THE CONDO BOOK PROJECT

Cereza

1790-1792 Third Avenue, Manhattan, NY 10029

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Overview

Units
52 residential · 2 commercial
Subway
5 min walk to 96 St 6103 St 6, 5 min
Principals
Udi Gilboa, Yoram Avner
Average $/sf
$1,434Homes in Schedule A, as first offered
Common charges
$663–$2,008 a monthSponsor's first-year estimate in Schedule A, January 1, 2018 to December 31, 2018
Offering price
$46.3 million total $48.2 million when first offered

The sponsor of record is 1790-1792 Third Avenue LLC, represented by D'Agostino, Levine, Landesman & Lederman, LLP. The offering plan runs 497 pages. The sponsor has filed 11 amendments, the latest in August 2022. The nearest other condo plan on file is East 100th Condos Association, next door.

Plan CD170050 · New · accepted Aug 21, 2017 · AG record ↗

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FigureThis building1Vitre248 units · 0.3 miaccepted 20161399 Park372 units · 0.3 miaccepted 2016
Common ChargesPer Square Foot / Month$1.65Highest$1.10$1.21
Average Offering PricePer Apartment$895,077Lowest$1.79M$1.46M
Average PricePer Square Foot$1,434In line$1,650$1,274
Property TaxesPer Square Foot / Month$0.48Lowest$0.77$0.66
Average Unit SizeSquare Feet624 SFSmallest1,088 SF1,144 SF

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Unit mix, closings, budgets, finishes and the team, against Vitre and 1399 Park, 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 A52 of 52
Closing prices vs. Schedule A52 homes: $38,652,010 at closing against $46,544,000 in Schedule A (p. 65, p. 66)−17%
Average closing price52 homes, on their Schedule A square feet$1,191 / SF
Closingsfirst and latest recordedAug 6, 2018 – Dec 23, 2024

Sales recorded with the Department of Finance (ACRIS) through Jul 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 52 closings
HomeRecordedClosing priceSchedule ADifference
204Aug 6, 2018$662,626$675,000 p. 65−1.8%
304Aug 6, 2018$682,177$695,000 p. 65−1.8%
305Aug 6, 2018$664,663$685,000 p. 65−3%
401Aug 7, 2018$767,251$865,000 p. 65−11.3%
404Aug 7, 2018$701,727$715,000 p. 65−1.9%
502Aug 7, 2018$791,129$790,000 p. 65+0.1%
405Aug 8, 2018$674,845$695,000 p. 65−2.9%
503Aug 9, 2018$903,951$895,000 p. 65+1%
1203Aug 9, 2018$868,313$895,000 p. 66−3%
1101Aug 10, 2018$749,177$770,000 p. 65−2.7%
1201Aug 10, 2018$705,393$785,000 p. 66−10.1%
1204Aug 10, 2018$840,056$825,000 p. 66+1.8%
PH2Aug 13, 2018$1,530,175$1,750,000 p. 66−12.6%
402Aug 14, 2018$751,214$770,000 p. 65−2.4%
301Aug 15, 2018$818,418$825,000 p. 65−0.8%
1001Aug 15, 2018$743,577$750,000 p. 65−0.9%
1104Aug 16, 2018$807,218$810,000 p. 65−0.3%
904Aug 23, 2018$1,224,700$1,350,000 p. 65−9.3%
1103Aug 24, 2018$863,221$880,000 p. 65−1.9%
505Oct 9, 2018$583,203$705,000 p. 65−17.3%
1004Oct 9, 2018$899,899$899,000 p. 65+0.1%
605Feb 28, 2019$527,000$730,000 p. 65−27.8%
901Mar 6, 2019$802,750$995,000 p. 65−19.3%
205Mar 26, 2019$511,925$660,000 p. 65−22.4%
504Mar 29, 2019$606,000$735,000 p. 65−17.6%
202May 7, 2019$725,000$875,000 p. 65−17.1%
403May 7, 2019$750,000$880,000 p. 65−14.8%
701May 7, 2019$785,000$950,000 p. 65−17.4%
604May 21, 2019$609,750$755,000 p. 65−19.2%
PH1Jun 7, 2019$985,000$1,395,000 p. 66−29.4%
201Nov 26, 2019$712,750$950,000 p. 65−25%
1003Feb 28, 2020$875,000$1,100,000 p. 65−20.5%
PH3Jun 28, 2021$637,750$950,000 p. 66−32.9%
801Aug 13, 2021$722,750$975,000 p. 65−25.9%
302Dec 14, 2021$575,000$750,000 p. 65−23.3%
903Jan 24, 2022$810,000$940,000 p. 65−13.8%
804Feb 28, 2022$960,000$1,300,000 p. 65−26.2%
603Apr 29, 2022$705,000$910,000 p. 65−22.5%
1002May 3, 2022$625,000$890,000 p. 65−29.8%
704May 31, 2022$950,000$1,250,000 p. 65−24%
303Jun 3, 2022$685,000$865,000 p. 65−20.8%
902Jul 28, 2022$620,000$870,000 p. 65−28.7%
1202Jul 28, 2022$640,000$930,000 p. 66−31.2%
602Sep 29, 2022$609,000$810,000 p. 65−24.8%
501Oct 3, 2022$684,400$895,000 p. 65−23.5%
203Dec 19, 2023$590,000$850,000 p. 65−30.6%
1102Jul 19, 2024$565,000$910,000 p. 65−37.9%
702Aug 2, 2024$590,000$830,000 p. 65−28.9%
601Aug 23, 2024$600,000$925,000 p. 65−35.1%
703Aug 28, 2024$675,000$880,000 p. 65−23.3%
803Nov 25, 2024$675,000$910,000 p. 65−25.8%
802Dec 23, 2024$610,000$850,000 p. 65−28.2%

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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
1790-1792 Third Avenue LLC
Principals
Udi Gilboa, Yoram Avner
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Bank Hapoalim

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

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