THE CONDO BOOK PROJECT

609 2nd Avenue Condominium

609 2nd Avenue, Manhattan, NY 10016

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Overview

Nolen is an 18-story new condo at 609 2nd Avenue with 65 homes, from studios to two-bedroom penthouses. Its offering plan details Miele and Fisher & Paykel kitchens, a half basketball court, a roof terrace, a small first-year budget mostly spent on staff, and a transit easement for the future Second Avenue Subway.

  • What it is: new construction, 18 stories plus a cellar, on a lot of about 8,000 sq ft. The plan expected the first closing around January 1, 2025, subject to delays.
  • Size: 65 homes, 1 commercial unit and 5 storage bins. No parking. Up to five homes per floor.
  • Mix: 14 studios, 29 one-bedrooms and 22 two-bedrooms, including the four penthouses. There are no three-bedroom homes.
  • Offering prices: from $975,000 for the smallest studios to $3,975,000 for PH1, about $105 million in total. These are the original asking prices, not sales. The sponsor has filed amendments since, and they may have changed prices.
  • Common charges: about $590 to $2,170 a month under the first-year budget. Estimated property taxes add about $460 to $1,710 a month.
  • Getting around: the plan lists the 3, 4, 5, 6 and 7 subway lines, buses, and the NYC Ferry at East 34th Street.

Compare

FigureThis building1Hendrix House259 units · 0.4 miaccepted 2024517 West 29th360 units · 1.5 miaccepted 2024
Common ChargesPer Square Foot / Month$1.43In line$1.72$1.40
Average Offering PricePer Apartment$1.62MIn line$1.47M$1.73M
Average PricePer Square Foot$2,177Above peers$2,069$2,102
Average Unit SizeSquare Feet742 SFIn line708 SF824 SF

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Unit mix, closings, budgets, finishes and the team, against Hendrix House and 517 West 29th, 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 closed0% of the homes in Schedule A0 of 65

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.

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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.

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Budget

What It Costs to Run

The sponsor projects a first-year budget of about $828,000 for 2025. Homeowners carry about $804,000 of it:

Budget lineApprox. first-year cost
Labor (paid to the managing agent)$523,000
Service contracts$56,000
Management fee$55,000
Insurance$51,000
Common-area electricity$37,000
Water and sewer$34,000
Repairs and supplies$25,000
Gas$22,000
Reserve fund$15,000

Labor is about 63% of the budget. The electricity, gas and water lines were cut by 25% to 30% from the engineer's estimates, on the view that the building won't be full in its first year. The plan says to expect those lines to rise as homes fill.

Taxes are also likely to climb. The tax estimate is about $613,000 for the homes in the first budget year and about $797,000 for the first full year after construction. The plan doesn't count the city's co-op and condo abatement, because it isn't clear owners will qualify. Read more on what common charges should be and condo reserve funds.

Good to know: at closing you pay one month of common charges to working capital and another month to the reserve fund. You also pay the city and state transfer taxes, which normally fall on the seller, and $3,000 to the sponsor's attorney for closing documents.

From our research: The Sponsor's Condo-Creation Fee in NYC · NYC Condo Insurance Costs Are Rising · Condo Supplies Cost per Unit, by Size

The Building

Finishes

Kitchens

Kitchens pair Miele cooking with Fisher & Paykel refrigerators. Each layout has a gas cooktop and an electric wall oven.

  • Appliances: a Miele gas cooktop, Miele convection oven and speed oven, a Faber hood, a Miele dishwasher and a Fisher & Paykel refrigerator (24 or 30 inches, depending on the layout).
  • Extras: a Waste King disposer and quartz counters. Five larger homes get a Zephyr beverage cooler: 1103, 1203, 1403, 1503 and PH1.
  • Penthouses: PH2, PH3 and PH4 get upgraded Miele oven models.

Bathrooms

Toilets are wall-hung Caroma units with in-wall tanks. Fittings are from Fluid. Vanities are custom wood veneer with an integrated matte-white solid-surface sink. Primary baths use large-format porcelain on the walls and floors. Secondary baths have white ceramic tile around the tub.

Floors, Windows and Laundry

  • Floors: engineered white oak from Terra Legno, glued over an acoustic underlayment.
  • Windows: Schuco casement and picture windows with insulated low-E glass.
  • Laundry: a stacked washer and ventless electric dryer in every home. There's no shared laundry room.

Heating, Cooling and Utilities

Each home has its own heat pump, with air handlers in the ceilings and condensers on the roof. A programmable thermostat lets you switch between heat and cooling. Each home has its own Con Edison electric meter, so you pay for your own heat and cooling. The engineer's estimate puts a typical one-bedroom at about $283 a month in electricity and a two-bedroom at about $358. Hot water comes from central gas heaters. Its cost, and the gas for cooking, are paid through common charges. Compare with NYC condo finishes since 2010.

Amenities, Staffing & Transportation

For a 65-unit building the list is modest but varied:

  • Cellar: a fitness room of about 660 sq ft with equipment, and a residents' lounge of about 670 sq ft.
  • 4th floor: a double-height room of about 970 sq ft with a half basketball court and an open exercise area with no equipment.
  • Courtyard: a ground-floor courtyard of about 480 sq ft (37 by 21 feet), off the elevator lobby, with evergreen planters.
  • Roof: a shared roof terrace of about 920 sq ft. Gas grills on the main roof share a meter with the kitchen cooktops.
  • Other: a bike room of about 470 sq ft with at least 33 racks, a mail room, a package room and two elevators.

Good to know: the architect's report puts the bike room on the 3rd floor, but the plan's list of shared spaces puts it in the cellar. The board can set fees and deposits for the shared spaces. Smoking is banned in all common areas, and also on private balconies and terraces.

Tip: the five storage bins in the cellar range from 11 to 32 sq ft. They're licensed, not owned, for $15,600 to $22,600. Each also carries a monthly fee of about $14 to $41. Compare with amenities by building size.

Staffing and Services

The budget footnote says the managing agent, Monarch Realty Group Holdings, will supply all staff, so the condo has no employees of its own. It lists:

  • 1 full-time superintendent
  • 2 full-time porters
  • 4 full-time concierges covering the desk 24 hours a day, 7 days a week

Watch for: the same footnote says owners must take out their own trash and sweep the hall outside their door. It says other services will be hired as needed, and it mentions a "Part-Time Super/Porter". Ask the sponsor which staffing plan is current. Staff is expected to be paid prevailing wage. See where common charges go.

Transportation

  • Subway: 7 min walk to 33 St 6; 28 St 6, 11 min

Fine Print

What's Specific to It

  • A subway easement. The building sits in a special transit zone. Under a 2021 agreement, the MTA can take part of the property for the planned 34th Street station on the Second Avenue line. Owners give up claims over noise, vibration, odor and light from the subway.
  • No resident super promised. The budget footnote names a full staff. The same footnote says owners take out their own trash and sweep outside their door. More on this below.
  • A small first-year reserve. The budget puts $15,000 a year into reserves. At closing, each buyer adds one month of common charges to the reserve fund.
  • Penthouses take whole floors. PH1 to PH4 each fill one of the top four floors. PH1 has a terrace of about 1,044 sq ft.

Listing photos of Nolen show the finishes. The offering plan is the document the developer filed with the New York Attorney General. It tells you how the building will be run and what you sign up for when you buy. New to these documents? Start with what a condo offering plan is.

Fine Print Worth Knowing

  • Board control. The sponsor names every residential board member until all homes are sold, and there's no time limit on selling them. Its control over spending and fees ends after five years, or sooner once unsold homes fall below 25% of the common interest.
  • The subway easement. If the MTA takes possession of its space, that space becomes a shared area, and owners pay any costs the MTA doesn't. The plan expects any rise in costs to be small, since the space is under 5% of the building.
  • No warranty. The building is over five stories, so New York's implied warranty for new homes doesn't apply. Homes are sold as-is, though the sponsor must build to code and the filed plans. See the new-construction punch list.
  • No mortgage contingency. If you can't get a loan, you can lose your 10% deposit.
  • Quick resale fee. If you resell within 18 months of closing, you owe the sponsor 10% of your profit.
  • Lot line windows. Some north- and south-facing windows sit on the property line above the four-story buildings next door. They may have to be closed if a neighbor builds. If a window is part of your home, the cost is yours.
  • The commercial unit. The sponsor keeps it, may use it for anything zoning allows, and can put up signs. Owners have no say in how it's used.
  • Floor numbers. Schedule A lists unit 1401 on the 13th floor, so marketing floor numbers skip 13.

Team

The plan doesn't name an interior designer.

Nearby

FAQ

How much are common charges at Nolen?

Under the first-year budget, about $590 a month for the smallest studios and about $2,170 for PH1. Estimated property taxes add about $460 to $1,710 a month, and the plan expects taxes to rise after the first year.

Does Nolen have a gym or a pool?

There's an equipped fitness room in the cellar, plus a 4th-floor room with a half basketball court. There's no pool.

What is the subway easement at 609 2nd Avenue?

The MTA holds a permanent easement over part of the lot for the planned 34th Street station on the Second Avenue Subway. The plan says the sponsor doesn't know if or when the MTA will use it. Owners waive claims over subway noise, vibration and odor.

Is there in-unit laundry?

Yes. Every home has a stacked washer and ventless dryer, and the building has no shared laundry room.

Where this comes from: the building's offering plan (CD230304), filed with the New York Attorney General, including its Schedule A price list, Schedule B first-year budget and the architect's description of property. Amendments filed since were not reviewed here and may change prices, dates or budget figures. Prices are the sponsor's original offering prices, not sales. Updated October 2026.