THE CONDO BOOK PROJECT

San Giorgio Condominium

57 West 127th Street, Manhattan, NY 10027

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Overview

Units
6 residential
Subway
3 min walk to 125 St 2 3135 St 2 3, 9 min
Principals
Eleonora Sbarbaro, Ferruccio Sbarbaro, Giorgio Sbarbaro, Maurizio Principato, Paola Querini
Average $/sf
$908Homes in Schedule A, as first offered
Common charges
$463–$695 a monthSponsor's first-year estimate in Schedule A, December 1, 2014 – November 30, 2015
Offering price
$5.22 million total

The sponsor of record is Harrest Capital Srl, represented by Scarola Malone & Zubatov LLP. The offering plan runs 271 pages. The sponsor has filed 2 amendments, the latest in January 2016. The nearest other condo plan on file is 50 West, next door.

Plan CD140068 · Rehab · accepted Nov 17, 2014 · AG record ↗

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FigureThis building1Maurice24 units · 0.5 miaccepted 2015150 West 77th34 units · 2.6 miaccepted 2014
Common ChargesPer Square Foot / Month$0.64In line$0.88$0.56
Average Offering PricePer Apartment$870,833Lowest$1.09M$2.39M
Average PricePer Square Foot$908Below peers$1,015$1,557
Average Unit SizeSquare Feet959 SFSmaller1,079 SF1,536 SF

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Unit mix, closings, budgets, finishes and the team, against Maurice and 150 West 77th, 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 A6 of 6
Closing prices vs. Schedule A5 homes: $3,888,306 at closing against $4,565,000 in Schedule A (p. 39)−14.8%
Average closing price5 homes, on their Schedule A square feet$767 / SF
Closingsfirst and latest recordedNov 2, 2015 – Jan 7, 2016

Sales recorded with the Department of Finance (ACRIS) through Jun 30, 2025: 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 6 closings
HomeRecordedClosing priceSchedule ADifference
5Nov 2, 2015$672,045$850,000 p. 39−20.9%
4Nov 3, 2015$865,513$902,000 p. 39−4%
3Nov 12, 2015$903,167$913,000 p. 39−1.1%
GNov 23, 2015$959,192——
1Nov 25, 2015$534,581$990,000 p. 39−46%
2Jan 7, 2016$913,000$910,000 p. 39+0.3%

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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
Harrest Capital Srl
Principals
Eleonora Sbarbaro, Ferruccio Sbarbaro, Giorgio Sbarbaro, Maurizio Principato, Paola Querini
Tax estimate
SCAROLA MALONE & ZUBATOV LLPPrepared the first-year real estate tax projection

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

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