THE CONDO BOOK PROJECT

Tatum

50 East 129th Street, Manhattan, NY 10035

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Overview

Units
18 residential
Subway
7 min walk to 125 St 4 5 6125 St 2 3, 10 min
Principals
Kathleen A. Dunn
Offering price
$5.95 million total

The sponsor of record is 50 East 129th Street, LLC, represented by Herrick, Feinstein LLP. The offering plan runs 298 pages. The sponsor has filed 8 amendments, the latest in November 2007. The nearest other condo plan on file is Metropolis Condominium, next door.

Plan CD050011 · New · accepted May 12, 2005 · AG record ↗

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FigureThis building1245 W. 115th220 units · 0.9 miaccepted 2006Crown331 units · 1 miaccepted 2005
Average Offering PricePer Apartment$330,389In line$252,000$507,478

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Unit mix, closings, budgets, finishes and the team, against 245 W. 115th and Crown, 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
50 East 129th Street, LLC
Principals
Kathleen A. Dunn
Tax estimate
Ben Rottenstein Associates Inc.Prepared the first-year real estate tax projection

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

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