THE CONDO BOOK PROJECT

172 Madison Avenue Condominium

172 Madison Avenue, Manhattan, NY 10016

Compare

Overview

Units
69 residential · 32 storage · 2 commercial
Subway
2 min walk to 33 St 634 St-Herald Sq 4 5 6 B D F L M N Q R W, 6 min
Developer
Tessler Developments
Principals
Yitzchak Tessler
Offering price
$307.2 million total $282.6 million when first offered

The sponsor of record is Madison 33 Owner LLC, represented by Gerstein Strauss & Rinaldi LLP. The offering plan runs 500 pages. The sponsor has filed 22 amendments, the latest in October 2025. The nearest other condo plan on file is Madison 101 Condominium, next door.

Plan CD140345 · New · accepted Mar 24, 2015 · AG record ↗

Compare

FigureThis building135 Xv256 units · 0.9 miaccepted 2012Steiner East Village382 units · 1.3 miaccepted 2016
Average Offering PricePer Apartment$4.1MAbove peers$4.04M$2.62M

Free Account

See the Full Comp

Unit mix, closings, budgets, finishes and the team, against 35 Xv and Steiner East Village, cited to the offering plans. No credit card required.

Create a free account
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 closed96% of the homes in the plan66 of 69
Closingsfirst and latest recordedMay 19, 2017 – Jul 31, 2026

Sales recorded with the Department of Finance (ACRIS) through Aug 31, 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 66 closings
HomeRecordedClosing priceSchedule ADifference
14AMay 19, 2017$3,543,510——
17AMay 24, 2017$3,268,583——
26AMay 25, 2017$5,480,619——
27BMay 25, 2017$3,589,331——
15AMay 26, 2017$3,360,225——
21CMay 26, 2017$1,868,489——
23BMay 30, 2017$3,156,575——
15CJun 1, 2017$1,685,204——
6CJun 2, 2017$1,333,908——
20AJun 5, 2017$3,355,134——
14CJun 6, 2017$1,659,748——
12AJun 8, 2017$3,187,123——
12CJun 8, 2017$1,924,493——
10CJun 13, 2017$1,578,288——
19AJun 15, 2017$3,344,951——
19CJun 20, 2017$1,843,033——
16AJun 21, 2017$3,360,225——
25BJun 27, 2017$3,487,506——
20BJun 28, 2017$3,120,000——
17CJul 6, 2017$1,741,208——
11AJul 10, 2017$3,273,674——
11CJul 12, 2017$1,570,905——
14BJul 12, 2017$2,826,250——
20CJul 20, 2017$1,827,759——
8CJul 27, 2017$1,374,638——
9AAug 1, 2017$3,029,294——
9CAug 2, 2017$1,425,550——
18CAug 7, 2017$1,680,113——
8ASep 6, 2017$3,003,838——
7CSep 19, 2017$1,349,181——
5COct 2, 2017$1,308,451——
21ANov 15, 2017$3,344,678——
6ANov 20, 2017$2,952,925——
22CNov 27, 2017$1,781,938——
26BNov 30, 2017$3,492,598——
18AFeb 20, 2018$3,258,400——
22BMar 26, 2018$3,073,079——
22AApr 30, 2018$3,436,594——
24CJun 12, 2018$2,291,063——
16CJun 26, 2018$1,848,124——
5AAug 1, 2018$2,750,000——
21BAug 15, 2018$2,800,000——
23ASep 27, 2018$3,579,149——
7BOct 31, 2018$2,520,169——
4CNov 14, 2018$1,170,988——
23CDec 17, 2018$1,985,588——
10AJul 10, 2019$2,752,941——
7AAug 5, 2019$2,600,000——
9BApr 3, 2020$2,175,000——
5BMay 7, 2020$2,316,519——
19BMay 15, 2020$2,341,975——
12BNov 19, 2020$2,093,934——
6BMar 19, 2021$1,975,000——
MSNMar 26, 2021$9,697,125——
4BApr 16, 2021$1,934,675——
4AJun 3, 2021$2,240,150——
24BJun 9, 2021$2,596,538——
24ASep 14, 2021$2,790,005——
8BDec 13, 2021$2,119,163——
10BJan 19, 2022$2,285,000——
16BMay 5, 2022$2,250,640——
25ANov 10, 2022$4,083,000——
18BJun 16, 2026$2,100,000——
15BJun 30, 2026$1,950,000——
11BJul 30, 2026$1,810,000——
17BJul 31, 2026$2,013,204——

Pro

Closings are for subscribers

Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.

Subscribe to seeAlready a member? Sign in

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
Madison 33 Owner LLC
Developer
Tessler DevelopmentsReported by 6sqft.com
Principals
Yitzchak Tessler
Tax estimate
Podell, Schwartz, Schecter & Banfield, LLPPrepared the first-year real estate tax projection
Construction lender
Deutsche Bank Trust Company Americas$141.9 million loan stated in the plan

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

Nearby