THE CONDO BOOK PROJECT

165 E. 62nd Street Condominium

165 East 62nd Street, Manhattan, NY 10065

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Overview

Units
10 residential · 10 storage
Subway
2 min walk to Lexington Av/63 St M QLexington Av/59 St 4 5 6 N R W, 3 min
Principals
Sorabh Maheshwari, Tustin Ehrlich
Average $/sf
$2,003Homes in Schedule A, as first offered
Common charges
$1,378–$2,595 a monthSponsor's first-year estimate in Schedule A, January 1 - December 31, 2020
Offering price
$34.2 million total $39.3 million when first offered

The sponsor of record is Churchill E 62nd LLC, represented by Rosenberg & Estis, P.C.. The offering plan runs 282 pages. The sponsor has filed 2 amendments, the latest in October 2020. The nearest other condo plan on file is 140 East 63rd Street/Barbizon/63 Condominium, next door.

Plan CD190257 · New · accepted Feb 19, 2020 · AG record ↗

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FigureThis building1Minuet215 units · 0.5 miaccepted 2020Gramercy North314 units · 1.9 miaccepted 2019
Common ChargesPer Square Foot / Month$1.05In line$1.26$0.53
Average Offering PricePer Apartment$3.37MHighest$2.72M$2.69M
Average PricePer Square Foot$2,003In line$2,026$1,753
Property TaxesPer Square Foot / Month$1.16Above peers$0.91$1.06
Average Unit SizeSquare Feet1,683 SFLarger1,343 SF1,535 SF

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Unit mix, closings, budgets, finishes and the team, against Minuet and Gramercy North, 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 A10 of 10
Closing prices vs. Schedule A10 homes: $31,395,188 at closing against $33,700,000 in Schedule A (p. 33)−6.8%
Average closing price10 homes, on their Schedule A square feet$1,866 / SF
Closingsfirst and latest recordedFeb 24, 2021 – Jul 20, 2021

Sales recorded with the Department of Finance (ACRIS) through Jun 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 10 closings
HomeRecordedClosing priceSchedule ADifference
TH-EFeb 24, 2021$3,991,133$4,250,000 p. 33−6.1%
3EFeb 25, 2021$2,375,000$2,500,000 p. 33−5%
PH-6Feb 25, 2021$4,675,000$5,500,000 p. 33−15%
4WMar 8, 2021$2,425,000$2,600,000 p. 33−6.7%
3WMar 15, 2021$2,179,055$2,550,000 p. 33−14.5%
TH-WApr 5, 2021$4,250,000$4,500,000 p. 33−5.6%
4EApr 7, 2021$2,400,000$2,550,000 p. 33−5.9%
5WApr 7, 2021$2,450,000$2,650,000 p. 33−7.5%
PH-7May 24, 2021$4,000,000$4,000,000 p. 330%
5EJul 20, 2021$2,650,000$2,600,000 p. 33+1.9%

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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
Churchill E 62nd LLC
Principals
Sorabh Maheshwari, Tustin Ehrlich
Tax estimate
Paul J. Korngold of Tuchman, Korngold, Weiss, Liebman & Gelles, LLPPrepared the first-year real estate tax projection
Construction lender
Churchill Real Estate

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

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