Caledonia Condominium

450 West 17th Street, Manhattan, NY 10011

Overview

Units: 190 residential
Subway: 6 min walk to 14 St/8 Av A C E L23 St C E, 13 min
Developers: The Related Companies, L.P., Taconic Investment Partners, Abington 1710 LLC
Principals: Jeff T. Blau, Stephen M. Ross, Bruce A. Beal, Jr., David J. Wine, Bryan Cho, Charles Bendit, Paul Pariser, Greg Gushee
Average $/sf: $1,366Homes in Schedule A, as first offered
Offering price: $228.8 million total
Floor plans: Pages 308–309 of the plan

The sponsor of record is 450 West 17th Associates LLC, represented by Stroock & Stroock & Lavan LLP. The offering plan runs 614 pages. The sponsor has filed 18 amendments, the latest in November 2009. The nearest other condo plan on file is 459 West 18th Street Condominium, next door.

Plan CD060016 · New · accepted Aug 10, 2006 · AG record ↗

Compare

Figure	This building¹	Be@William²113 units · 2.4 miaccepted 2007	Harrison³133 units · 3 miaccepted 2007
Common ChargesPer Square Foot / Month	$2.14Highest	$0.89	$1.29
Average Offering PricePer Apartment	$1.2MIn line	$849,469	$2.46M
Average PricePer Square Foot	$1,366In line	$855	$1,797
Average Unit SizeSquare Feet	882 SFSmaller	993 SF	1,371 SF

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Unit mix, closings, budgets, finishes and the team, against Be@William and Harrison, 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 closed94% of the homes in Schedule A	179 of 190
Closing prices vs. Schedule A177 homes: $235,325,487 at closing against $214,051,000 in Schedule A (p. 60, p. 61, p. 62, p. 63, p. 64)	+9.9%
Average closing price177 homes, on their Schedule A square feet	$1,504 / SF
Closingsfirst and latest recorded	Aug 11, 2008 – Oct 20, 2023

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 179 closings

Home	Recorded	Closing price	Schedule A	Difference
1117	Aug 11, 2008	$2,563,088	$2,595,000 p. 60	−1.2%
1004	Aug 25, 2008	$840,056	$785,000 p. 60	+7%
1010	Aug 27, 2008	$814,600	$720,000 p. 60	+13.1%
1123	Aug 27, 2008	$695,719	$725,000 p. 60	−4%
1007	Aug 28, 2008	$1,680,113	$1,650,000 p. 60	+1.8%
1019	Sep 3, 2008	$865,513	$770,000 p. 60	+12.4%
1015	Sep 4, 2008	$784,053	$770,000 p. 60	+1.8%
1103	Sep 12, 2008	$1,247,356	$1,225,000 p. 60	+1.8%
1005	Sep 16, 2008	$1,013,159	$945,000 p. 60	+7.2%
1018	Sep 18, 2008	$1,221,900	$1,200,000 p. 60	+1.8%
1003	Sep 19, 2008	$1,451,006	$1,375,000 p. 60	+5.5%
1017	Sep 19, 2008	$3,334,769	$2,875,000 p. 60	+16%
1106	Sep 23, 2008	$1,486,645	$1,460,000 p. 60	+1.8%
1503	Sep 23, 2008	$1,395,003	$1,295,000 p. 61	+7.7%
1118	Sep 24, 2008	$1,247,356	$1,225,000 p. 60	+1.8%
1121	Sep 25, 2008	$697,501	$685,000 p. 60	+1.8%
1109	Sep 26, 2008	$733,140	$655,000 p. 60	+11.9%
1110	Sep 26, 2008	$824,783	$730,000 p. 60	+13%
1501	Sep 29, 2008	$656,771	$645,000 p. 61	+1.8%
1605	Oct 3, 2008	$1,120,075	$1,100,000 p. 62	+1.8%
1108	Oct 6, 2008	$1,056,842	$1,070,000 p. 60	−1.2%
1021	Oct 7, 2008	$687,319	$675,000 p. 60	+1.8%
1111	Oct 7, 2008	$809,509	$730,000 p. 60	+10.9%
1610	Oct 10, 2008	$972,429	$955,000 p. 62	+1.8%
1022	Oct 14, 2008	$982,764	$995,000 p. 60	−1.2%
1105	Oct 14, 2008	$875,695	$860,000 p. 60	+1.8%
1508	Oct 14, 2008	$1,512,101	$787,500 p. 61	+92%
1107	Oct 15, 2008	$1,690,295	$1,660,000 p. 60	+1.8%
1101	Oct 16, 2008	$636,406	$625,000 p. 60	+1.8%
1016	Oct 17, 2008	$728,049	$630,000 p. 60	+15.6%
1504	Oct 20, 2008	$1,588,470	$1,560,000 p. 61	+1.8%
1122	Oct 21, 2008	$946,973	$930,000 p. 60	+1.8%
1706	Oct 22, 2008	$679,682	$667,500 p. 62	+1.8%
1708	Oct 22, 2008	$1,624,109	$797,500 p. 62	+103.7%
1606	Oct 23, 2008	$677,136	$665,000 p. 62	+1.8%
1611	Oct 23, 2008	$865,513	$775,000 p. 62	+11.7%
1410	Oct 24, 2008	$735,840	$745,000 p. 61	−1.2%
1705	Oct 24, 2008	$1,232,083	$1,110,000 p. 62	+11%
1509	Oct 30, 2008	$3,665,700	$3,250,000 p. 61	+12.8%
1608	Nov 3, 2008	$1,613,926	$792,500 p. 62	+103.7%
2010	Nov 3, 2008	$1,018,250	$1,000,000 p. 63	+1.8%
1701	Nov 4, 2008	$646,945	$655,000 p. 62	−1.2%
1710	Nov 4, 2008	$977,520	$960,000 p. 62	+1.8%
1401	Nov 5, 2008	$627,191	$635,000 p. 61	−1.2%
1601	Nov 6, 2008	$642,007	$650,000 p. 61	−1.2%
1505	Nov 7, 2008	$1,186,261	$1,090,000 p. 61	+8.8%
1510	Nov 7, 2008	$967,338	$950,000 p. 61	+1.8%
1511	Nov 10, 2008	$778,961	$765,000 p. 61	+1.8%
1408	Nov 12, 2008	$1,501,919	$782,500 p. 61	+91.9%
1709	Nov 12, 2008	$2,749,275	$2,520,000 p. 62	+9.1%
1009	Nov 13, 2008	$664,408	$652,500 p. 60	+1.8%
1209	Nov 13, 2008	$763,688	$665,000 p. 61	+14.8%
1115	Nov 14, 2008	$765,469	$775,000 p. 60	−1.2%
1222	Nov 14, 2008	$992,794	$935,000 p. 61	+6.2%
1406	Nov 18, 2008	$651,884	$660,000 p. 61	−1.2%
1001	Nov 19, 2008	$738,231	$725,000 p. 60	+1.8%
1404	Nov 20, 2008	$2,189,238	$2,150,000 p. 61	+1.8%
1204	Nov 21, 2008	$763,688	$750,000 p. 61	+1.8%
1206	Nov 24, 2008	$1,573,196	$1,495,000 p. 61	+5.2%
1609	Nov 24, 2008	$2,540,534	$2,495,000 p. 62	+1.8%
2004	Nov 24, 2008	$1,827,759	$1,620,000 p. 63	+12.8%
1203	Nov 25, 2008	$1,282,995	$1,260,000 p. 61	+1.8%
1218	Nov 25, 2008	$1,374,638	$1,275,000 p. 61	+7.8%
1810	Nov 25, 2008	$982,611	$965,000 p. 62	+1.8%
1808	Nov 26, 2008	$1,634,291	$802,500 p. 62	+103.7%
1215	Dec 1, 2008	$840,056	$785,000 p. 61	+7%
1703	Dec 1, 2008	$1,328,816	$1,305,000 p. 62	+1.8%
1806	Dec 1, 2008	$725,961	$670,000 p. 62	+8.4%
1205	Dec 2, 2008	$921,516	$905,000 p. 61	+1.8%
1207	Dec 2, 2008	$1,883,763	$1,695,000 p. 61	+11.1%
1804	Dec 2, 2008	$1,603,744	$1,575,000 p. 62	+1.8%
1905	Dec 2, 2008	$1,298,269	$1,130,000 p. 62	+14.9%
1911	Dec 3, 2008	$819,691	$805,000 p. 62	+1.8%
1201	Dec 4, 2008	$661,863	$650,000 p. 61	+1.8%
1223	Dec 4, 2008	$789,144	$775,000 p. 61	+1.8%
1214	Dec 5, 2008	$743,323	$685,000 p. 61	+8.5%
1211	Dec 9, 2008	$763,688	$750,000 p. 61	+1.8%
1801	Dec 9, 2008	$733,140	$660,000 p. 62	+11.1%
1910	Dec 10, 2008	$1,013,159	$970,000 p. 62	+4.4%
1102	Dec 11, 2008	$865,513	$850,000 p. 60	+1.8%
1403	Dec 11, 2008	$1,832,850	$1,725,000 p. 61	+6.3%
1114	Dec 12, 2008	$666,699	$675,000 p. 60	−1.2%
2003	Dec 12, 2008	$1,358,091	$1,375,000 p. 63	−1.2%
2005	Dec 12, 2008	$1,160,805	$1,140,000 p. 63	+1.8%
1802	Dec 15, 2008	$906,243	$890,000 p. 62	+1.8%
2006	Dec 15, 2008	$702,593	$690,000 p. 63	+1.8%
2101	Dec 15, 2008	$1,033,524	$950,000 p. 63	+8.8%
1119	Dec 16, 2008	$1,069,163	$785,000 p. 60	+36.2%
1906	Dec 16, 2008	$750,959	$672,500 p. 62	+11.7%
2106	Dec 16, 2008	$1,685,204	$1,635,000 p. 63	+3.1%
1502	Dec 17, 2008	$890,969	$875,000 p. 61	+1.8%
1909	Dec 17, 2008	$2,698,363	$2,570,000 p. 62	+5%
1002	Dec 18, 2008	$1,069,163	$955,000 p. 60	+12%
2105	Dec 18, 2008	$1,196,444	$1,150,000 p. 63	+4%
1023	Dec 19, 2008	$785,223	$795,000 p. 60	−1.2%
1210	Dec 19, 2008	$763,688	$750,000 p. 61	+1.8%
1212	Dec 22, 2008	$672,045	$660,000 p. 61	+1.8%
1219	Dec 22, 2008	$849,424	$805,000 p. 61	+5.5%
1702	Dec 22, 2008	$913,625	$885,000 p. 62	+3.2%
1011	Dec 30, 2008	$568,591	$720,000 p. 60	−21%
1208	Jan 5, 2009	$1,186,261	$1,100,000 p. 61	+7.8%
2011	Jan 5, 2009	$845,148	$830,000 p. 63	+1.8%
12167	Jan 6, 2009	$3,446,776	—	—
1809	Jan 7, 2009	$2,513,703	$2,545,000 p. 62	−1.2%
2301	Jan 7, 2009	$987,703	$970,000 p. 63	+1.8%
1811	Jan 9, 2009	$809,509	$795,000 p. 62	+1.8%
2303	Jan 13, 2009	$1,501,919	$1,370,000 p. 63	+9.6%
1704	Jan 15, 2009	$1,598,653	$1,570,000 p. 62	+1.8%
2307	Jan 15, 2009	$3,182,031	$3,000,000 p. 63	+6.1%
2205	Jan 20, 2009	$1,176,079	$1,155,000 p. 63	+1.8%
1602	Jan 21, 2009	$896,060	$880,000 p. 62	+1.8%
2102	Jan 21, 2009	$972,429	$925,000 p. 63	+5.1%
1902	Jan 23, 2009	$941,881	$895,000 p. 62	+5.2%
2108	Jan 23, 2009	$2,265,606	$2,225,000 p. 63	+1.8%
2208	Jan 26, 2009	$2,291,063	$2,256,000 p. 63	+1.6%
1904	Jan 27, 2009	$1,608,835	$1,580,000 p. 62	+1.8%
2204	Jan 27, 2009	$1,659,748	$1,630,000 p. 63	+1.8%
2201	Jan 28, 2009	$977,520	$960,000 p. 63	+1.8%
2008	Jan 29, 2009	$1,970,314	$822,500 p. 63	+139.6%
2009	Jan 29, 2009	$2,698,363	$2,650,000 p. 63	+1.8%
1908	Jan 30, 2009	$1,595,140	$807,500 p. 62	+97.5%
2206	Feb 9, 2009	$1,634,291	$1,645,000 p. 63	−0.7%
2306	Feb 9, 2009	$1,644,474	$1,655,000 p. 63	−0.6%
2505	Feb 19, 2009	$1,349,181	$1,170,000 p. 64	+15.3%
2103	Feb 20, 2009	$1,374,638	$1,350,000 p. 63	+1.8%
2203	Feb 20, 2009	$1,491,736	$1,360,000 p. 63	+9.7%
2401	Feb 23, 2009	$967,948	$980,000 p. 63	−1.2%
2404	Feb 23, 2009	$1,720,843	$1,640,000 p. 63	+4.9%
1803	Feb 26, 2009	$993,507	$1,319,000 p. 62	−24.7%
2405	Feb 26, 2009	$1,293,178	$1,165,000 p. 63	+11%
1221	Feb 27, 2009	$459,596	$725,000 p. 61	−36.6%
1402	Mar 3, 2009	$875,695	$860,000 p. 61	+1.8%
2506	Mar 4, 2009	$1,654,402	$1,675,000 p. 64	−1.2%
2503	Mar 11, 2009	$1,532,466	$1,390,000 p. 64	+10.2%
PH04	Mar 11, 2009	$1,373,619	$1,700,000 p. 64	−19.2%
2508	Mar 12, 2009	$2,438,709	$2,325,000 p. 64	+4.9%
2308	Mar 13, 2009	$2,316,519	$2,275,000 p. 63	+1.8%
PH01	Mar 17, 2009	$1,225,000	—	—
PH07	Mar 17, 2009	$5,880,394	$3,125,000 p. 64	+88.2%
PH03	Mar 19, 2009	$1,654,656	$1,410,000 p. 64	+17.4%
1104	Mar 20, 2009	$810,000	$715,000 p. 60	+13.3%
1805	Mar 20, 2009	$1,140,440	$1,120,000 p. 62	+1.8%
2402	Mar 25, 2009	$939,382	$940,000 p. 63	−0.1%
2406	Mar 25, 2009	$1,663,905	$1,665,000 p. 63	−0.1%
2501	Mar 26, 2009	$1,145,531	$990,000 p. 63	+15.7%
1008	Mar 27, 2009	$987,703	$1,060,000 p. 60	−6.8%
2002	Apr 3, 2009	$913,625	$925,000 p. 63	−1.2%
2408	Apr 6, 2009	$2,341,975	$2,300,000 p. 63	+1.8%
2502	Apr 15, 2009	$1,175,000	$945,000 p. 63	+24.3%
PH05	Apr 16, 2009	$1,318,634	$1,185,000 p. 64	+11.3%
2202	Apr 23, 2009	$946,973	$930,000 p. 63	+1.8%
2407	Apr 24, 2009	$3,080,206	$3,025,000 p. 63	+1.8%
PH02	Apr 29, 2009	$1,069,163	$960,000 p. 64	+11.4%
1116	May 20, 2009	$725,000	$640,000 p. 60	+13.3%
2403	May 27, 2009	$1,557,000	$1,380,000 p. 63	+12.8%
2504	Jun 8, 2009	$1,827,759	$1,645,000 p. 64	+11.1%
1903	Aug 4, 2009	$1,535,000	$1,315,000 p. 62	+16.7%
2305	Aug 13, 2009	$1,260,000	$1,160,000 p. 63	+8.6%
1202	Aug 31, 2009	$1,045,000	$875,000 p. 61	+19.4%
2302	Sep 4, 2009	$982,611	$935,000 p. 63	+5.1%
1604	Sep 9, 2009	$1,645,000	$1,565,000 p. 62	+5.1%
2104	Sep 25, 2009	$1,715,513	$1,625,000 p. 63	+5.6%
2304	Oct 16, 2009	$1,750,000	$1,635,000 p. 63	+7%
2107	Oct 19, 2009	$2,950,000	$2,950,000 p. 63	0%
2207	Oct 28, 2009	$3,054,750	$2,975,000 p. 63	+2.7%
1014	Nov 5, 2009	$722,958	$665,000 p. 60	+8.7%
1012	Nov 18, 2009	$735,000	$630,000 p. 60	+16.7%
1112	Nov 25, 2009	$750,000	$640,000 p. 60	+17.2%
PH06	Jan 25, 2010	$1,910,000	$1,695,000 p. 64	+12.7%
1409	Jan 28, 2010	$1,450,000	$1,425,000 p. 61	+1.8%
1120	Feb 3, 2010	$1,520,000	$1,260,000 p. 60	+20.6%
1006	Feb 4, 2010	$1,580,000	$1,450,000 p. 60	+9%
1506	Sep 23, 2010	$337,200	$686,000 p. 61	−50.8%
2507	Feb 4, 2011	$4,575,000	$3,050,000 p. 64	+50%
1711	Jul 15, 2011	$921,516	$785,000 p. 62	+17.4%
1901	Jan 15, 2014	$999,995	$665,000 p. 62	+50.4%
1405	Jan 19, 2017	$2,075,000	$1,080,000 p. 61	+92.1%
1603	Dec 31, 2020	$1,995,000	$1,300,000 p. 62	+53.5%
2001	Oct 20, 2023	$1,180,000	$670,000 p. 62	+76.1%

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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: 450 West 17th Associates LLC
Developers: The Related Companies, L.P., Taconic Investment Partners, Abington 1710 LLC
Principals: Jeff T. Blau, Stephen M. Ross, Bruce A. Beal, Jr., David J. Wine, Bryan Cho, Charles Bendit, Paul Pariser, Greg Gushee
Counsel: Stroock & Stroock & Lavan LLP
Tax estimate: Marcus & Pollock LLPPrepared the first-year real estate tax projection
Construction lender: New York State Housing Finance Agency, PB Capital Corporation$277.5 million recorded

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

Nearby

459 West 18th Street Condominiumnext door · 12 units · 2007
447-453 West 18th Street Condominiumnext door · 47 units · 2007
452 West 19 Condominium0.1 mi · 14 units · 2005
456 West 19th Street Condominium0.1 mi · 22 units · 2008
428 West 19th Street0.1 mi · 33 units · 2024
515 West 18th Street Condominium0.1 mi · 181 units · 2020

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