THE CONDO BOOK PROJECT

300 West 122nd Street Condominium

300 West 122nd Street, Manhattan, NY 10027

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Overview

Units
127 residential · 1 commercial
Subway
4 min walk to 125 St A B C D116 St B C, 6 min
Principals
Hans Futterman
Average $/sf
$1,206Homes in Schedule A, as first offered
Offering price
$188.7 million total $178.5 million when first offered

The sponsor of record is Ladera, LLC, represented by Seiden & Schein P.C.. The offering plan runs 501 pages. The sponsor has filed 3 amendments, the latest in October 2016. The nearest other condo plan on file is 302 West 122nd Street Condominium, next door.

Plan CD140368 · New · accepted Aug 11, 2015 · AG record ↗

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FigureThis building11399 Park272 units · 1.2 miaccepted 2016Rennie3134 units · 0.8 miaccepted 2018
Common ChargesPer Square Foot / Month$1.04Below peers$1.21$1.24
Average Offering PricePer Apartment$1.25MIn line$1.46M$807,537
Average PricePer Square Foot$1,206In line$1,274$1,033
Average Unit SizeSquare Feet1,036 SFIn line1,144 SF781 SF

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Unit mix, closings, budgets, finishes and the team, against 1399 Park and Rennie, 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 A127 of 127
Closing prices vs. Schedule A105 homes: $120,935,688 at closing against $139,860,769 in Schedule A (p. 42, p. 43, p. 44, p. 45)−13.5%
Average closing price105 homes, on their Schedule A square feet$1,116 / SF
Closingsfirst and latest recordedJan 26, 2022 – Aug 1, 2024

Sales recorded with the Department of Finance (ACRIS) through Sep 30, 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 169 closings
HomeRecordedClosing priceSchedule ADifference
7DJan 26, 2022$549,855$1,025,392 p. 44−46.4%
8DJan 26, 2022$610,950$1,051,027 p. 44−41.9%
8EJan 26, 2022$557,838$1,081,382 p. 44−48.4%
7IJan 31, 2022$797,209——
6MFeb 1, 2022$775,000$1,559,069 p. 43−50.3%
7SFeb 3, 2022$820,000——
7TFeb 7, 2022$994,517——
3EFeb 10, 2022$505,011$923,967 p. 43−45.3%
5HFeb 10, 2022$1,155,448$1,396,926 p. 43−17.3%
6IFeb 10, 2022$800,000——
8QFeb 10, 2022$621,133——
6PFeb 11, 2022$499,000——
7FFeb 11, 2022$738,175$743,960 p. 44−0.8%
10JFeb 11, 2022$958,669$1,851,667 p. 44−48.2%
6BFeb 14, 2022$1,384,820$1,019,481 p. 43+35.8%
6QFeb 14, 2022$590,000——
7PFeb 14, 2022$539,673——
5KFeb 15, 2022$1,499,000$585,069 p. 42+156.2%
7GFeb 15, 2022$1,340,000$1,448,763 p. 44−7.5%
8AFeb 16, 2022$1,603,744$830,913 p. 44+93%
8MFeb 16, 2022$802,254$1,637,997 p. 44−51%
3DFeb 17, 2022$535,161$585,069 p. 42−8.5%
5IFeb 17, 2022$750,000——
5MFeb 17, 2022$890,969$1,521,041 p. 43−41.4%
4IFeb 18, 2022$750,000——
6JFeb 18, 2022$926,243$529,000 p. 43+75.1%
8IFeb 18, 2022$814,600——
5CFeb 22, 2022$789,144$1,572,287 p. 43−49.8%
10NFeb 22, 2022$943,532——
11GFeb 22, 2022$832,528$563,515 p. 45+47.7%
6HFeb 23, 2022$1,326,628$1,441,600 p. 43−8%
7EFeb 23, 2022$549,855$1,055,886 p. 44−47.9%
14EFeb 23, 2022$1,453,140——
PH-EFeb 24, 2022$1,527,375$6,138,590 p. 45−75.1%
PHHFeb 24, 2022$995,000——
4HFeb 25, 2022$1,125,000$1,314,074 p. 43−14.4%
4JFeb 25, 2022$893,076$489,504 p. 42+82.4%
8BFeb 25, 2022$1,409,975$1,071,094 p. 44+31.6%
8TFeb 25, 2022$999,000——
10AFeb 25, 2022$1,639,828$857,613 p. 44+91.2%
4AFeb 28, 2022$1,501,919$729,473 p. 43+105.9%
12FFeb 28, 2022$918,304$1,961,859 p. 45−53.2%
4GMar 1, 2022$1,311,863$585,069 p. 42+124.2%
5GMar 1, 2022$1,300,000$1,378,955 p. 43−5.7%
5LMar 1, 2022$983,897$585,069 p. 42+68.2%
8FMar 1, 2022$784,053$762,559 p. 44+2.8%
8HMar 1, 2022$1,205,000$1,499,952 p. 44−19.7%
8LMar 1, 2022$885,878$1,467,424 p. 44−39.6%
5QMar 2, 2022$580,000——
6CMar 2, 2022$753,505$1,611,594 p. 43−53.2%
4DMar 3, 2022$510,000$585,069 p. 42−12.8%
5PMar 3, 2022$505,986——
6GMar 3, 2022$1,360,000$1,413,427 p. 43−3.8%
14BMar 3, 2022$995,000——
14CMar 3, 2022$2,240,150——
3CMar 4, 2022$707,684$1,496,526 p. 43−52.7%
4EMar 4, 2022$514,654$947,065 p. 43−45.7%
6FMar 4, 2022$710,000$725,814 p. 43−2.2%
8OMar 4, 2022$865,513——
10DMar 4, 2022$575,201$1,667,674 p. 44−65.5%
12JMar 4, 2022$1,883,763——
4CMar 7, 2022$716,479$1,533,939 p. 43−53.3%
5FMar 7, 2022$705,378$497,870 p. 42+41.7%
6DMar 7, 2022$536,261$924,995 p. 43−42%
12HMar 7, 2022$963,714——
11CMar 8, 2022$1,473,323$1,163,653 p. 44+26.6%
PHFMar 8, 2022$1,013,159——
7QMar 9, 2022$610,950——
11FMar 9, 2022$900,000$1,680,609 p. 45−46.4%
3FMar 10, 2022$758,596$497,870 p. 42+52.4%
10HMar 10, 2022$1,245,000$1,325,788 p. 44−6.1%
11DMar 10, 2022$3,674,700$1,709,366 p. 44+115%
8CMar 11, 2022$835,226$1,693,181 p. 44−50.7%
10IMar 11, 2022$827,483——
12AMar 15, 2022$2,199,000$935,688 p. 45+135%
12GMar 15, 2022$850,239$2,651,458 p. 45−67.9%
12IMar 15, 2022$1,466,280——
14FMar 15, 2022$928,395——
3HMar 16, 2022$1,100,000$1,282,024 p. 43−14.2%
5NMar 16, 2022$995,000$1,579,857 p. 43−37%
7JMar 16, 2022$899,000$534,500 p. 44+68.2%
7MMar 16, 2022$799,326$1,598,045 p. 44−50%
14AMar 16, 2022$2,291,063——
14HMar 16, 2022$965,000——
14IMar 16, 2022$1,453,140——
PHJMar 16, 2022$2,383,740——
PH-AMar 17, 2022$2,319,978$4,129,560 p. 45−43.8%
PHIMar 18, 2022$1,440,000——
10LMar 21, 2022$898,121——
12CMar 21, 2022$1,507,010$1,998,610 p. 45−24.6%
5RMar 22, 2022$590,585——
PH-DMar 22, 2022$2,550,000$2,163,323 p. 45+17.9%
5EMar 23, 2022$524,745$970,741 p. 43−45.9%
7HMar 23, 2022$1,195,814$1,478,115 p. 44−19.1%
9IMar 24, 2022$824,783——
3IMar 25, 2022$799,913——
8NMar 25, 2022$931,699——
9EMar 25, 2022$570,220$1,439,219 p. 44−60.4%
9FMar 25, 2022$799,326$1,789,954 p. 44−55.3%
6RMar 28, 2022$610,950——
9AMar 28, 2022$1,670,000$847,510 p. 44+97%
9OMar 28, 2022$867,848——
PH-CMar 28, 2022$2,087,413$2,189,375 p. 45−4.7%
9DMar 30, 2022$565,110$1,810,323 p. 44−68.8%
8PMar 31, 2022$565,129——
8SMar 31, 2022$840,056——
11HMar 31, 2022$953,623$1,358,933 p. 45−29.8%
12EApr 1, 2022$1,445,915$1,889,000 p. 45−23.5%
PHGApr 1, 2022$911,334——
12BApr 5, 2022$1,892,794$3,339,684 p. 45−43.3%
14GApr 5, 2022$860,421——
8RApr 6, 2022$636,406——
9JApr 7, 2022$948,578$2,035,022 p. 44−53.4%
9LApr 7, 2022$896,060——
9HApr 8, 2022$1,272,813$1,293,452 p. 44−1.6%
10OApr 11, 2022$1,425,550——
11JApr 12, 2022$1,816,425$1,897,659 p. 45−4.3%
6EApr 14, 2022$539,673$1,035,515 p. 43−47.9%
5JApr 18, 2022$915,407$489,504 p. 42+87%
10PApr 18, 2022$1,853,215——
11EApr 19, 2022$1,400,000$1,355,589 p. 45+3.3%
14DApr 21, 2022$2,983,360——
3JApr 26, 2022$882,984$489,504 p. 42+80.4%
6AApr 27, 2022$1,552,831$790,875 p. 43+96.3%
5BApr 28, 2022$1,466,280$994,618 p. 43+47.4%
9MApr 29, 2022$819,691——
10EApr 29, 2022$570,000$1,322,525 p. 44−56.9%
10KMay 3, 2022$1,405,185——
7AMay 5, 2022$1,578,288$810,647 p. 43+94.7%
10MMay 5, 2022$815,000——
5DMay 6, 2022$520,000$585,069 p. 42−11.1%
7RMay 6, 2022$610,950——
7KMay 9, 2022$1,344,090$1,337,414 p. 44+0.5%
9QMay 19, 2022$620,000——
9RMay 20, 2022$661,863——
11IMay 23, 2022$1,445,915——
6OMay 31, 2022$830,000——
7CJun 7, 2022$786,311$1,651,884 p. 43−52.4%
5AJun 10, 2022$1,527,375$771,585 p. 43+98%
11AJun 22, 2022$2,456,298$858,027 p. 44+186.3%
11BJun 22, 2022$2,303,739$2,435,646 p. 44−5.4%
10FJun 23, 2022$847,406$1,697,619 p. 44−50.1%
9KJun 24, 2022$1,425,550——
7BJun 27, 2022$1,405,185$1,044,970 p. 43+34.5%
10GJul 8, 2022$1,445,915$555,300 p. 44+160.4%
9NJul 15, 2022$966,747——
4FAug 30, 2022$705,378$497,870 p. 42+41.7%
7OSep 12, 2022$855,330——
3BOct 7, 2022$1,323,725$946,681 p. 43+39.8%
8GOct 17, 2022$1,425,550$1,484,983 p. 44−4%
8JOct 27, 2022$966,319$544,800 p. 44+77.4%
9PFeb 23, 2023$580,247——
9CFeb 24, 2023$784,053$1,107,582 p. 44−29.2%
10BMar 16, 2023$1,453,140$2,376,241 p. 44−38.8%
PH-BMar 16, 2023$995,000$1,830,143 p. 45−45.6%
6LMar 17, 2023$825,000$1,357,044 p. 43−39.2%
7LMar 23, 2023$860,421$1,233,406 p. 44−30.2%
9BApr 27, 2023$1,460,000$2,677,928 p. 44−45.5%
4BMay 8, 2023$1,272,813$970,359 p. 43+31.2%
7NJun 6, 2023$903,167——
8KJun 27, 2023$1,362,319$1,370,850 p. 44−0.6%
RTL-1Jun 27, 2023$18,000,000——
12DJul 25, 2023$2,647,450$1,434,720 p. 45+84.5%
RTL-2Aug 2, 2023$2,095,345——
6NAug 11, 2023$916,425$1,672,188 p. 43−45.2%
5OFeb 22, 2024$795,000——
10CMar 29, 2024$829,874$1,135,272 p. 44−26.9%
3AJun 20, 2024$1,399,000$497,870 p. 42+181%
9GAug 1, 2024$1,411,649$544,800 p. 44+159.1%

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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
Ladera, LLC
Principals
Hans Futterman
Tax estimate
Goldberg Weprin Finkel Goldstein LLPPrepared the first-year real estate tax projection
Construction lenders
100 Mile Fund, Romspen Investment CorporationLender on the mortgage and building loan agreement recorded February 2013 in ACRIS; $16.5 million recorded

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

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