THE CONDO BOOK PROJECT

536 East 13th Street Condominium

536 East 13th Street, Manhattan, NY 10009

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Overview

Units
11 residential
Subway
3 min walk to 1 Av L3 Av L, 11 min
Average $/sf
$1,594Homes in Schedule A, as first offered
Common charges
$424–$892 a monthSponsor's first-year estimate in Schedule A, July 1, 2015 to June 30, 2015
Offering price
$2.29 million total $14.3 million when first offered

The sponsor of record is 536 E 13 LLC, represented by Allen, Morris & Troisi LLP. The offering plan runs 214 pages. The sponsor has filed 9 amendments, the latest in March 2018. The nearest other condo plan on file is Avant, next door.

Plan CD140267 · New · accepted Mar 23, 2015 · AG record ↗

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FigureThis building1179 Ludlow26 units · 0.6 miaccepted 2014171 Henry320 units · 1.2 miaccepted 2015
Common ChargesPer Square Foot / Month$0.63Lowest$0.76$0.78
Average Offering PricePer Apartment$1.31MIn line$1.83M$1.11M
Average PricePer Square Foot$1,594In line$1,660$1,229
Property TaxesPer Square Foot / Month$1.01Above peers$1.00$0.78
Average Unit SizeSquare Feet821 SFSmaller1,103 SF900 SF

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Unit mix, closings, budgets, finishes and the team, against 179 Ludlow and 171 Henry, 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 A11 of 11
Closing prices vs. Schedule A11 homes: $16,708,464 at closing against $14,400,000 in Schedule A (p. 18, p. 19, p. 20)+16%
Average closing price11 homes, on their Schedule A square feet$1,850 / SF
Closingsfirst and latest recordedApr 28, 2016 – Aug 22, 2018

Sales recorded with the Department of Finance (ACRIS) through Apr 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 11 closings
HomeRecordedClosing priceSchedule ADifference
6FApr 28, 2016$1,578,288$1,400,000 p. 19+12.7%
3FMay 5, 2016$1,272,813$1,100,000 p. 18+15.7%
6RMay 11, 2016$1,629,200$1,450,000 p. 20+12.4%
3RJun 6, 2016$1,272,813$1,200,000 p. 18+6.1%
5FJun 24, 2016$1,603,744$1,350,000 p. 19+18.8%
4FJul 13, 2016$1,486,645$1,150,000 p. 19+29.3%
5RJul 18, 2016$1,549,777$1,300,000 p. 19+19.2%
2FJul 26, 2016$1,323,725$1,050,000 p. 18+26.1%
4ROct 11, 2016$1,478,499$1,250,000 p. 19+18.3%
2RJan 5, 2017$1,400,094$1,150,000 p. 18+21.7%
1Aug 22, 2018$2,112,869$2,000,000 p. 18+5.6%

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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
536 E 13 LLC
Tax estimate
The Mazursky GroupPrepared the first-year real estate tax projection
Construction lender
Popular Bank$5.75 million loan stated in the plan

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

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