West Condominium

The Building

Fine Print

What's Specific to It

• A car showroom below: the retail unit goes back to GIRT Realty, the company that sold the site to the sponsor. The plan expects, but doesn't guarantee, an automotive dealership there, with two vehicle elevators and four parking spaces for the retail unit's own use.
• A rooftop pool club: a stainless steel pool about 30 by 14 feet on the roof, with a terraced "stadium bleacher" pool deck, a fire pit, grills and eight cabanas you can buy as licenses.
• Guest suites: two small units, Unit A and Unit B, will belong to the condominium. Owners can rent them short-term for visitors under rules the board sets.
• Small homes: of the 219 homes for sale, 61 are studios and 104 are one-bedrooms. Only six are three-bedrooms.
• A non-union staff: the budget assumes staff who aren't union members, plus an outside operator, The Wright Fit, to run the pool and gym.
• Sponsor may rent instead of sell: the sponsor only commits to selling the 15% of homes needed to declare the plan effective (33 units), so owner-occupants may never control the board.

West Condominium fronts 11th Avenue and runs from West 47th to West 48th Street, with the residential entrance through a court on 47th Street. The site is in the Special Clinton District, and the building isn't landmarked. Its offering plan tells you what's inside the apartments, what the shared spaces are and who you'll share the building with.

Fine Print Worth Knowing

• You help buy the staff and guest units: at closing, each buyer pays a share of 35% of the $2.725 million price and closing costs of the resident manager's unit and the two guest units. The condo borrows the other 65%, about $1.87 million, from the sponsor. The sponsor won't refinance the loan when it comes due in 15 years, so owners could face an assessment then.
• Taxes will rise: first-year residential taxes are projected at about $3 million on a partly built assessment. Once the building is fully assessed, the plan estimates about $5.2 million for the residences. No tax abatement is described.
• The retail unit's rights: the retail owner can put signs on the facade below the second floor, equipment on parts of the roof, and use the sidewalk as a driveway or loading dock. It can also split up its unit or connect it to a neighboring property without the board's consent.
• A slow final certificate: more than 15% of the building is commercial space likely to be leased unfinished, so the plan expects a permanent certificate of occupancy for the whole building to be significantly delayed.
• Lockers and cabanas: extra lockers and cabanas are licenses, not deeded units. You can only pass them to another owner in the building, and the sponsor keeps the sale money. Neither the locker rooms nor the cabanas are on the emergency generator.
• Backup power is brief: a natural-gas Generac generator is sized to run at least 90 minutes. The plan warns its monthly tests can be loud.
• A managing agent tied to the sponsor: ERPM Company's owners are affiliated with CB Developers, a sponsor affiliate, and with the sponsor's closing attorneys. The contract runs three years, then can be canceled on 60 days' notice.

FAQ

Does West Condominium have a pool?

Yes. The roof has a heated stainless steel pool about 30 by 14 feet and about 4 feet deep, with a terraced deck, a fire pit, grills and eight cabanas sold as licenses. The plan warns the pool may not open until 24 months after the first closing.

Is there parking at 547 West 47th Street?

Not for residents. The sub-cellar garage has four spaces, and they belong to the retail unit. Each home comes with an assigned storage or bicycle locker instead, and 51 more lockers were offered as licenses for $7,000 to $26,000.

What will be in the retail space?

The retail unit goes to GIRT Realty, which sold the site to the sponsor. The plan expects, but doesn't guarantee, that GIRT will use it for an automotive dealership, and the zoning allows an automotive showroom as of right.

Where this comes from: the building's offering plan (CD180479) as filed with the New York Attorney General, including its Special Risks, Introduction, Description of Property and Improvements, architect's report, Schedule A, Schedule B and Identity of Parties. Prices are the sponsor's offering prices, not sales, and budget figures are the sponsor's first-year projections. Later amendments may change them. Updated October 2026.