THE CONDO BOOK PROJECT

88 Lexington Avenue Condominium

88 Lexington Avenue, Manhattan, NY 10016

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Overview

Units
122 residential
Subway
3 min walk to 28 St 623 St-Baruch College 6, 5 min
Principals
Ziel Feldman
Average $/sf
$2,074Homes in Schedule A, as first offered
Offering price
$25.8 million total $279.8 million when first offered

The sponsor of record is Hfz 88 Lexington Avenue Owner LLC, represented by Kramer Levin Naftalis & Frankel, LLP. The offering plan runs 684 pages. The sponsor has filed 26 amendments, the latest in April 2026. The nearest other condo plan on file is 90 Lexington Avenue Condominium, next door.

Plan CD130277 · Conversion · accepted May 18, 2015 · AG record ↗

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FigureThis building1Coda2138 units · 0.4 miaccepted 2015The Shephard361 units · 1.4 miaccepted 2015
Common ChargesPer Square Foot / Month$0.95 ⚠In line$1.34$0.94
Average Offering PricePer Apartment$2.36MIn line$1.31M$6.14M
Average PricePer Square Foot$2,074In line$1,721$3,121
Average Unit SizeSquare Feet1,140 SFIn line759 SF1,969 SF

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Unit mix, closings, budgets, finishes and the team, against Coda and The Shephard, 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 closed70% of the homes in Schedule A85 of 122
Closing prices vs. Schedule A65 homes: $216,486,977 at closing against $184,163,000 in Schedule A (p. 51, p. 52, p. 53)+17.6%
Average closing price65 homes, on their Schedule A square feet$2,373 / SF
Closingsfirst and latest recordedJun 14, 2016 – Feb 27, 2025

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.

All 85 closings
HomeRecordedClosing priceSchedule ADifference
401Jun 14, 2016$2,860,122$2,890,000 p. 51−1%
702Jun 14, 2016$3,401,091$3,400,000 p. 51+0%
801Jun 15, 2016$2,000,681$2,095,000 p. 52−4.5%
803Jun 16, 2016$1,923,293$1,880,000 p. 52+2.3%
404Jul 13, 2016$1,705,236$1,855,000 p. 51−8.1%
1405Jul 13, 2016$4,509,974$4,280,000 p. 52+5.4%
1402Jul 18, 2016$3,627,715$3,645,000 p. 52−0.5%
901Jul 19, 2016$2,036,500$2,115,000 p. 52−3.7%
1206Jul 21, 2016$4,934,227$4,899,000 p. 52+0.7%
903Jul 26, 2016$1,956,807$1,900,000 p. 52+3%
902Aug 8, 2016$3,439,751$3,475,000 p. 52−1%
505Aug 11, 2016$4,206,711$4,090,000 p. 51+2.9%
605Aug 30, 2016$4,380,644$4,135,000 p. 51+5.9%
1502Sep 14, 2016$3,535,691$3,100,000 p. 53+14.1%
1506Sep 15, 2016$5,992,946$5,650,000 p. 53+6.1%
1101Sep 23, 2016$2,154,924$1,590,000 p. 52+35.5%
1006Oct 31, 2016$3,001,855$3,020,000 p. 52−0.6%
1003Nov 7, 2016$3,222,529$3,075,000 p. 52+4.8%
1106Nov 21, 2016$7,299,515$1,920,000 p. 52+280.2%
705Jan 13, 2017$5,512,551$5,169,000 p. 52+6.6%
706Mar 8, 2017$4,433,286$4,445,000 p. 52−0.3%
703Apr 19, 2017$1,838,540$1,860,000 p. 51−1.2%
1103Apr 21, 2017$2,165,222$1,055,000 p. 52+105.2%
1202Apr 25, 2017$3,490,145$3,595,000 p. 52−2.9%
504May 1, 2017$1,775,547$1,880,000 p. 51−5.6%
1001May 5, 2017$2,152,795$2,090,000 p. 52+3%
1503May 10, 2017$2,823,264$3,300,000 p. 53−14.4%
1706May 19, 2017$5,033,040$2,015,000 p. 53+149.8%
906May 30, 2017$4,683,741$4,600,000 p. 52+1.8%
805Jun 8, 2017$5,602,734$5,225,000 p. 52+7.2%
507Jul 14, 2017$3,086,230$3,100,000 p. 51−0.4%
701Aug 24, 2017$2,015,606$2,075,000 p. 51−2.9%
1205Sep 1, 2017$6,039,378$4,230,000 p. 52+42.8%
806Sep 7, 2017$4,209,314$4,540,000 p. 52−7.3%
1102Nov 2, 2017$3,427,514$1,205,000 p. 52+184.4%
606Dec 29, 2017$3,063,287$3,050,000 p. 51+0.4%
1806Mar 26, 2018$5,208,934$2,380,000 p. 53+118.9%
802Jun 28, 2018$1,186,540$1,460,000 p. 52−18.7%
406Jul 2, 2018$2,973,061$2,985,000 p. 51−0.4%
604Jul 20, 2018$1,915,430$2,100,000 p. 51−8.8%
405Jan 3, 2019$3,779,800$4,050,000 p. 51−6.7%
TH1Jan 23, 2019$3,791,410——
905Feb 4, 2019$5,312,916$5,290,000 p. 52+0.4%
1201Mar 1, 2019$3,778,516$3,890,000 p. 52−2.9%
1002Mar 12, 2020$1,036,652$1,495,000 p. 52−30.7%
PH1Jun 15, 2021$7,500,000$2,515,000 p. 53+198.2%
1606Aug 17, 2021$4,100,000$1,960,000 p. 53+109.2%
TH2Aug 25, 2021$4,350,000——
307Aug 31, 2021$3,600,000——
PH2Sep 28, 2021$7,000,000$1,800,000 p. 53+288.9%
407Oct 20, 2021$2,900,000$3,025,000 p. 51−4.1%
607Oct 29, 2021$2,750,000$3,130,000 p. 51−12.1%
TH3Nov 10, 2021$3,500,000——
1601Feb 8, 2022$5,200,000$1,360,000 p. 53+282.4%
1501Feb 16, 2022$2,084,850$2,120,000 p. 53−1.7%
1704Feb 24, 2022$984,500$2,240,000 p. 53−56%
1406Mar 18, 2022$4,333,371$4,910,000 p. 53−11.7%
302Jul 20, 2022$3,135,000$3,305,000 p. 51−5.1%
202Dec 13, 2022$900,000$1,015,000 p. 51−11.3%
1701Apr 20, 2023$1,825,000$1,485,000 p. 53+22.9%
301May 10, 2023$3,100,000$3,545,000 p. 51−12.6%
206Aug 14, 2023$1,650,000$1,115,000 p. 51+48%
601Oct 23, 2023$2,425,000$2,950,000 p. 51−17.8%
506Oct 31, 2023$2,595,000$3,015,000 p. 51−13.9%
1007Dec 6, 2023$2,500,000$1,315,000 p. 52+90.1%
501Feb 15, 2024$2,345,000$2,920,000 p. 51−19.7%
502Apr 10, 2024$1,050,000$1,440,000 p. 51−27.1%
1801Apr 16, 2024$3,225,000$1,630,000 p. 53+97.9%
1602Jul 9, 2024$2,150,000$1,270,000 p. 53+69.3%
204Feb 27, 2025$3,262,363one deed, 16 homes$2,205,000 p. 51—
303Feb 27, 2025$3,262,363one deed, 16 homes$1,270,000 p. 51—
305Feb 27, 2025$3,262,363one deed, 16 homes$3,765,000 p. 51—
306Feb 27, 2025$3,262,363one deed, 16 homes$4,240,000 p. 51—
402Feb 27, 2025$3,262,363one deed, 16 homes$1,400,000 p. 51—
602Feb 27, 2025$3,262,363one deed, 16 homes$1,410,000 p. 51—
804Feb 27, 2025$3,262,363one deed, 16 homes$2,150,000 p. 52—
1004Feb 27, 2025$3,262,363one deed, 16 homes$2,205,000 p. 52—
1005Feb 27, 2025$3,262,363one deed, 16 homes$3,015,000 p. 52—
1401Feb 27, 2025$3,262,363one deed, 16 homes$1,560,000 p. 52—
1403Feb 27, 2025$3,262,363one deed, 16 homes$1,300,000 p. 52—
1404Feb 27, 2025$3,262,363one deed, 16 homes$1,060,000 p. 52—
1407Feb 27, 2025$3,262,363one deed, 16 homes$1,535,000 p. 53—
1505Feb 27, 2025$3,262,363one deed, 16 homes$1,990,000 p. 53—
1703Feb 27, 2025$3,262,363one deed, 16 homes$2,390,000 p. 53—
1708Feb 27, 2025$3,262,363one deed, 16 homes$2,360,000 p. 53—

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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
Hfz 88 Lexington Avenue Owner LLC
Principals
Ziel Feldman
Tax estimate
Marcus & Pollack LLPPrepared the first-year real estate tax projection
Construction lender
Deutsche Bank Trust Company AmericasLender on the mortgage and building loan agreement recorded December 2013 in ACRIS; $155.3 million recorded

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

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