323 East 53rd Street Condominium
323 East 53rd Street, Manhattan, NY 10022
Overview
323 East 53rd Street is an 11-unit condo in Manhattan.
- Offering plan: Accepted March 2021 · 463 pages · floor plans on page 66
- Finishes: Engineered wood floors, Thermador and Bosch appliances and a washer and dryer in each apartment
- Prices: $1,680 a square foot on average, as first offered; $10.2 million in all ($10.4 million when first offered)
- Common charges: $766–$992 a month, the sponsor's first-year estimate
- Developers: Maverick Lien Fund IV LP and Maverick Real Estate Partners LLC; principals David Aviram and Edward Martell
- Sponsor: 323 E 53rd Street Owner LLC, represented by Lester Bleckner & Shaw LLP
- Subway: 4-minute walk to Lexington Av/51-53 Sts (6, E, F, M)
- Amendments: 6, the latest in March 2024
- Units
- 11 residential
- Subway
- 4 min walk to Lexington Av/51-53 Sts 6 E F M
- Developers
- Maverick Lien Fund IV LP, Maverick Real Estate Partners LLC
- Principals
- David Aviram, Edward Martell
- Average $/sf
- $1,680Homes in Schedule A, as first offered
- Common charges
- $766–$992 a monthSponsor's first-year estimate in Schedule A, 1/1/21-12/31/21
- Offering price
- $10.2 million total $10.4 million when first offered
- Floor plans
- Page 66 of the plan
- SubmittedMarch 2022
- AcceptedMarch 2021
- 6 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Dec 31, 2025.
First-Year Budget
From our research: NYC Co-op and Condo Tax Abatement: Is It Worth Paying Prevailing Wage? (Board Calculator)
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 Dec 21, 2022
Operating budget reduced, unit prices lowered, and plan declared effective.
- Operating budget reduced from prior version to $108,528 due to decision not to pay certain employees prevailing wage
- Total offering amount decreased $95,000 from $10,280,000.00 to $10,185,000.00
- Prices of certain units reduced
- Estimated monthly and annual common charges reduced on Schedule A
- Plan declared effective as of December 21, 2022 with two residential units (2A and 4A) purchased
- New York State Tax Law Section 1404(a) amendments effective July 1, 2021 change calculation of State Transfer Tax and Mansion Tax
- Schedule A prices decreased for 4 homes (median -5.6%): Garden Suite & S-5 $995,000 → $950,000; 2A & S-9 $860,000 → $770,000; 2B & S-8 $875,000 → $795,000; 3B & S-10 $900,000 → $850,000
Amendment 2 Oct 20, 2022
Prices of 2 units decreased, reducing total offering amount by $170,000.
- Unit 2A price reduced from $860,000 to $770,000
- Unit 2B price reduced from $875,000 to $795,000
- Total offering amount decreased from $10,450,00.00 to $10,280,000.00
Amendment 1 2022
Amendment extends plan viability, updates property descriptions and floor plans, revises unit terrace and storage locker square footages, adjusts common charges and taxes, adds temporary license disclosure for adjacent property work, and removes purchaser responsibility for grossed-up transfer taxes.
- Plan viability extended six months from acceptance date
- Terrace square footages modified: Garden Suite increased to 618 sq ft, Terrace Suite A decreased to 150 sq ft, Terrace Suite B decreased to 129 sq ft
- Storage locker square footages decreased for units 2A, 2B, 3A, 3B, 4A, 4B
- First year operations start July 1, 2022, end June 30, 2023
- Revised common interest and real estate taxes for all units
- Sponsor has temporary license to adjacent property at 321 East 53rd Street for repairs and roof protection, paying $200/month
- Purchasers no longer responsible for grossed-up transfer taxes; pay 1% NYC transfer tax (or 1.425% for purchases over $500,000) plus $50 filing fee, and .4% state deed document stamps
Team
- Sponsor
- 323 E 53rd Street Owner LLC
- Developers
- Maverick Lien Fund IV LP, Maverick Real Estate Partners LLC
- Principals
- David Aviram, Edward Martell
- Counsel
- Lester Bleckner & Shaw LLP
- Tax estimate
- The Mazursky Group, Inc.Prepared the first-year real estate tax projection
- Construction lender
- Creif 117Lender on the mortgage and building loan agreement recorded December 2016 in ACRIS; $10.4 million recorded
- General contractor
- Michael Paul EnterprisesHeld the general construction permit on DOB job 122369294
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- R8B
Today's zoning, from city data (PLUTO 26v2).
Nearby
- 336 E. 54th Street Condominiumnext door · 10 units · 2017
- Sutton Condominiumnext door · 113 units · 2014
- Veneto Condominium /250 East 53rd Streetnext door · 137 units · 1 parking · 2006
- 245 East 53rd Street Condominiumnext door · 5 units · 2019
- 244 East 52nd Street Condominium0.1 mi · 15 units · 2020
- 240 East 55th Street0.1 mi · 1982
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