THE CONDO BOOK PROJECT

Aurum Condominium

165&171 W 131 St 2231 2239 2243 A.C.P Jr Blvd, Manhattan, NY 10027

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Overview

Units
115 residential · 1 parking · 2 commercial
Subway
6 min walk to 135 St 2 3135 St B C, 9 min
Principals
Geoffroi Flournoy, Meredith Marshall, Steven C. Smith
Offering price
$88.1 million total $76 million when first offered

The sponsor of record is Lafayette Development, LLC, represented by Hirschen Singer & Epstein LLP. The offering plan runs 434 pages. The sponsor has filed 19 amendments, the latest in May 2018. The nearest other condo plan on file is Ellison Condominium, next door.

Plan CD150135 · New · accepted Nov 18, 2015 · AG record ↗

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FigureThis building1300 West 122nd2127 units · 0.5 miaccepted 2015Rennie3134 units · 0.3 miaccepted 2018
Average Offering PricePer Apartment$661,302Lowest$1.25M$807,537

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Unit mix, closings, budgets, finishes and the team, against 300 West 122nd and Rennie, 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 closed99% of the homes in the plan114 of 115
Closingsfirst and latest recordedOct 31, 2016 – May 7, 2019

Sales recorded with the Department of Finance (ACRIS) through Sep 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 114 closings
HomeRecordedClosing priceSchedule ADifference
PH13Oct 31, 2016$1,117,633——
613Nov 10, 2016$574,880——
PH11Nov 10, 2016$999,343——
PH18Nov 10, 2016$703,661——
PH9Nov 14, 2016$1,079,910——
603Nov 16, 2016$710,739——
610Nov 16, 2016$1,093,601——
617Nov 16, 2016$699,538——
601Nov 17, 2016$680,191——
PH16Nov 18, 2016$1,186,261——
604Nov 23, 2016$705,647——
408Nov 28, 2016$700,556——
621Nov 28, 2016$966,319——
618Nov 30, 2016$720,412——
316Dec 2, 2016$662,881——
407Dec 2, 2016$1,052,871——
411Dec 2, 2016$1,013,159——
606Dec 5, 2016$686,810——
504Dec 6, 2016$699,538——
608Dec 9, 2016$731,104——
PH4Dec 9, 2016$1,015,195——
410Dec 12, 2016$1,030,569——
418Dec 13, 2016$709,717——
518Dec 13, 2016$694,447——
520Dec 13, 2016$690,374——
519Dec 14, 2016$810,018——
303Dec 15, 2016$706,666——
311Dec 15, 2016$921,516——
PH21Dec 15, 2016$1,015,195——
508Dec 16, 2016$692,410——
PH19Dec 16, 2016$476,580——
403Dec 19, 2016$700,556——
405Dec 19, 2016$664,917——
406Dec 19, 2016$684,264——
419Dec 19, 2016$778,961——
503Dec 20, 2016$696,483——
507Dec 20, 2016$1,001,958——
404Dec 21, 2016$668,990——
PH8Dec 21, 2016$1,525,339——
505Dec 22, 2016$693,428——
PH3Dec 22, 2016$1,099,710——
517Dec 23, 2016$684,363——
616Dec 27, 2016$700,556——
620Dec 27, 2016$692,410——
417Dec 28, 2016$663,899——
415Jan 4, 2017$953,082——
PH20Jan 4, 2017$713,793——
203Jan 5, 2017$656,771——
PH7Jan 9, 2017$1,183,411——
305Jan 10, 2017$702,593——
506Jan 12, 2017$702,593——
PH5Jan 13, 2017$1,170,988——
413Jan 18, 2017$558,001——
416Jan 20, 2017$676,118——
313Jan 25, 2017$533,563——
605Jan 25, 2017$705,647——
314Jan 26, 2017$632,000——
511Jan 27, 2017$1,015,195——
319Jan 30, 2017$770,815——
PH14Jan 31, 2017$1,120,075——
509Feb 3, 2017$1,046,761——
PH12Feb 6, 2017$801,363——
409Feb 8, 2017$1,009,086——
619Feb 14, 2017$831,401——
514Feb 16, 2017$699,538——
414Feb 17, 2017$680,191——
510Feb 21, 2017$1,093,601——
201Mar 1, 2017$705,647——
PH15Mar 2, 2017$1,155,612——
208Mar 7, 2017$995,849——
306Mar 7, 2017$651,680——
513Mar 13, 2017$558,001——
516Mar 22, 2017$709,720——
609Mar 27, 2017$1,050,325——
206Mar 28, 2017$345,200——
307Apr 10, 2017$997,000——
PH6Apr 14, 2017$1,446,933——
205Apr 17, 2017$1,006,031——
310May 3, 2017$1,069,163——
PH1May 3, 2017$1,102,765——
309May 9, 2017$981,000——
515May 26, 2017$964,724——
PH17Jun 5, 2017$929,000——
614Jun 9, 2017$707,684——
607Jun 12, 2017$1,081,382——
611Jun 13, 2017$1,035,000——
302Jul 7, 2017$887,021——
PH10Jul 11, 2017$1,140,000——
PH2Jul 13, 2017$1,225,000——
615Aug 16, 2017$996,000——
412Sep 15, 2017$331,500——
315Sep 20, 2017$967,751——
312Sep 26, 2017$331,500——
421Sep 26, 2017$361,600——
501Sep 26, 2017$348,300——
304Sep 29, 2017$348,300——
204Oct 5, 2017$348,300——
612Oct 10, 2017$331,500——
521Oct 13, 2017$361,600——
602Oct 17, 2017$364,900——
420Oct 27, 2017$353,600——
512Oct 27, 2017$331,500——
502Nov 13, 2017$364,900——
320Nov 20, 2017$353,600——
207Nov 21, 2017$336,100——
321Dec 12, 2017$361,600——
308Dec 14, 2017$345,200——
402Feb 23, 2018$364,900——
202Apr 6, 2018$348,300——
209May 15, 2018$360,900——
401Jul 25, 2018$348,300——
318Aug 17, 2018$358,000——
301Sep 14, 2018$348,300——
317May 7, 2019$581,416——

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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
Lafayette Development, LLC
Principals
Geoffroi Flournoy, Meredith Marshall, Steven C. Smith
Tax estimate
Ben Rottenstein Associates Inc.Prepared the first-year real estate tax projection
Construction lender
Goldman Sachs Bank

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

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