Revol
Tax estimate
Mazursky Group Inc.Prepared the first-year real estate tax projection
Construction lender
Bank Leumi

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

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