THE CONDO BOOK PROJECT

30 E 31 Condominium

30 East 31st Street, Manhattan, NY 10016

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Overview

Units
42 residential · 6 storage
Subway
2 min walk to 33 St 628 St 6, 4 min
Developers
Zarasai Group LLC, Ekstein Development LLC, The DeMatteis Organization
Principals
Joel Wiener, Erik Ekstein, Alan C. Sullivan, Michael Steinberg
Average $/sf
$2,471Homes in Schedule A, as first offered
Common charges
$2,734 a monthSponsor's first-year estimate in Schedule A, July 1, 2019- June 30,2020
Offering price
$148.1 million total $150.6 million when first offered

The sponsor of record is 31st Street Zef LLC, represented by Schwartz Sladkus Reich Greenberg Atlas LLP. The offering plan runs 375 pages. The sponsor has filed 15 amendments, the latest in August 2023. The nearest other condo plan on file is M127 Condominium, next door.

Plan CD170070 · New · accepted Jul 13, 2017 · AG record ↗

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FigureThis building1Three Waterline Square247 units · 1.9 miaccepted 2017200 East 21st367 units · 0.6 miaccepted 2017
Common ChargesPer Square Foot / Month$1.69In line$2.54$1.01
Average Offering PricePer Apartment$3.64MIn line$3.96M$3.1M
Average PricePer Square Foot$2,471In line$2,591$2,247
Average Unit SizeSquare Feet1,474 SFIn line1,527 SF1,379 SF

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Unit mix, closings, budgets, finishes and the team, against Three Waterline Square and 200 East 21st, 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 closed95% of the homes in Schedule A40 of 42
Closing prices vs. Schedule A39 homes: $86,449,858 at closing against $135,325,000 in Schedule A (p. 44, p. 45)−36.1%
Average closing price39 homes, on their Schedule A square feet$1,542 / SF
Closingsfirst and latest recordedJan 11, 2020 – Jan 14, 2025

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 40 closings
HomeRecordedClosing priceSchedule ADifference
8bJan 11, 2020$1,340,000$1,750,000 p. 44−23.4%
38Jan 20, 2021$4,127,750$4,850,000 p. 45−14.9%
18Feb 1, 2021$2,293,813$3,850,000 p. 45−40.4%
5aFeb 9, 2021$1,325,000$1,975,000 p. 44−32.9%
7bFeb 10, 2021$1,522,625$1,750,000 p. 44−13%
8aMar 18, 2021$1,390,000$2,050,000 p. 44−32.2%
10Apr 7, 2021$2,120,000$3,500,000 p. 44−39.4%
16Apr 12, 2021$2,385,455$3,750,000 p. 45−36.4%
2aApr 15, 2021$1,256,000$1,875,000 p. 44−33%
5bMay 4, 2021$1,175,000$1,700,000 p. 44−30.9%
3aMay 18, 2021$1,300,000$1,925,000 p. 44−32.5%
6aJun 9, 2021$1,335,000$2,000,000 p. 44−33.2%
7aJul 19, 2021$1,360,000$2,025,000 p. 44−32.8%
3bJul 28, 2021$1,175,000$1,650,000 p. 44−28.8%
19Aug 3, 2021$2,402,750$3,900,000 p. 45−38.4%
4aAug 4, 2021$1,319,000$1,950,000 p. 44−32.4%
22Aug 18, 2021$2,400,000$4,050,000 p. 45−40.7%
6bSep 10, 2021$1,275,563$1,725,000 p. 44−26.1%
23Oct 13, 2021$2,502,750$4,100,000 p. 45−39%
12Oct 15, 2021$2,200,000$3,600,000 p. 45−38.9%
25Nov 1, 2021$2,700,000$4,200,000 p. 45−35.7%
26Dec 28, 2021$2,700,000$4,250,000 p. 45−36.5%
17Feb 16, 2022$2,352,750$3,800,000 p. 45−38.1%
30Apr 12, 2022$2,900,000$4,450,000 p. 45−34.8%
20May 17, 2022$2,575,000——
31May 18, 2022$3,050,000$4,500,000 p. 45−32.2%
27Jun 23, 2022$3,032,044$4,300,000 p. 45−29.5%
28Sep 21, 2022$2,852,750$4,350,000 p. 45−34.4%
9Oct 12, 2022$2,904,763$4,000,000 p. 44−27.4%
24Jan 9, 2023$2,600,000$4,150,000 p. 45−37.3%
15Mar 27, 2023$2,340,000$3,700,000 p. 45−36.8%
11Aug 9, 2023$2,250,000$3,550,000 p. 44−36.6%
33May 9, 2024$2,678,838$4,600,000 p. 45−41.8%
32May 14, 2024$2,637,540$4,550,000 p. 45−42%
29May 16, 2024$2,534,253$4,400,000 p. 45−42.4%
14Jul 1, 2024$2,028,375$3,650,000 p. 45−44.4%
34Jul 15, 2024$2,765,755$4,650,000 p. 45−40.5%
35Sep 23, 2024$2,637,086$4,700,000 p. 45−43.9%
37Oct 7, 2024$2,755,000$4,800,000 p. 45−42.6%
36Jan 14, 2025$2,525,000$4,750,000 p. 45−46.8%

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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
31st Street Zef LLC
Developers
Zarasai Group LLC, Ekstein Development LLC, The DeMatteis Organization
Principals
Joel Wiener, Erik Ekstein, Alan C. Sullivan, Michael Steinberg
Tax estimate
TUCHMAN, KORNGOLD, WEISS, LIEBMAN & GELLES, LLPPrepared the first-year real estate tax projection
Construction lender
Centennial Bank$54 million loan stated in the plan

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

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