47 Murray Street Condominium
47 Murray Street, Manhattan, NY 10007
Overview
47 Murray Street is a 4-unit condo in Manhattan, with 1 commercial unit.
- Offering plan: Accepted February 2007 · 305 pages · floor plans on page 181
- Finishes: Shaker cabinets, Viking appliances, a washer and dryer in each apartment and Kohler bathroom fittings
- Prices: $1,368 a square foot on average, as first offered; $15.7 million in all
- Common charges: $991–$1,563 a month, the sponsor's first-year estimate
- Sponsor: 47 Murray Street, LLC, represented by Certilman Balin Adler & Hyman, LLP; principals Burt Haims, Lorraine Sosnow, Mark Stumer, Neil Feldstein, Oded Nachmani, Robert N. Beer, Ron J. Horowitz and Stuart Gelb
- Subway: 1-minute walk to Chambers St/WTC/Park Place/Cortlandt St (2, 3, A, C, E, R, W); 3 minutes to Chambers St (1, 2, 3)
- Amendments: 6, the latest in November 2013
- Units
- 4 residential · 1 commercial
- Subway
- 1 min walk to Chambers St/WTC/Park Place/Cortlandt St 2 3 A C E R WChambers St 1 2 3, 3 min
- Principals
- Burt Haims, Lorraine Sosnow, Mark Stumer, Neil Feldstein, Oded Nachmani, Robert N. Beer, Ron J. Horowitz, Stuart Gelb
- Average $/sf
- $1,368Homes in Schedule A, as first offered
- Common charges
- $991–$1,563 a monthSponsor's first-year estimate in Schedule A, May 1, 2007 to April 30, 2008
- Offering price
- $15.7 million total
- Floor plans
- Page 181 of the plan
- SubmittedMay 2007
- AcceptedFebruary 2007
- 6 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Sep 30, 2024.
First-Year Budget
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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 6 Nov 21, 2013
Amendment updates sales status, sponsor financial obligations, Board of Managers composition, condominium budget, escrow procedures, and real estate tax information.
- As of November 12, 2013, Sponsor has closed 4 of 4 Residential Units and 1 of 1 Commercial Unit; only Penthouse Unit remains unclosed
- Sponsor's monthly obligation for Penthouse Unit common charges is $2,012.08
- Sponsor paid $19,650.72 for real estate taxes on Penthouse Unit; current tax rate is $131.80 per $1,000 of assessed valuation
- Board of Managers members: Patti Greaney (Unit Owner), Ron J. Horowitz (Sponsor's representative), Stuart Gelb (Sponsor's representative)
- Revised Condominium Budget for year commencing September 1, 2013 annexed as Exhibit A
- Financial statement for year ended August 31, 2012 annexed as Exhibit B
- Escrow Agent changed to Certilman Balin Adler & Hyman, LLP; escrow account at Capital One Bank
- New escrow procedures implemented including IOLA account requirements and updated release of funds terms
Amendment 5 Jun 13, 2011
Sponsor reports sales progress, updates financial obligations, replaces a board manager, and provides revised budget and financial statement.
- As of June 1, 2011, Sponsor closed 2 of 5 units and has 1 additional contract pending
- Sponsor's maximum monthly common charges obligation is $4,015.31
- Acquisition and building loan from Capital One Bank is $3,574,486 with monthly interest payments of approximately $16,883; loans mature June 14, 2011
- Mark Stumer resigned as manager; Patti Greaney designated as commercial unit representative on Board of Managers
- Revised Condominium Budget provided for year commencing September 1, 2010
- Financial statement for year ended August 31, 2010 attached
- Sponsor paid $41,000.00 for 2010/2011 real estate taxes on unclosed units
- Offering Plan extended for twelve months from amendment filing date
Amendment 4 2010
Amendment updates sponsor's financial status, unit sales, budget, and selling agent for the condominium.
- One commercial unit closed as of May 25, 2010
- Sponsor's maximum monthly obligation for common charges is $5,102.93
- Mortgage with Capital One Bank: combined principal $5,497,213.00, monthly interest payments $25,247.75, maturity June 14, 2011
- Corcoran Group replaced Sotheby's International Realty as selling agent
- Revised condominium budget effective September 1, 2009
- Real estate taxes for 2009/2010 tax year: $45,580.98
- Offering plan extended for twelve months from amendment filing date
- Schedule A prices increased for 1 home (median +0.5%): Penthouse $5,650,000 → $5,680,000
- Schedule A prices decreased for 1 home (median -0.4%): 3rd Floor $2,790,000 → $2,780,000
Amendment 3 Aug 29, 2008
Amendment No. 3 updates the sponsor's financial status, including one closed commercial unit, maximum monthly obligation of $4,946.07, and loan details for unsold units.
- Sponsor has closed title to one (1) Commercial Unit
- Sponsor's current maximum monthly obligation: $4,946.07
- Unsold units encumbered by Capital One Bank mortgage totaling $5,220,110.00
- Loan monthly interest-only payments approximately $28,451.50
- Loans mature December 14, 2008
- Sponsor paid $41,140 for 2007/2008 real estate taxes
- Real estate tax rate: 11.928% per $1,000 of assessed valuation
- Offering Plan valid for six (6) months from amendment filing date
Amendment 2 Mar 3, 2008
Amendment reports first closing (Commercial Unit on November 9, 2007), condominium budget, and financial status.
- First closing occurred November 9, 2007 for Commercial Unit
- Declaration of Condominium recorded September 12, 2007 as CRFN # 2007000468581
- Sponsor's maximum monthly obligation for common charges on unsold units: $4,946.07
- Building loan mortgage with North Fork Bank: $4,796,000.00 principal, maturing March 8, 2008
- Monthly loan interest payments approximately $28,451.50
- Real estate taxes paid by Sponsor for 2006/2007 tax year: $27,902
- Working Capital Fund initial deposit: $750.00 per unit at closing
- Offering Plan extended for six (6) months from filing date
Amendment 1 2007
Plan declared effective, commercial unit exempted from elevator costs, purchase prices revised, and recording of declaration in process.
- Plan declared effective on May 4, 2007; 1 of 5 units (20.00%) under purchase agreement
- Commercial Unit Owner exempted from elevator operation, maintenance, repair and replacement expenses
- Revised Schedule A with new common charges reflecting commercial unit's elevator expense exemption
- Revised purchase prices for units as set forth in amended Schedule A
- Plan may be used for six (6) months from amendment acceptance date
- Declaration of 47 Murray Street Condominium in process of being recorded with NYC Register's Office
- Schedule A prices increased for 4 homes (median +7.9%): 2nd Floor $2,661,000 → $2,870,000; 3rd Floor $2,661,000 → $2,790,000; 4th Floor $2,661,000 → $2,870,000; Penthouse $5,073,000 → $5,650,000
Team
- Sponsor
- 47 Murray Street, LLC
- Principals
- Burt Haims, Lorraine Sosnow, Mark Stumer, Neil Feldstein, Oded Nachmani, Robert N. Beer, Ron J. Horowitz, Stuart Gelb
- Tax estimate
- Anthony Como Associates Property Tax ConsultantsPrepared the first-year real estate tax projection
- Construction lender
- North Fork Bank$6.4 million recorded
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- C6-3A
- Special district
- Special Tribeca Mixed Use District (TMU)
Today's zoning, from city data (PLUTO 26v2).
Nearby
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