THE CONDO BOOK PROJECT

422 West 49th Street Condominium

422 West 49th Street, Manhattan, NY 10019

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Overview

Units
8 residential
Subway
4 min walk to 50 St C E50 St 1, 8 min
Principals
Anthony Morena
Average $/sf
$1,715Homes in Schedule A, as first offered
Common charges
$188–$918 a monthSponsor's first-year estimate in Schedule A, October 1, 2020- September 30, 2021
Offering price
$16.9 million total

The sponsor of record is Mgf Manhattan West LLC, represented by Marans, Weisz & Newman, LLC. The offering plan runs 311 pages. The sponsor has filed 4 amendments, the latest in March 2023. The nearest other condo plan on file is Barton Park Condominium, next door.

Plan CD190417 · New · accepted Jul 24, 2020 · AG record ↗

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FigureThis building1The Westerley29 units · 0.6 miaccepted 2020424w5237 units · 0.1 miaccepted 2019
Common ChargesPer Square Foot / Month$0.54In line$0.85$0.40
Average Offering PricePer Apartment$2.22MBelow peers$2.36M$2.29M
Average PricePer Square Foot$1,715In line$1,599$1,825
Property TaxesPer Square Foot / Month$0.53Lowest$1.15$1.28
Average Unit SizeSquare Feet1,295 SFIn line1,475 SF1,257 SF

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Unit mix, closings, budgets, finishes and the team, against The Westerley and 424w52, 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 A8 of 8
Closing prices vs. Schedule A8 homes: $15,022,920 at closing against $17,765,000 in Schedule A (p. 44)−15.4%
Average closing price8 homes, on their Schedule A square feet$1,450 / SF
Closingsfirst and latest recordedDec 21, 2021 – Jan 10, 2023

Sales recorded with the Department of Finance (ACRIS) through Jul 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 8 closings
HomeRecordedClosing priceSchedule ADifference
1ADec 21, 2021$501,930$495,000 p. 44+1.4%
1BDec 21, 2021$1,013,159$995,000 p. 44+1.8%
6AJan 7, 2022$2,612,593$2,725,000 p. 44−4.1%
2AFeb 18, 2022$2,235,059$2,650,000 p. 44−15.7%
3AMay 3, 2022$2,036,500$2,500,000 p. 44−18.5%
4AMay 25, 2022$2,100,000$2,550,000 p. 44−17.6%
7AJun 21, 2022$2,795,000$3,250,000 p. 44−14%
5AJan 10, 2023$1,728,680$2,600,000 p. 44−33.5%

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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
Mgf Manhattan West LLC
Principals
Anthony Morena
Tax estimate
MGNY Consulting Corp.Prepared the first-year real estate tax projection
Construction lender
Db 360$9.39 million recorded

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

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