514 West 24th Street Condominium
514 West 24th Street, Manhattan, NY 10011
Overview
- Units
- 14 residential · 14 storage · 2 commercial
- Subway
- 8 min walk to 23 St C E34 St-Hudson Yards 7, 13 min
- Developers
- JDS Development Group, Largo Investments
- Principals
- Nicholas Werner, Nissim Ben-Nun
- Average $/sf
- $2,997Homes in Schedule A, as first offered
- Offering price
- $161.4 million total $145.8 million when first offered
- Floor plans
- Page 3 of the plan
The sponsor of record is 514 West 24th Owner LLC, represented by Starr Associates, LLP. The offering plan runs 386 pages. The sponsor has filed 25 amendments, the latest in February 2022. The nearest other condo plan on file is 508 West 24th Street Condominium, next door.
Plan CD150088 · New · accepted Jul 31, 2015 · AG record ↗
Compare
| Figure | This building1 | 34 Prince27 units · 1.8 miaccepted 2015 | D'Orsay321 units · 0.7 miaccepted 2015 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $1.43Lowest | $1.77 | $2.04 |
| Average Offering PricePer Apartment | $8.9MIn line | $10.1M | $3.75M |
| Average PricePer Square Foot | $2,997Above peers | $2,964 | $2,577 |
| Average Unit SizeSquare Feet | 2,969 SFIn line | 3,408 SF | 1,454 SF |
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Unit mix, closings, budgets, finishes and the team, against 34 Prince and D'Orsay, cited to the offering plans. No credit card required.
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- 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.
Units & Prices
Closings Pro
| Homes closed100% of the homes in Schedule A | 14 of 14 |
| Closing prices vs. Schedule A14 homes: $103,312,954 at closing against $124,575,000 in Schedule A (p. 46) | −17.1% |
| Average closing price14 homes, on their Schedule A square feet | $2,486 / SF |
| Closingsfirst and latest recorded | Feb 21, 2020 – May 11, 2022 |
Sales recorded with the Department of Finance (ACRIS) through Jul 31, 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 15 closings
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| 6W | Feb 21, 2020 | $6,520,050 | $6,400,000 p. 46 | +1.9% |
| 3E | Feb 26, 2020 | $4,400,000 | $5,200,000 p. 46 | −15.4% |
| 4E | Feb 27, 2020 | $4,598,325 | $5,350,000 p. 46 | −14% |
| 5E | Mar 16, 2020 | $4,726,753 | $5,500,000 p. 46 | −14.1% |
| 7E | Mar 18, 2020 | $5,013,566 | $5,800,000 p. 46 | −13.6% |
| 3W | Dec 14, 2020 | $4,676,234 | $5,800,000 p. 46 | −19.4% |
| 6E | Dec 21, 2020 | $4,500,000 | $5,650,000 p. 46 | −20.4% |
| 5W | Feb 19, 2021 | $4,500,000 | $6,200,000 p. 46 | −27.4% |
| 7W | Apr 29, 2021 | $5,107,000 | $6,600,000 p. 46 | −22.6% |
| 4W | Jun 4, 2021 | $4,753,250 | $6,000,000 p. 46 | −20.8% |
| 2 | Aug 20, 2021 | $11,500,000 | $14,950,000 p. 46 | −23.1% |
| PH | Nov 30, 2021 | $15,250,000 | $18,750,000 p. 46 | −18.7% |
| 8 | Mar 15, 2022 | $15,008,275 | $16,500,000 p. 46 | −9% |
| RETAI | Mar 21, 2022 | $7,229,250 | — | — |
| 9 | May 11, 2022 | $12,759,500 | $15,875,000 p. 46 | −19.6% |
Pro
Closings are for subscribers
Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.
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
- 514 West 24th Owner LLC
- Developers
- JDS Development Group, Largo Investments
- Principals
- Nicholas Werner, Nissim Ben-Nun
- Counsel
- Starr Associates, LLP
- Tax estimate
- Podell, Schwartz, Schechter & Banfield, LLPPrepared the first-year real estate tax projection
- Construction lender
- Santander BankLender on the mortgage and building loan agreement recorded July 2015 in ACRIS; $57 million recorded
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- 508 West 24th Street Condominiumnext door · 15 units · 2013
- 519 West 23rd Street Condominiumnext door · 11 units · 2005
- High Line 23 Condominiumnext door · 11 units · 2007
- Vesta 24 Condominiumnext door · 22 units · 2004
- 503 West 24th Street Condominiumnext door · 6 units · 2016
- 245 10th Avenue Condominiumnext door · 19 units · 2006