THE CONDO BOOK PROJECT

323 East 53rd Street Condominium

323 East 53rd Street, Manhattan, NY 10022

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Overview

Units
11 residential
Subway
4 min walk to Lexington Av/51-53 Sts 6 E F M
Developers
Maverick Lien Fund IV LP, Maverick Real Estate Partners LLC
Principals
David Aviram, Edward Martell
Average $/sf
$1,724Homes in Schedule A, as first offered
Common charges
$766–$992 a monthSponsor's first-year estimate in Schedule A, 1/1/21-12/31/21
Offering price
$10.2 million total $10.4 million when first offered

The sponsor of record is 323 E 53rd Street Owner LLC, represented by Lester Bleckner & Shaw LLP. The offering plan runs 463 pages. The sponsor has filed 6 amendments, the latest in March 2024. The nearest other condo plan on file is 325 East 53rd Street, next door.

Plan CD200132 · New · accepted Mar 5, 2021 · AG record ↗

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FigureThis building1422 West 49th28 units · 1.4 miaccepted 2020Minuet315 units · 0.1 miaccepted 2020
Common ChargesPer Square Foot / Month$1.49Highest$0.54$1.26
Average Offering PricePer Apartment$950,000Lowest$2.22M$2.72M
Average PricePer Square Foot$1,724In line$1,715$2,026
Property TaxesPer Square Foot / Month$1.86Highest$0.53$0.91
Average Unit SizeSquare Feet551 SFSmallest1,295 SF1,343 SF

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Unit mix, closings, budgets, finishes and the team, against 422 West 49th and Minuet, 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 A11 of 11
Closingsfirst and latest recordedAug 10, 2023 – Aug 15, 2024

Sales recorded with the Department of Finance (ACRIS) through Dec 31, 2025: 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 11 closings
HomeRecordedClosing priceSchedule ADifference
2AAug 10, 2023$770,000——
3ASep 1, 2023$830,000——
2BSep 7, 2023$785,000——
5BSep 8, 2023$925,000——
4ASep 14, 2023$910,000——
3BNov 28, 2023$850,000——
4BDec 4, 2023$860,000——
TSBMar 22, 2024$977,520——
5AMay 23, 2024$875,000——
TSAJun 27, 2024$885,000——
GARDAug 15, 2024$690,000——

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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.

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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
323 E 53rd Street Owner LLC
Developers
Maverick Lien Fund IV LP, Maverick Real Estate Partners LLC
Principals
David Aviram, Edward Martell
Tax estimate
The Mazursky Group, Inc.Prepared the first-year real estate tax projection
Construction lender
Creif 117Lender on the mortgage and building loan agreement recorded December 2016 in ACRIS; $10.4 million recorded

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

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