Sorting House Condominium
318 West 52nd Street, Manhattan, NY 10019
Overview
- Units
- 30 residential · 1 commercial
- Subway
- 3 min walk to 50 St C E7 Av B D E, 5 min
- Developers
- HMG B Investors LLC, HMG Development LLC, KG Land
- Principals
- Howard Glatzer
- Average $/sf
- $1,707Homes in Schedule A, as first offered
- Common charges
- $755–$2,043 a monthSponsor's first-year estimate in Schedule A, 1/1/17-12/31/17
- Offering price
- $63.3 million total $58 million when first offered
- Floor plans
- Page 30 of the plan
The sponsor of record is Rc 51 Development LLC, represented by Romer Debbas, LLP. The offering plan runs 381 pages. The sponsor has filed 13 amendments, the latest in August 2017. The nearest other condo plan on file is 310 West 52nd St. Condominium, next door.
Plan CD150051 · New · accepted Aug 24, 2015 · AG record ↗
Compare
| Figure | This building1 | Seymour249 units · 1.3 miaccepted 2014 | D'Orsay321 units · 1.9 miaccepted 2015 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $1.36In line | $1.17 | $2.04 |
| Average Offering PricePer Apartment | $1.93MLowest | $2.36M | $3.75M |
| Average PricePer Square Foot | $1,707Below peers | $1,908 | $2,577 |
| Property TaxesPer Square Foot / Month | $1.28In line | $1.29 | $0.36 |
| Average Unit SizeSquare Feet | 1,133 SFSmaller | 1,239 SF | 1,454 SF |
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Unit mix, closings, budgets, finishes and the team, against Seymour and D'Orsay, cited to the offering plans. No credit card required.
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- 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.
Units & Prices
Closings Pro
| Homes closed100% of the homes in Schedule A | 30 of 30 |
| Closing prices vs. Schedule A30 homes: $62,170,910 at closing against $58,020,000 in Schedule A (p. 28) | +7.2% |
| Average closing price30 homes, on their Schedule A square feet | $1,829 / SF |
| Closingsfirst and latest recorded | Jul 17, 2017 – Nov 15, 2017 |
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 30 closings
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| 3C | Jul 17, 2017 | $911,334 | $895,000 p. 28 | +1.8% |
| 3N | Jul 19, 2017 | $1,756,481 | $1,660,000 p. 28 | +5.8% |
| 3Q | Jul 20, 2017 | $1,725,934 | $1,695,000 p. 28 | +1.8% |
| 3E | Jul 21, 2017 | $915,407 | $850,000 p. 28 | +7.7% |
| 3P | Jul 21, 2017 | $1,756,481 | $1,675,000 p. 28 | +4.9% |
| 3L | Jul 24, 2017 | $1,781,938 | $1,650,000 p. 28 | +8% |
| 3F | Jul 26, 2017 | $952,064 | $850,000 p. 28 | +12% |
| 3B | Jul 27, 2017 | $1,725,934 | $1,625,000 p. 28 | +6.2% |
| 3K | Jul 27, 2017 | $1,680,113 | $1,650,000 p. 28 | +1.8% |
| 3M | Jul 28, 2017 | $1,781,938 | $1,650,000 p. 28 | +8% |
| 3G | Aug 11, 2017 | $1,450,500 | $1,275,000 p. 28 | +13.8% |
| 4J | Aug 29, 2017 | $1,807,394 | $1,775,000 p. 28 | +1.8% |
| 3H | Sep 6, 2017 | $2,494,838 | $2,150,000 p. 28 | +16% |
| 3A | Sep 14, 2017 | $2,934,597 | $2,650,000 p. 28 | +10.7% |
| 3D | Sep 19, 2017 | $1,318,634 | $1,295,000 p. 28 | +1.8% |
| 4E | Sep 21, 2017 | $2,392,888 | $2,250,000 p. 28 | +6.4% |
| 4K | Sep 21, 2017 | $2,031,409 | $1,775,000 p. 28 | +14.4% |
| PH-D | Sep 25, 2017 | $2,947,834 | $2,895,000 p. 28 | +1.8% |
| 4G | Sep 26, 2017 | $2,800,188 | $2,500,000 p. 28 | +12% |
| 4A | Sep 28, 2017 | $2,546,643 | $2,375,000 p. 28 | +7.2% |
| 4D | Sep 28, 2017 | $2,443,800 | $2,250,000 p. 28 | +8.6% |
| 4C | Sep 29, 2017 | $2,469,256 | $2,250,000 p. 28 | +9.7% |
| 4L | Oct 6, 2017 | $2,744,184 | $2,695,000 p. 28 | +1.8% |
| 4H | Oct 10, 2017 | $2,672,906 | $2,625,000 p. 28 | +1.8% |
| PH-A | Oct 10, 2017 | $2,927,469 | $2,875,000 p. 28 | +1.8% |
| PH - B | Oct 12, 2017 | $2,265,606 | $1,995,000 p. 28 | +13.6% |
| 4F | Oct 19, 2017 | $2,571,081 | $2,250,000 p. 28 | +14.3% |
| PH-C | Oct 23, 2017 | $2,189,238 | $1,995,000 p. 28 | +9.7% |
| 4B | Nov 1, 2017 | $2,392,888 | $2,250,000 p. 28 | +6.4% |
| 3J | Nov 15, 2017 | $1,781,938 | $1,695,000 p. 28 | +5.1% |
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Closings are for subscribers
Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.
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
- Rc 51 Development LLC
- Developers
- HMG B Investors LLC, HMG Development LLC, KG Land
- Principals
- Howard Glatzer
- Counsel
- Romer Debbas, LLP
- Tax estimate
- Tuchman, Korugold, Weiss, Liebman & Gelles, LLPPrepared the first-year real estate tax projection
- Construction lender
- Pacific Western Bank
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- 310 West 52nd St. Condominiumnext door · 210 units · 2005
- Linden Lane Condominiumnext door · 32 units · 2025
- 310-318 West 53rd Street Condominiumnext door · 16 units
- Lumiere/350 West 53rd Streetnext door · 66 units · 2005
- 362 West 53rd Street Condominiumnext door · 9 units
- 301 West 53rd Street Condominium0.1 mi · 262 units · 2014