THE CONDO BOOK PROJECT

Brownstone Lane Condominium

309 West 118th Street, Manhattan, NY 10026

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Overview

Units
48 residential · 24 parking
Subway
4 min walk to 116 St B C125 St A B C D, 7 min
Principals
Robert Ezrapour, Eytan Benyamin, Ken Haron, Yoav Haron
Offering price
$27.8 million total

The sponsor of record is Manhattan Townhouse Equities, LLC, represented by Todtman, Nachamie, Spizz & Johns, P.C.. The offering plan runs 236 pages. The sponsor has filed 3 amendments, the latest in April 2007. The nearest other condo plan on file is Soha 118 Condominium, next door.

Plan CD040050 · New · accepted Aug 10, 2004 · AG record ↗

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FigureThis building1Cathedral Parkway270 units · 0.5 miaccepted 2005Riverbridge Court346 units · 1.6 miaccepted 2006
Average Offering PricePer Apartment$580,000Below peers$662,600$658,785

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Unit mix, closings, budgets, finishes and the team, against Cathedral Parkway and Riverbridge Court, 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.

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
Manhattan Townhouse Equities, LLC
Principals
Robert Ezrapour, Eytan Benyamin, Ken Haron, Yoav Haron
Tax estimate
Lawrence J. Berger, P.C.Prepared the first-year real estate tax projection
Construction lender
The Community Preservation Corporation$2.99 million recorded

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

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