32 Clinton Condominium
32 Clinton Street A/K/A 172 Stanton Street, Manhattan, NY 10002
Overview
32 Clinton is a 4-unit condo in Manhattan, with 2 commercial units.
- Offering plan: Accepted December 2008 · 300 pages · floor plans on page 22
- Finishes: Wood floors, granite kitchen countertops, custom maple veneer cabinets, Sub-Zero, Wolf and Miele appliances, a washer and dryer in each apartment, Hansgrohe bathroom fittings and central forced air for heating and cooling
- Prices: $10.8 million in all
- Common charges: $844–$1,148 a month, the sponsor's first-year estimate
- Developer: Merchants Properties, Inc.; principals Linda M. Mekeel, Lowell Reiter, Richard Reiter, Russell Reiter and Sheldon Reiter
- Sponsor: 32 Clinton Associates LLC, represented by Dennis R. Krasner, Esq.
- Subway: 5-minute walk to Delancey St-Essex St (F, J, M, Z); 7 minutes to 2 Av (F)
- Amendments: 3, the latest in June 2011
- Units
- 4 residential · 2 commercial
- Subway
- 5 min walk to Delancey St-Essex St F J M Z2 Av F, 7 min
- Developer
- Merchants Properties, Inc.
- Principals
- Linda M. Mekeel, Lowell Reiter, Richard Reiter, Russell Reiter, Sheldon Reiter
- Common charges
- $844–$1,148 a monthSponsor's first-year estimate in Schedule A, January 1, 2009 to December 31, 2009
- Offering price
- $10.8 million total
- Floor plans
- Page 22 of the plan
- SubmittedMay 2009
- AcceptedDecember 2008
- 3 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Nov 30, 2025.
First-Year Budget
From our research: NYC Co-op and Condo Tax Abatement: Is It Worth Paying Prevailing Wage? (Board Calculator)
Ask Claude or ChatGPT: How do 32 Clinton's common charges compare with similar buildings? →
Property Taxes
The plan's first-year tax estimate, checked against the city's real bills.
Each home's estimate, city bills and tax breaksSee it free →Closing Costs
The buyer pays the NYC and NY State transfer taxes, which a seller usually pays.
All 5 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 3 Jul 15, 2011
This amendment extends the offering term by 12 months and reports that the sponsor relinquished board control on June 16, 2010.
- Offering term extended 12 months from July 15, 2011
- Sponsor relinquished board control on June 16, 2010
- Sponsor owns 2 commercial/community facility units (33% of 6 total units)
- Sponsor's aggregate monthly common charges $606.00, real estate taxes $853.00
- Sponsor expects to obtain final Certificate of Occupancy within 60 to 90 days
- Financial statements for 2009 and 2010 attached
Amendment 2 Jan 7, 2010
Post-closing amendment reporting first unit closing on September 25, 2009, temporary Certificate of Occupancy issued August 31, 2009, and condominium declaration recorded.
- First closing occurred September 25, 2009
- Temporary Certificate of Occupancy issued August 31, 2009, renewed October 30, 2009 for 90 days
- Final Certificate of Occupancy targeted by June 1, 2010 with estimated completion cost of approximately $114,320
- Declaration of Condominium recorded July 30, 2009; total real estate taxes approximately $16,800.00 per year
- Initial Working Capital Fund of $1,777 deposited at Citibank NA
- Sponsor owns two Commercial/Community Facility Units and Residential Units 2A, 3A and 5A (83% of Units)
- First Board of Managers members named: Linda Mekeel (president), Stacy Hammel (secretary), Sheldon Reiter (treasurer)
- Plan extended for 6 months from January 7, 2010
Amendment 1 June 2009
Plan declared effective; architect narrative revised for construction changes; 421-a tax exemption terms clarified; storage room size decreased.
- Plan declared effective as of amendment filing date
- Construction changes: hydraulic elevator, 42" parapet, concrete masonry partitions, painted public halls, maple kitchen floors, wood core doors, free-standing sinks, painted lobby
- 421-a tax exemption: 10 years declining schedule (100% years 1-2, 80% years 3-4, 60% years 5-6, 40% years 7-8, 20% years 9-10)
- Storage room size and layout decreased
- Offering term extended six months from filing or to December 17, 2009, whichever is later
- Pet rule amended to permit pets if Board determines no health hazard or danger
- Closing cost charges for title insurance, recording, mortgage tax, and financing deleted from Purchase Agreement
- Schedule A prices increased for 1 home (median +0.0%): 5 $2,553,500 → $2,553,600
Team
- Sponsor
- 32 Clinton Associates LLC
- Developer
- Merchants Properties, Inc.
- Principals
- Linda M. Mekeel, Lowell Reiter, Richard Reiter, Russell Reiter, Sheldon Reiter
- Counsel
- Dennis R. Krasner, Esq.
- Tax estimate
- Podell, Schwartz, Schechter & BanfieldPrepared the first-year real estate tax projection
- Construction lender
- Metropolitan National Bank$4.92 million recorded
- General contractors
- While Oak Construction, White Oak Constr.Held the general construction permit on DOB job 104929295
- Property report
- CBA ARCHITECTS & CONSULTANTSPrepared the plan's description of the property and its condition · Named on p. 176
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- R7A
- Commercial overlay
- C1-5
Today's zoning, from city data (PLUTO 26v2).
Nearby
- 14 Clinton Street Condominiumnext door · 6 units · 2022
- 148 Attorney Street Condominiumnext door · 6 units · 2018
- 50 Clinton Street Condominiumnext door · 37 units · 2015
- 66 Clinton Condominiumnext door · 12 units · 2022
- 287 East Houston Condominiumnext door · 28 units · 2016
- 150 Rivington Condominiumnext door · 45 units · 2016
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