THE CONDO BOOK PROJECT

17 Jane Street Condominium

17 Jane Street, Manhattan, NY 10014

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Overview

Units
6 residential · 7 parking
Subway
3 min walk to 14 St/6 Av 1 2 3 F L M14 St/8 Av A C E L, 3 min
Developers
Edward J. Minskoff Equities, Inc., Olympia & York USA
Principals
Edward J. Minskoff
Average $/sf
$4,411Homes in Schedule A, as first offered
Common charges
$4,532–$12,170 a monthSponsor's first-year estimate in Schedule A, January 1, 2020 - December 31, 2020
Offering price
$105.7 million total

The sponsor of record is Jcm Jane Street Associates LLC, represented by Starr Associates, LLP. The offering plan runs 438 pages. The sponsor has filed 6 amendments, the latest in June 2021. The nearest other condo plan on file is One Jackson Square Condominium, next door.

Plan CD180099 · New · accepted Mar 5, 2019 · AG record ↗

Compare

FigureThis building1601 Washington210 units · 0.6 miaccepted 201910 Greene34 units · 1.2 miaccepted 2018
Common ChargesPer Square Foot / Month$1.98Highest$0.72$0.75
Average Offering PricePer Apartment$15.5MAbove peers$14.82M$8.12M
Average PricePer Square Foot$4,411Highest$3,197$2,834
Property TaxesPer Square Foot / Month$0.90Lowest$1.09$1.39
Average Unit SizeSquare Feet4,315 SFIn line4,637 SF2,867 SF

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Unit mix, closings, budgets, finishes and the team, against 601 Washington and 10 Greene, 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 closed86% of the homes in Schedule A6 of 7
Closing prices vs. Schedule A4 homes: $66,451,250 at closing against $44,650,000 in Schedule A (p. 53)+48.8%
Average closing price4 homes, on their Schedule A square feet$6,209 / SF
Closingsfirst and latest recordedJul 27, 2020 – Dec 21, 2021

Sales recorded with the Department of Finance (ACRIS) through Feb 28, 2023: 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 6 closings
HomeRecordedClosing priceSchedule ADifference
TH-WJul 27, 2020$21,949,375——
4AApr 1, 2021$12,000,000$12,750,000 p. 53−5.9%
4BApr 6, 2021$9,500,000$9,995,000 p. 53−5%
3ASep 30, 2021$11,900,000$12,250,000 p. 53−2.9%
3BDec 21, 2021$33,051,250$9,655,000 p. 53+242.3%
TH-EDec 21, 2021$33,051,250——

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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
Jcm Jane Street Associates LLC
Developers
Edward J. Minskoff Equities, Inc., Olympia & York USA
Principals
Edward J. Minskoff
Tax estimate
Marcus & Pollack LLPPrepared the first-year real estate tax projection

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

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