THE CONDO BOOK PROJECT

Dwyer Condominium

258 St. Nicholas Avenue, Manhattan, NY 10027

Overview

Units
52 residential · 2 commercial
Subway
2 min walk to 125 St A B C D116 St B C, 8 min
Principals
John Cross
Average $/sf
$564Homes in Schedule A, as first offered
Common charges
$376–$974 a monthSponsor's first-year estimate in Schedule A, January 1, 2008 to December 31, 2008
Offering price
$39.3 million total

The sponsor of record is Penthouse A LLC, represented by Seiden & Schein, PC. The offering plan runs 482 pages. The sponsor has filed 10 amendments, the latest in April 2013. The nearest other condo plan on file is Frederick Douglass Classic Condo, next door.

Plan CD050263 · New · accepted Dec 5, 2005 · AG record ↗

Compare

FigureThis building1Riverbridge Court246 units · 1.4 miaccepted 2006Cathedral Parkway370 units · 0.7 miaccepted 2005
Common ChargesPer Square Foot / Month$0.50Below peers$0.68$0.53
Average Offering PricePer Apartment$761,155Above peers$658,785$662,600
Average PricePer Square Foot$564Below peers$581$601
Average Unit SizeSquare Feet1,350 SFLargest1,134 SF1,103 SF

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Unit mix, closings, budgets, finishes and the team, against Riverbridge Court and Cathedral Parkway, 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 closed92% of the homes in Schedule A48 of 52
Closing prices vs. Schedule A44 homes: $33,496,644 at closing against $32,954,317 in Schedule A (p. 13, p. 14)+1.6%
Average closing price44 homes, on their Schedule A square feet$565 / SF
Closingsfirst and latest recordedApr 29, 2008 – Feb 4, 2011

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 48 closings
HomeRecordedClosing priceSchedule ADifference
4AApr 29, 2008$1,014,635$996,450 p. 13+1.8%
3FMay 2, 2008$388,616$383,250 p. 13+1.4%
7BMay 8, 2008$988,748$995,925 p. 14−0.7%
7CMay 9, 2008$764,398$750,698 p. 14+1.8%
9EMay 9, 2008$575,744$565,425 p. 14+1.8%
7EMay 14, 2008$557,301$547,313 p. 14+1.8%
3CMay 15, 2008$715,217$702,398 p. 13+1.8%
9AMay 15, 2008$1,100,168$1,080,450 p. 14+1.8%
9BMay 15, 2008$1,992,877one deed, 2 homes$1,027,425 p. 14—
PHBMay 15, 2008$1,992,877one deed, 2 homes$906,938 p. 14—
4EMay 16, 2008$529,637$520,144 p. 13+1.8%
PHDMay 16, 2008$793,468——
5EMay 19, 2008$538,990$529,200 p. 13+1.8%
6EMay 19, 2008$548,079$538,256 p. 14+1.8%
6AMay 20, 2008$1,046,710$1,027,950 p. 14+1.8%
7AMay 20, 2008$1,068,093$1,048,950 p. 14+1.8%
2EMay 21, 2008$478,343$471,739 p. 13+1.4%
5DMay 21, 2008$743,175$729,855 p. 13+1.8%
3EMay 22, 2008$487,633$480,900 p. 13+1.4%
6FMay 22, 2008$446,160$440,055 p. 14+1.4%
2DMay 23, 2008$673,727$661,652 p. 13+1.8%
5BMay 23, 2008$982,026$964,425 p. 13+1.8%
PHCMay 28, 2008$1,134,649$1,114,313 p. 14+1.8%
8AMay 29, 2008$1,084,131$1,064,700 p. 14+1.8%
8BJun 2, 2008$1,030,138$1,011,675 p. 14+1.8%
5CJun 3, 2008$739,808$726,548 p. 13+1.8%
2AJun 4, 2008$999,922$982,000 p. 13+1.8%
2CJun 6, 2008$733,140$720,000 p. 13+1.8%
3BJun 6, 2008$949,919$932,894 p. 13+1.8%
8FJun 12, 2008$467,297$460,845 p. 14+1.4%
7DJun 16, 2008$767,766$754,005 p. 14+1.8%
7FJun 16, 2008$459,392$453,049 p. 14+1.4%
9DJun 26, 2008$855,330$840,000 p. 14+1.8%
4CJun 27, 2008$727,512$714,473 p. 13+1.8%
6BJun 27, 2008$988,083$980,175 p. 14+0.8%
8CJul 9, 2008$769,538$762,773 p. 14+0.9%
3AJul 11, 2008$986,837$969,150 p. 13+1.8%
6CJul 17, 2008$752,103$738,623 p. 14+1.8%
3DJul 18, 2008$686,349$674,048 p. 13+1.8%
4BAug 1, 2008$965,957$948,644 p. 13+1.8%
5AAug 7, 2008$1,030,673$1,012,200 p. 13+1.8%
2FAug 14, 2008$382,227$376,950 p. 13+1.4%
4FSep 10, 2008$430,405$424,463 p. 13+1.4%
2BSep 12, 2008$933,882$917,144 p. 13+1.8%
5FSep 26, 2008$438,656$432,600 p. 13+1.4%
6DOct 29, 2008$755,470$741,930 p. 14+1.8%
8DNov 5, 2008$780,061$766,080 p. 14+1.8%
1AFeb 4, 2011$400,000——

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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
Penthouse A LLC
Principals
John Cross
Tax estimate
Metropolitan Valuation Services, Inc.Prepared the first-year real estate tax projection
Construction lender
Fleet National Bank$16.3 million recorded

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

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