THE CONDO BOOK PROJECT

165 Lexington Avenue Condominium

165 Lexington Avenue, Manhattan, NY 10016

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Overview

Units
43 residential · 27 storage · 4 commercial
Subway
3 min walk to 33 St 628 St 6, 4 min
Developer
Riverbrook Equities
Principals
Menahem Chukroon, Guy Hochman, Steven Mendel
Average $/sf
$2,015Homes in Schedule A, as first offered
Common charges
$407–$1,583 a monthSponsor's first-year estimate in Schedule A, July 1, 2021 - June 30, 2022

The sponsor of record is 165 Lexington Partners LLC, represented by Marans Newman Tsolis & Nazinitsky LLC. The offering plan runs 412 pages. The sponsor has filed 4 amendments, the latest in April 2023. The nearest other condo plan on file is 132 East 30th Street Condominium, next door.

Plan CD200066 · New · accepted Jan 26, 2021 · AG record ↗

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FigureThis building1Graydon Chelsea230 units · 0.7 miaccepted 2020Hxh Residences360 units · 1.2 miaccepted 2021
Common ChargesPer Square Foot / Month$0.97Lowest$1.93$1.16
Average Offering PricePer Apartment$1.73MBelow peers$2.19M$1.75M
Average PricePer Square Foot$2,015In line$2,005$2,123
Property TaxesPer Square Foot / Month$1.32In line$2.25$1.13
Average Unit SizeSquare Feet858 SFIn line1,093 SF824 SF

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Unit mix, closings, budgets, finishes and the team, against Graydon Chelsea and Hxh Residences, 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 A43 of 43
Closing prices vs. Schedule A43 homes: $67,663,025 at closing against $74,315,000 in Schedule A (p. 48, p. 49)−9%
Average closing price43 homes, on their Schedule A square feet$1,834 / SF
Closingsfirst and latest recordedAug 1, 2022 – Jun 25, 2025

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 43 closings
HomeRecordedClosing priceSchedule ADifference
4AAug 1, 2022$1,367,364$1,355,000 p. 48+0.9%
6BAug 1, 2022$1,438,003$1,425,000 p. 48+0.9%
6CAug 1, 2022$2,160,000$2,350,000 p. 48−8.1%
3CAug 4, 2022$765,000$825,000 p. 48−7.3%
4BAug 5, 2022$1,350,000$1,350,000 p. 480%
3DAug 9, 2022$1,043,706$1,395,000 p. 48−25.2%
5DAug 9, 2022$1,405,000$1,455,000 p. 48−3.4%
2BAug 12, 2022$775,000$800,000 p. 48−3.1%
6DAug 16, 2022$1,323,725$1,530,000 p. 48−13.5%
8AAug 18, 2022$2,125,000$2,125,000 p. 480%
8CAug 23, 2022$1,495,000$1,590,000 p. 48−6%
4CAug 25, 2022$753,505$850,000 p. 48−11.4%
5CSep 1, 2022$875,000$875,000 p. 480%
5ESep 8, 2022$1,285,000$1,500,000 p. 48−14.3%
5BSep 13, 2022$1,330,000$1,375,000 p. 48−3.3%
3FOct 6, 2022$1,250,000$1,395,000 p. 48−10.4%
7COct 14, 2022$2,200,000$2,400,000 p. 48−8.3%
3BNov 10, 2022$1,300,000$1,325,000 p. 48−1.9%
7ANov 18, 2022$1,389,911$1,450,000 p. 48−4.1%
3ADec 15, 2022$1,335,000$1,335,000 p. 480%
5ADec 20, 2022$1,369,546$1,390,000 p. 48−1.5%
7BDec 22, 2022$1,420,000$1,450,000 p. 48−2.1%
8BDec 29, 2022$2,525,000$2,690,000 p. 48−6.1%
9CMar 15, 2023$1,400,094$1,575,000 p. 49−11.1%
8DMar 31, 2023$1,275,000$1,545,000 p. 48−17.5%
11AApr 17, 2023$3,500,000$3,565,000 p. 49−1.8%
6AApr 18, 2023$1,415,000$1,420,000 p. 48−0.4%
4EApr 19, 2023$1,325,000$1,475,000 p. 48−10.2%
3EMay 12, 2023$1,360,000$1,495,000 p. 48−9%
10AJun 2, 2023$2,525,000$2,595,000 p. 49−2.7%
9AAug 7, 2023$2,700,000$2,850,000 p. 48−5.3%
6EOct 19, 2023$1,260,000$1,485,000 p. 48−15.2%
4DFeb 21, 2024$1,165,000$1,425,000 p. 48−18.2%
5FFeb 29, 2024$1,150,000$1,455,000 p. 48−21%
4FMar 28, 2024$1,162,842$1,425,000 p. 48−18.4%
10CMay 13, 2024$1,400,000$1,605,000 p. 49−12.8%
7DJun 20, 2024$1,413,329$1,560,000 p. 48−9.4%
7EJul 22, 2024$1,250,000$1,515,000 p. 48−17.5%
11BOct 7, 2024$2,912,000$3,345,000 p. 49−12.9%
11CNov 7, 2024$1,429,000$1,635,000 p. 49−12.6%
9BNov 25, 2024$2,130,000$2,595,000 p. 48−17.9%
1ADec 17, 2024$2,420,000$2,950,000 p. 48−18%
10BJun 25, 2025$2,190,000$2,565,000 p. 49−14.6%

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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
165 Lexington Partners LLC
Developer
Riverbrook Equities
Principals
Menahem Chukroon, Guy Hochman, Steven Mendel
Tax estimate
Tuchman, Korngold, Weiss, Liebman & Lindemann, LLPPrepared the first-year real estate tax projection
Construction lender
S3 CapitalLender on the mortgage and building loan agreement recorded October 2018 in ACRIS; $57.9 million recorded

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

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