THE CONDO BOOK PROJECT

Lindley Condominium

591 Third Avenue, Manhattan, NY 10016

Overview

Units
74 residential · 16 storage · 1 commercial
Subway
4 min walk to Grand Central-42 St 4 5 6 7 S33 St 6, 9 min
Principals
Charles Blaichman, Scott Shnay, Michael Barry, Abram Shnay, David Barry
Average $/sf
$1,876Homes in Schedule A, as first offered
Common charges
$812–$2,233 a monthSponsor's first-year estimate in Schedule A, January 1, 2018 - December 31, 2018
Offering price
$145.5 million total $141.1 million when first offered

The sponsor of record is 587-91 Third Owner LLC, represented by Hirschen Singer & Epstein LLP. The offering plan runs 438 pages. The sponsor has filed 22 amendments, the latest in January 2023. The nearest other condo plan on file is 153-155 East 37th Street Condominium, next door.

Plan CD160175 · New · accepted Dec 5, 2016 · AG record ↗

Compare

FigureThis building1Charlie West2123 units · 1.3 miaccepted 2017200 East 21st367 units · 0.9 miaccepted 2017
Common ChargesPer Square Foot / Month$1.44Highest$1.09$1.01
Average Offering PricePer Apartment$1.69MLowest$2.2M$3.1M
Average PricePer Square Foot$1,876Below peers$1,966$2,247
Average Unit SizeSquare Feet899 SFSmallest1,114 SF1,379 SF

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Unit mix, closings, budgets, finishes and the team, against Charlie West and 200 East 21st, 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 closed97% of the homes in Schedule A72 of 74
Closing prices vs. Schedule A71 homes: $116,051,748 at closing against $120,856,000 in Schedule A (p. 48, p. 49)−4%
Average closing price71 homes, on their Schedule A square feet$1,807 / SF
Closingsfirst and latest recordedAug 16, 2018 – Mar 20, 2026

Sales recorded with the Department of Finance (ACRIS) through Jun 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 72 closings
HomeRecordedClosing priceSchedule ADifference
12DAug 16, 2018$990,703$970,000 p. 49+2.1%
9ASep 13, 2018$1,494,736$1,445,000 p. 48+3.4%
4AOct 4, 2018$1,406,291$1,345,000 p. 48+4.6%
6AOct 4, 2018$1,430,641$1,385,000 p. 48+3.3%
9EOct 4, 2018$972,429$955,000 p. 48+1.8%
10COct 4, 2018$1,403,094$1,375,000 p. 48+2%
10DOct 4, 2018$989,040$960,000 p. 48+3%
7AOct 5, 2018$1,479,463$1,405,000 p. 48+5.3%
8BOct 5, 2018$1,445,915$1,375,000 p. 48+5.2%
11AOct 5, 2018$2,130,000$2,130,000 p. 480%
12BOct 5, 2018$2,441,712$2,410,000 p. 48+1.3%
7EOct 10, 2018$965,486$945,000 p. 48+2.2%
19AOct 10, 2018$2,899,921$2,845,000 p. 49+1.9%
11DOct 11, 2018$982,611$965,000 p. 48+1.8%
15COct 11, 2018$1,532,466$1,455,000 p. 49+5.3%
5AOct 12, 2018$1,392,911$1,365,000 p. 48+2%
7COct 15, 2018$1,405,185$1,380,000 p. 48+1.8%
8AOct 15, 2018$1,471,371$1,425,000 p. 48+3.3%
7DOct 18, 2018$1,389,911$1,315,000 p. 48+5.7%
9COct 18, 2018$1,448,915$1,420,000 p. 48+2%
6EOct 19, 2018$960,155$940,000 p. 48+2.1%
10BOct 19, 2018$2,392,888$2,350,000 p. 48+1.8%
11BOct 19, 2018$2,423,435$2,380,000 p. 48+1.8%
17AOct 19, 2018$2,952,925$2,900,000 p. 49+1.8%
5BOct 22, 2018$1,387,820$1,315,000 p. 48+5.5%
5COct 24, 2018$1,383,535$1,340,000 p. 48+3.2%
5DOct 24, 2018$1,339,415$1,275,000 p. 48+5.1%
20COct 24, 2018$1,761,573$1,730,000 p. 49+1.8%
9DOct 30, 2018$1,408,185$1,355,000 p. 48+3.9%
14DOct 30, 2018$992,794$975,000 p. 49+1.8%
3BNov 1, 2018$1,344,090$1,275,000 p. 48+5.4%
8DNov 5, 2018$1,362,364$1,335,000 p. 48+2%
4ENov 6, 2018$946,973$930,000 p. 48+1.8%
16ANov 6, 2018$3,334,769$3,200,000 p. 49+4.2%
17CNov 6, 2018$1,700,478$1,670,000 p. 49+1.8%
3ANov 14, 2018$1,525,284$1,450,000 p. 48+5.2%
4BNov 14, 2018$1,321,634$1,296,000 p. 48+2%
14CNov 15, 2018$1,445,000$1,435,000 p. 49+0.7%
9BNov 21, 2018$1,466,280$1,395,000 p. 48+5.1%
15DNov 27, 2018$997,885$980,000 p. 49+1.8%
12CDec 4, 2018$1,501,919$1,415,000 p. 48+6.1%
21ADec 6, 2018$3,190,122$3,130,000 p. 49+1.9%
4DDec 12, 2018$1,303,360$1,255,000 p. 48+3.9%
19BDec 12, 2018$2,204,511$2,305,000 p. 49−4.4%
8CJan 8, 2019$1,428,550$1,400,000 p. 48+2%
5EFeb 4, 2019$896,060$935,000 p. 48−4.2%
11CFeb 28, 2019$1,415,000$1,395,000 p. 48+1.4%
18AMar 29, 2019$2,701,363$2,950,000 p. 49−8.4%
8EApr 19, 2019$960,000$950,000 p. 48+1.1%
16CMay 15, 2019$1,588,000$1,650,000 p. 49−3.8%
3DMay 23, 2019$1,275,813$1,250,000 p. 48+2.1%
20AJun 26, 2019$2,450,000$2,725,000 p. 49−10.1%
12AJul 22, 2019$1,840,000$2,160,000 p. 48−14.8%
14AAug 15, 2019$2,020,000$2,190,000 p. 49−7.8%
4CDec 16, 2019$1,100,000$1,320,000 p. 48−16.7%
2AJan 10, 2020$1,936,675$2,270,000 p. 48−14.7%
18CJan 15, 2020$1,560,000$1,690,000 p. 49−7.7%
16BFeb 25, 2020$2,100,000$2,225,000 p. 49−5.6%
21BJun 16, 2020$2,295,000$2,830,000 p. 49−18.9%
19CSep 14, 2020$1,415,000$1,710,000 p. 49−17.3%
2BOct 21, 2020$1,470,000$1,595,000 p. 48−7.8%
15BMay 21, 2021$1,950,000$2,470,000 p. 49−21.1%
14BJun 18, 2021$2,023,429$2,440,000 p. 49−17.1%
17BOct 21, 2021$1,780,000$2,255,000 p. 49−21.1%
18BOct 21, 2021$1,766,667$2,285,000 p. 49−22.7%
20BOct 29, 2021$1,830,000$2,325,000 p. 49−21.3%
10ANov 12, 2021$1,610,000$2,100,000 p. 48−23.3%
21CDec 3, 2021$1,650,000$1,760,000 p. 49−6.2%
15ADec 14, 2021$1,800,000$2,220,000 p. 49−18.9%
7BMay 20, 2022$1,335,000$1,355,000 p. 48−1.5%
3CMay 16, 2024$1,535,000$1,900,000 p. 48−19.2%
RETAIMar 20, 2026$6,250,000——

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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
587-91 Third Owner LLC
Principals
Charles Blaichman, Scott Shnay, Michael Barry, Abram Shnay, David Barry
Tax estimate
Tuchman, Korngold, Weiss, Liebman & Gelles, LLPPrepared the first-year real estate tax projection
Construction lender
Bank of America$63.5 million recorded

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