201 East 23rd Street Apartment Corp.
201 East 23rd Street, Manhattan, NY 10010
Overview
201 East 23rd Street Apartment Corp. is a new 69-unit condo in Manhattan, with 21 storage units. Its offering plan was accepted in March 2025. The developer is Naftali Group LLC, with Miki Naftali named as the sponsor's principals. Schedule A prices the homes at an average of $2,074 a square foot as first offered. The offering totals $164 million.
- Units
- 69 residential · 21 storage
- Developer
- Naftali Group LLC
- Principals
- Miki Naftali
- Average $/sf
- $2,074Homes in Schedule A, as first offered
- Offering price
- $164 million total
The sponsor of record is 201 East 23rd Street Tenant LLC, represented by Holland & Knight LLP. The offering plan runs 837 pages. The sponsor has filed 4 amendments, the latest in August 2026.
Plan C240002 · New · accepted Mar 19, 2025 · AG record ↗
Units & Prices
Budget
From our research: How Close Are Offering Plan Tax Estimates to the Real Bill? · What New NYC Condos Spend on Staff, by Building Size · The Sponsor's Condo-Creation Fee in NYC
The Building
Amendments
Amendment 4
This amendment revises the offering prices of several storage bins and of Residence 9D, as shown in the revised Schedule A and Schedule A-1 attached as Exhibit A.
- Offering price of Residence 9D set at $1,465,000
- Offering prices revised for several Storage Bins (Storage Bins 1 to 21 listed in revised Schedule A)
Amendment 3
This Third Amendment ends the sponsor's maintenance waiver so residential expenses are collected from September 1, 2026, and it updates the closing, certificate of occupancy, title cost, board, unsold unit, reserve, and tax-opinion information.
- Waiver Period ended; collection of Residential Expenses starts September 1, 2026
- Purchase price of Residence 9D revised (see revised Schedule A, Exhibit D)
- Title Insurance Cost is $438,257.07, $37,253.93 less than the $475,511.00 estimate; $43.83 per residential share
- First Closing occurred May 26, 2026, for Residence 4D
- Current temporary certificate of occupancy issued July 27, 2026; permanent certificate not yet issued; $320,000.00 held in PCO Escrow Account
- As of July 1, 2026, Eric Solomon and Kevin Mack replace Hugh MacKay and LeToya Ward on the Condominium and Residential Boards
- 44 Unsold Residences owned by Sponsor as of July 9, 2026
- Working Capital Fund and Replacement Reserve each hold $45,288.00 as of June 24, 2026
Amendment 2
The amendment declares the plan effective based on 42 executed purchase agreements, revises purchase prices for certain Residences, and limits use of the plan to six months after this amendment's filing date unless it is further extended or amended.
- Plan declared effective: purchase agreements executed for 42 Residences, about 60% of the 69 offered, as of March 18, 2026
- Purchase prices changed for certain Residences as set forth in Schedule A, Offering Prices and Related Information (Exhibit B)
- Plan may not be used after six (6) months following the filing date of this Second Amendment unless further extended or amended
- Schedule B projected budget for the First Year of Condop Operation remains in effect
- No certified financials, because the Cooperative is not yet operational
- Exhibit B lists projected charges for the First Year, January 1, 2027 to December 31, 2027
Amendment 1
This First Amendment changes the measured size and description of the PHA penthouse, updates offering prices on Schedule A, replaces the initial Condominium and Residential Board members, and revises the Description of Property Report, without extending the Plan's effective period.
- Residence PHA floor plan and measurement methodology revised; interior 3,256 SF, exterior 625 SF, with 215 SF elevator lobby included in unit area
- Purchase prices changed for certain residences per revised Schedule A (Exhibit B)
- Initial Condominium and Residential Board members named as Hugh McKay, LeToya Ward and Josephine Bechand, each affiliated with the Sponsor
- Description of Property Report revised for PHA measurement, indoor air handler VRF units for residences, and certain appliance model changes
- Certification of Sponsor's Architect attached as Exhibit D
- Offering Plan term is not extended by this amendment
Summarized from the amendments' text (scanned ones read with OCR); the filings themselves are on the Attorney General's site.
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Team
- Sponsor
- 201 East 23rd Street Tenant LLC
- Developer
- Naftali Group LLC
- Principals
- Miki Naftali
- Counsel
- Holland & Knight LLP
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