THE CONDO BOOK PROJECT

505 West 19th Street Condominium

505 West 19th Street, Manhattan, NY 10011

Overview

Units
35 residential · 3 parking · 1 storage · 2 commercial
Subway
10 min walk to 14 St/8 Av A C E L23 St C E, 11 min
Principals
Ziel Feldman
Average $/sf
$2,645Homes in Schedule A, as first offered
Offering price
$227.1 million total $233.2 million when first offered

The sponsor of record is Hfz Highline Property Owner LLC, represented by Starr Associates LLP. The offering plan runs 488 pages. The sponsor has filed 15 amendments, the latest in November 2016. The nearest other condo plan on file is 520 West 19th Street Condo, next door.

Plan CD130123 · New · accepted Jan 2, 2014 · AG record ↗

Compare

FigureThis building1One Vandam225 units · 1.4 miaccepted 201335 Xv356 units · 0.8 miaccepted 2012
Common ChargesPer Square Foot / Month$1.81Highest$1.38$1.04
Average Offering PricePer Apartment$6.05MIn line$6.1M$4.04M
Average PricePer Square Foot$2,645In line$3,003$2,193
Average Unit SizeSquare Feet2,287 SFLarger2,030 SF1,841 SF

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Unit mix, closings, budgets, finishes and the team, against One Vandam and 35 Xv, 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 A35 of 35
Closing prices vs. Schedule A25 homes: $112,087,358 at closing against $109,590,000 in Schedule A (p. 49)+2.3%
Average closing price25 homes, on their Schedule A square feet$2,528 / SF
Closingsfirst and latest recordedSep 8, 2015 – Nov 14, 2016

Sales recorded with the Department of Finance (ACRIS) through Jun 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 35 closings
HomeRecordedClosing priceSchedule ADifference
4ASep 8, 2015$4,724,680$4,640,000 p. 49+1.8%
2CSep 18, 2015$2,179,055$2,140,000 p. 49+1.8%
4WSep 22, 2015$6,900,000——
2ASep 24, 2015$4,582,125$4,290,000 p. 49+6.8%
4BSep 25, 2015$3,197,305$3,140,000 p. 49+1.8%
5BOct 2, 2015$3,350,043$3,290,000 p. 49+1.8%
5DOct 2, 2015$2,352,158$2,310,000 p. 49+1.8%
4DOct 7, 2015$2,280,880$2,240,000 p. 49+1.8%
4COct 15, 2015$3,767,525$3,790,000 p. 49−0.6%
6ANov 2, 2015$5,447,638$5,350,000 p. 49+1.8%
6DNov 10, 2015$2,433,618$2,390,000 p. 49+1.8%
6BNov 13, 2015$3,502,780$3,440,000 p. 49+1.8%
5CNov 18, 2015$3,981,358$3,940,000 p. 49+1%
7DNov 19, 2015$2,586,355$2,540,000 p. 49+1.8%
7BNov 30, 2015$3,706,430$3,640,000 p. 49+1.8%
7CDec 1, 2015$4,419,205$4,340,000 p. 49+1.8%
THDec 3, 2015$12,371,738——
6CDec 7, 2015$4,215,555$4,140,000 p. 49+1.8%
7ADec 15, 2015$5,702,200$5,600,000 p. 49+1.8%
8DDec 15, 2015$2,688,180$2,640,000 p. 49+1.8%
5WDec 18, 2015$7,484,138——
7WJan 8, 2016$8,300,000——
8CJan 12, 2016$4,582,125$4,540,000 p. 49+0.9%
8WJan 19, 2016$8,767,133——
8BJan 29, 2016$4,139,186$3,840,000 p. 49+7.8%
8AFeb 12, 2016$6,029,522$5,850,000 p. 49+3.1%
6WMar 2, 2016$7,500,000——
Penthouse 2Mar 16, 2016$17,921,200$17,060,000 p. 49+5%
5AApr 15, 2016$4,828,000$4,990,000 p. 49−3.2%
2BMay 31, 2016$6,260,000$6,300,000 p. 49−0.6%
2ESep 26, 2016$3,210,238$3,150,000 p. 49+1.9%
2DNov 14, 2016$44,105,000one deed, 2 homes$6,050,000 p. 49—
3WNov 14, 2016$44,105,000one deed, 2 homes——
Penthouse 1Nov 14, 2016$44,105,000one deed, 2 homes$21,070,000 p. 49—
PHWNov 14, 2016$44,105,000one deed, 2 homes——

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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
Hfz Highline Property Owner LLC
Principals
Ziel Feldman
Tax estimate
Marcus & Pollack LLPPrepared the first-year real estate tax projection
Construction lender
Capital One$65 million recorded

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

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