THE CONDO BOOK PROJECT

Plaza Hotel - Condominiums

768 Fifth Avenue, Manhattan, NY 10019

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Overview

Units
181 residential · 3 commercial
Subway
3 min walk to 5 Av/59 St N R W57 St M, 3 min
Principals
Miki Naftali, Orly Hackmon
Average $/sf
$3,138Homes in Schedule A, as first offered
Offering price
$365.6 million total

The sponsor of record is Cps 1 Realty LP, represented by Kramer Levin Naftalis & Frankel LLP. The offering plan runs 727 pages. The sponsor has filed 12 amendments, the latest in July 2011. The nearest other condo plan on file is One Central Park South Tower Aol Time Warner *, next door.

Plan CD060068 · New · accepted Jun 20, 2006 · AG record ↗

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FigureThis building1Harrison2133 units · 1.2 miaccepted 2007260 Park Avenue South3110 units · 0.6 miaccepted 2004
Common ChargesPer Square Foot / Month$12.89 ⚠Highest$1.29$0.81
Average Offering PricePer Apartment$2.41MIn line$2.46M$1.52M
Average PricePer Square Foot$3,138Highest$1,797$1,013
Average Unit SizeSquare Feet767 SFSmallest1,371 SF1,501 SF

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Unit mix, closings, budgets, finishes and the team, against Harrison and 260 Park Avenue South, 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.

⚠ Read from a partly legible Schedule B.

Closings Pro

Homes closed95% of the homes in Schedule A145 of 152
Closing prices vs. Schedule A50 homes: $137,367,077 at closing against $127,260,000 in Schedule A (p. 75, p. 76, p. 77, p. 78)+7.9%
Average closing price50 homes, on their Schedule A square feet$3,379 / SF
Closingsfirst and latest recordedDec 27, 2007 – Nov 26, 2012

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 145 closings
HomeRecordedClosing priceSchedule ADifference
1238Dec 27, 2007$1,864,753$1,675,000 p. 75+11.3%
1237Apr 4, 2008$1,487,745$1,450,000 p. 75+2.6%
1241Apr 8, 2008$1,928,938$1,770,000 p. 75+9%
1326Apr 10, 2008$1,807,507$1,800,000 p. 75+0.4%
1337Apr 10, 2008$1,410,476$1,400,000 p. 76+0.7%
1126Apr 11, 2008$1,595,714$1,585,000 p. 75+0.7%
1239Apr 11, 2008$3,019,565$2,905,000 p. 75+3.9%
1338Apr 15, 2008$1,716,001$1,700,000 p. 76+0.9%
1140Apr 16, 2008$3,341,962$3,100,000 p. 75+7.8%
1141Apr 16, 2008$1,887,728$1,730,000 p. 75+9.1%
1329Apr 16, 2008$2,057,978$2,045,000 p. 75+0.6%
1136Apr 17, 2008$1,506,474$1,495,000 p. 75+0.8%
1430Apr 17, 2008$2,685,080$2,490,000 p. 76+7.8%
1341Apr 18, 2008$1,717,737$1,705,000 p. 76+0.7%
1441Apr 18, 2008$1,753,795$1,740,000 p. 76+0.8%
1438Apr 24, 2008$1,767,514$1,750,000 p. 76+1%
1330Apr 25, 2008$2,432,669$2,420,000 p. 75+0.5%
1427Apr 25, 2008$2,065,272$2,000,000 p. 76+3.3%
1332Apr 28, 2008$1,545,139$1,595,000 p. 75−3.1%
1421May 5, 2008$3,038,848$2,865,000 p. 76+6.1%
1523May 5, 2008$5,412,259$4,630,000 p. 76+16.9%
1527May 5, 2008$2,060,120$2,045,000 p. 76+0.7%
1437May 8, 2008$1,461,988$1,425,000 p. 76+2.6%
1139May 9, 2008$2,947,448$2,835,000 p. 75+4%
1321May 9, 2008$2,829,448$2,805,000 p. 75+0.9%
1221May 15, 2008$3,545,472$2,900,000 p. 75+22.3%
1223May 15, 2008$5,376,201$4,600,000 p. 75+16.9%
1229May 15, 2008$2,145,549$2,130,000 p. 75+0.7%
1323May 15, 2008$5,185,604$4,440,000 p. 75+16.8%
1423May 15, 2008$5,839,813$4,535,000 p. 76+28.8%
1240May 23, 2008$3,182,273$3,150,000 p. 75+1%
1521May 28, 2008$3,581,531$2,925,000 p. 76+22.4%
1621May 28, 2008$4,019,387$2,980,000 p. 77+34.9%
1623May 28, 2008$6,102,527$4,735,000 p. 77+28.9%
1640May 28, 2008$3,748,910$3,700,000 p. 77+1.3%
1641May 28, 2008$1,841,367$1,825,000 p. 77+0.9%
1327Jun 9, 2008$2,024,062$1,960,000 p. 75+3.3%
1740Jun 26, 2008$4,101,807$3,800,000 p. 77+7.9%
1730Jul 9, 2008$2,641,173$2,655,000 p. 77−0.5%
1741Jul 16, 2008$1,839,965$1,685,000 p. 77+9.2%
1723Jul 17, 2008$4,872,047$4,825,000 p. 77+1%
1429Jul 18, 2008$2,161,003$2,090,000 p. 76+3.4%
1721Jul 25, 2008$3,223,014$3,035,000 p. 77+6.2%
1938Sep 15, 2008$2,282,639$2,250,000 p. 78+1.5%
1940Sep 15, 2008$4,057,985$4,000,000 p. 78+1.4%
1821Sep 19, 2008$3,290,799$3,095,000 p. 77+6.3%
1133Sep 24, 2008$1,710,845$1,750,000 p. 75−2.2%
1835Sep 29, 2008$1,676,196$1,625,000 p. 78+3.2%
1529Oct 2, 2008$2,114,641$2,140,000 p. 76−1.2%
1336Oct 20, 2008$1,460,113$1,470,000 p. 76−0.7%
1127Nov 26, 2012$99,700,000one deed, 96 homes$2,440,000 p. 75—
1129Nov 26, 2012$99,700,000one deed, 96 homes$2,395,000 p. 75—
1130Nov 26, 2012$99,700,000one deed, 96 homes$2,460,000 p. 75—
1131Nov 26, 2012$99,700,000one deed, 96 homes$2,445,000 p. 75—
1132Nov 26, 2012$99,700,000one deed, 96 homes$1,565,000 p. 75—
1134Nov 26, 2012$99,700,000one deed, 96 homes$2,000,000 p. 75—
1135Nov 26, 2012$99,700,000one deed, 96 homes$1,840,000 p. 75—
1137Nov 26, 2012$99,700,000one deed, 96 homes$1,420,000 p. 75—
1138Nov 26, 2012$99,700,000one deed, 96 homes$1,650,000 p. 75—
1226Nov 26, 2012$99,700,000one deed, 96 homes$1,880,000 p. 75—
1227Nov 26, 2012$99,700,000one deed, 96 homes$2,030,000 p. 75—
1230Nov 26, 2012$99,700,000one deed, 96 homes$2,515,000 p. 75—
1231Nov 26, 2012$99,700,000one deed, 96 homes$2,495,000 p. 75—
1232Nov 26, 2012$99,700,000one deed, 96 homes$1,595,000 p. 75—
1233Nov 26, 2012$99,700,000one deed, 96 homes$1,785,000 p. 75—
1234Nov 26, 2012$99,700,000one deed, 96 homes$2,045,000 p. 75—
1235Nov 26, 2012$99,700,000one deed, 96 homes$1,885,000 p. 75—
1236Nov 26, 2012$99,700,000one deed, 96 homes$1,525,000 p. 75—
1331Nov 26, 2012$99,700,000one deed, 96 homes$2,405,000 p. 75—
1333Nov 26, 2012$99,700,000one deed, 96 homes$1,725,000 p. 75—
1334Nov 26, 2012$99,700,000one deed, 96 homes$1,965,000 p. 75—
1335Nov 26, 2012$99,700,000one deed, 96 homes$1,815,000 p. 76—
1339Nov 26, 2012$99,700,000one deed, 96 homes$2,790,000 p. 76—
1340Nov 26, 2012$99,700,000one deed, 96 homes$3,200,000 p. 76—
1426Nov 26, 2012$99,700,000one deed, 96 homes$1,845,000 p. 76—
1431Nov 26, 2012$99,700,000one deed, 96 homes$2,460,000 p. 76—
1432Nov 26, 2012$99,700,000one deed, 96 homes$1,570,000 p. 76—
1433Nov 26, 2012$99,700,000one deed, 96 homes$1,760,000 p. 76—
1434Nov 26, 2012$99,700,000one deed, 96 homes$2,010,000 p. 76—
1435Nov 26, 2012$99,700,000one deed, 96 homes$1,860,000 p. 76—
1436Nov 26, 2012$99,700,000one deed, 96 homes$1,500,000 p. 76—
1439Nov 26, 2012$99,700,000one deed, 96 homes$2,865,000 p. 76—
1440Nov 26, 2012$99,700,000one deed, 96 homes$3,500,000 p. 76—
1526Nov 26, 2012$99,700,000one deed, 96 homes$1,895,000 p. 76—
1530Nov 26, 2012$99,700,000one deed, 96 homes$2,535,000 p. 76—
1531Nov 26, 2012$99,700,000one deed, 96 homes$2,515,000 p. 76—
1532Nov 26, 2012$99,700,000one deed, 96 homes$1,605,000 p. 76—
1533Nov 26, 2012$99,700,000one deed, 96 homes$1,800,000 p. 76—
1534Nov 26, 2012$99,700,000one deed, 96 homes$2,060,000 p. 76—
1535Nov 26, 2012$99,700,000one deed, 96 homes$1,900,000 p. 76—
1536Nov 26, 2012$99,700,000one deed, 96 homes$1,535,000 p. 76—
1537Nov 26, 2012$99,700,000one deed, 96 homes$1,460,000 p. 76—
1538Nov 26, 2012$99,700,000one deed, 96 homes$1,850,000 p. 76—
1539Nov 26, 2012$99,700,000one deed, 96 homes$2,930,000 p. 76—
1540Nov 26, 2012$99,700,000one deed, 96 homes$3,600,000 p. 76—
1541Nov 26, 2012$99,700,000one deed, 96 homes$1,780,000 p. 76—
1626Nov 26, 2012$99,700,000one deed, 96 homes$1,945,000 p. 77—
1627Nov 26, 2012$99,700,000one deed, 96 homes$2,090,000 p. 77—
1630Nov 26, 2012$99,700,000one deed, 96 homes$2,595,000 p. 77—
1631Nov 26, 2012$99,700,000one deed, 96 homes$2,580,000 p. 77—
1632Nov 26, 2012$99,700,000one deed, 96 homes$1,645,000 p. 77—
1633Nov 26, 2012$99,700,000one deed, 96 homes$1,840,000 p. 77—
1634Nov 26, 2012$99,700,000one deed, 96 homes$2,110,000 p. 77—
1635Nov 26, 2012$99,700,000one deed, 96 homes$1,945,000 p. 77—
1636Nov 26, 2012$99,700,000one deed, 96 homes$1,565,000 p. 77—
1637Nov 26, 2012$99,700,000one deed, 96 homes$1,485,000 p. 77—
1638Nov 26, 2012$99,700,000one deed, 96 homes$1,950,000 p. 77—
1639Nov 26, 2012$99,700,000one deed, 96 homes$2,995,000 p. 77—
1726Nov 26, 2012$99,700,000one deed, 96 homes$1,990,000 p. 77—
1727Nov 26, 2012$99,700,000one deed, 96 homes$1,895,000 p. 77—
1729Nov 26, 2012$99,700,000one deed, 96 homes$2,360,000 p. 77—
1731Nov 26, 2012$99,700,000one deed, 96 homes$2,425,000 p. 77—
1732Nov 26, 2012$99,700,000one deed, 96 homes$1,680,000 p. 77—
1733Nov 26, 2012$99,700,000one deed, 96 homes$2,280,000 p. 77—
1734Nov 26, 2012$99,700,000one deed, 96 homes$2,155,000 p. 77—
1735Nov 26, 2012$99,700,000one deed, 96 homes$1,625,000 p. 77—
1736Nov 26, 2012$99,700,000one deed, 96 homes$1,600,000 p. 77—
1737Nov 26, 2012$99,700,000one deed, 96 homes$2,400,000 p. 77—
1738Nov 26, 2012$99,700,000one deed, 96 homes$2,050,000 p. 77—
1739Nov 26, 2012$99,700,000one deed, 96 homes$2,135,000 p. 77—
1823Nov 26, 2012$99,700,000one deed, 96 homes$2,155,000 p. 77—
1825Nov 26, 2012$99,700,000one deed, 96 homes$1,960,000 p. 77—
1826Nov 26, 2012$99,700,000one deed, 96 homes$2,049,000 p. 77—
1827Nov 26, 2012$99,700,000one deed, 96 homes$1,900,000 p. 77—
1829Nov 26, 2012$99,700,000one deed, 96 homes$2,130,000 p. 77—
1830Nov 26, 2012$99,700,000one deed, 96 homes$2,715,000 p. 77—
1831Nov 26, 2012$99,700,000one deed, 96 homes$2,250,000 p. 78—
1832Nov 26, 2012$99,700,000one deed, 96 homes$1,715,000 p. 78—
1833Nov 26, 2012$99,700,000one deed, 96 homes$2,085,000 p. 78—
1834Nov 26, 2012$99,700,000one deed, 96 homes$2,205,000 p. 78—
1836Nov 26, 2012$99,700,000one deed, 96 homes$1,625,000 p. 78—
1837Nov 26, 2012$99,700,000one deed, 96 homes$2,290,000 p. 78—
1838Nov 26, 2012$99,700,000one deed, 96 homes$2,150,000 p. 78—
1839Nov 26, 2012$99,700,000one deed, 96 homes$1,910,000 p. 78—
1840Nov 26, 2012$99,700,000one deed, 96 homes$3,900,000 p. 78—
1841Nov 26, 2012$99,700,000one deed, 96 homes$1,685,000 p. 78—
1930Nov 26, 2012$99,700,000one deed, 96 homes$2,780,000 p. 78—
1931Nov 26, 2012$99,700,000one deed, 96 homes$3,615,000 p. 78—
1932Nov 26, 2012$99,700,000one deed, 96 homes$1,750,000 p. 78—
1933Nov 26, 2012$99,700,000one deed, 96 homes$1,750,000 p. 78—
1934Nov 26, 2012$99,700,000one deed, 96 homes$2,255,000 p. 78—
1935Nov 26, 2012$99,700,000one deed, 96 homes$2,215,000 p. 78—
1936Nov 26, 2012$99,700,000one deed, 96 homes$1,700,000 p. 78—
1937Nov 26, 2012$99,700,000one deed, 96 homes$1,645,000 p. 78—
1941Nov 26, 2012$99,700,000one deed, 96 homes$1,805,000 p. 78—

Pro

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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
Cps 1 Realty LP
Principals
Miki Naftali, Orly Hackmon
Tax estimate
Leitner Group, Inc.Prepared the first-year real estate tax projection
Construction lender
Column Financial$60.9 million loan stated in the plan

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

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