520 West 28th Condominium
520 West 28th Street, Manhattan, NY 10001
Overview
- Units
- 40 residential · 1 commercial
- Subway
- 8 min walk to 34 St-Hudson Yards 723 St C E, 11 min
- Developers
- The Related Companies, L.P., The Related Realty Group, Inc., Related Management Company, L.P., Related Sales LLC, Related Construction LLC
- Principals
- Jeff T. Blau, Stephen M. Ross, Bruce A. Beal, Jr., Gregory Gushee
- Offering price
- $392 million total $408.4 million when first offered
- Floor plans
- Page 326 of the plan
The sponsor of record is 28th Highline Associates L.L.C., represented by Kramer Levin Naftalis & Frankel LLP. The offering plan runs 517 pages. The sponsor has filed 23 amendments, the latest in November 2022. The nearest other condo plan on file is Jardim Condominium, next door.
Plan CD140111 · New · accepted Jun 16, 2015 · AG record ↗
Compare
| Figure | This building1 | 160 Leroy247 units · 1.5 miaccepted 2015 | 118 East 59th329 units · 1.9 miaccepted 2015 |
|---|---|---|---|
| Average Offering PricePer Apartment | $10.21MHighest | $8.01M | $7.79M |
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Unit mix, closings, budgets, finishes and the team, against 160 Leroy and 118 East 59th, 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.
Closings Pro
| Homes closed100% of the homes in the plan | 40 of 40 |
| Closingsfirst and latest recorded | Jun 26, 2017 – May 24, 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 40 closings
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| 14 | Jun 26, 2017 | $6,198,750 | — | — |
| 9 | Jun 27, 2017 | $6,033,272 | — | — |
| 21 | Jul 11, 2017 | $9,366,309 | — | — |
| 17 | Jul 26, 2017 | $4,987,834 | — | — |
| 22 | Jul 26, 2017 | $5,070,294 | — | — |
| 18 | Jul 27, 2017 | $5,191,484 | — | — |
| 31 | Jul 27, 2017 | $7,250,000 | — | — |
| 19 | Jul 28, 2017 | $6,398,500 | — | — |
| 35 | Jul 31, 2017 | $10,124,044 | — | — |
| 7 | Aug 2, 2017 | $4,937,074 | — | — |
| 4 | Aug 9, 2017 | $7,165,843 | — | — |
| 15 | Aug 21, 2017 | $14,504,000 | — | — |
| 24 | Oct 30, 2017 | $15,313,889 | — | — |
| 6 | Dec 19, 2017 | $6,453,750 | — | — |
| 28 | Jun 12, 2018 | $14,500,000 | — | — |
| 25 | Oct 17, 2018 | $8,960,009 | — | — |
| 29 | Jun 25, 2019 | $8,329,281 | — | — |
| 12 | Jun 28, 2019 | $3,800,000 | — | — |
| 3 | May 13, 2020 | $4,173,000 | — | — |
| 11 | Jun 1, 2020 | $6,700,000 | — | — |
| 16 | Jun 12, 2020 | $6,850,000 | — | — |
| 13 | Jul 8, 2020 | $3,928,750 | — | — |
| 27 | Aug 20, 2020 | $8,000,000 | — | — |
| PH37 | Sep 18, 2020 | $20,207,500 | — | — |
| 8 | Oct 19, 2020 | $3,600,000 | — | — |
| 1 | Apr 22, 2021 | $12,600,000 | — | — |
| 23 | Jun 15, 2021 | $7,680,000 | — | — |
| PH39 | Jun 21, 2021 | $10,937,500 | — | — |
| 26 | Jun 22, 2021 | $3,785,000 | — | — |
| 34 | Aug 4, 2021 | $12,069,000 | — | — |
| 36 | Sep 23, 2021 | $9,450,000 | — | — |
| PH38 | Sep 28, 2021 | $8,850,000 | — | — |
| 2 | Nov 22, 2021 | $3,850,000 | — | — |
| 5 | Mar 3, 2022 | $4,500,000 | — | — |
| 30 | Mar 17, 2022 | $4,200,000 | — | — |
| 20 | Apr 27, 2022 | $12,500,000 | — | — |
| 33 | Jul 20, 2022 | $7,525,000 | — | — |
| RM | Oct 24, 2022 | $2,545,625 | — | — |
| 10 | Apr 20, 2023 | $9,400,000 | — | — |
| 32 | May 24, 2023 | $13,165,800 | — | — |
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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
- 28th Highline Associates L.L.C.
- Developers
- The Related Companies, L.P., The Related Realty Group, Inc., Related Management Company, L.P., Related Sales LLC, Related Construction LLC
- Principals
- Jeff T. Blau, Stephen M. Ross, Bruce A. Beal, Jr., Gregory Gushee
- Tax estimate
- Marcus & Pollack LLPPrepared the first-year real estate tax projection
- Construction lenders
- Bank of America, Santander Bank, MUFG Union Bank$162 million loan stated in the plan
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- Jardim Condominiumnext door · 36 units · 36 parking · 2016
- 520 West 27th Street Condominiumnext door · 0 units · 12 parking · 2006
- 540 West 28th Street Condominiumnext door · 88 units · 2008
- Soori Highline Condominiumnext door · 27 units · 1 parking · 2014
- No. 29 Condominiumnext door · 6 units · 2019
- 515 West 29 Condominiumnext door · 12 units · 2014