7 Harrison Street Condominium
7 Harrison Street, Manhattan, NY 10013
Overview
7 Harrison Street is a 12-unit condo in Manhattan, with 1 commercial unit.
- Offering plan: Accepted October 2013 · 482 pages · floor plans on page 44
- Finishes: Engineered wood floors, marble kitchen countertops, a washer and dryer in each apartment and a VRF heat pump system for heating and cooling
- Prices: $2,701 a square foot on average, as first offered; $98 million in all ($82.1 million when first offered)
- Developer: Matrix Development, LLC; principals Scott Sabbagh, Bohdy Hedgcock, Doug Bowen, Sean Zalka and Shane Neuringer
- Sponsor: Harrison Street Residences, LLC, represented by Starr Associates LLP
- Subway: 4-minute walk to Franklin St (1); 4 minutes to Chambers St (1, 2, 3)
- Amendments: 16, the latest in August 2015
- Units
- 12 residential · 1 commercial
- Subway
- 4 min walk to Franklin St 1Chambers St 1 2 3, 4 min
- Developer
- Matrix Development, LLC
- Principals
- Scott Sabbagh, Bohdy Hedgcock, Doug Bowen, Sean Zalka, Shane Neuringer
- Average $/sf
- $2,701Homes in Schedule A, as first offered
- Offering price
- $98 million total $82.1 million when first offered
- Floor plans
- Page 44 of the plan
- SubmittedMarch 2014
- AcceptedOctober 2013
- 16 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Sep 30, 2024.
First-Year Budget
From our research: NYC Co-op and Condo Tax Abatement: Is It Worth Paying Prevailing Wage? (Board Calculator)
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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 2 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 16 2015
Sixteenth amendment updates working capital fund amount, condominium board members, sponsor financial disclosures, and anticipated permanent certificate of occupancy timing.
- Working Capital Fund on deposit with Citibank as of July 1, 2015 in approximate amount of $85,907
- Permanent Certificate of Occupancy anticipated within approximately 3 months
- Sponsor's monthly common charges on unsold units approximately $9,467
- Sponsor's monthly real estate taxes on unsold units approximately $6,920
- Condominium board members: Scott Sabbagh (President), Doug Bowen (Vice President), Sean Zalka (Secretary/Treasurer)
Amendment 15 Feb 27, 2015
Fifteenth amendment documenting the first closing on January 9, 2015, board composition, financial status, escrow bank change, and permanent certificate of occupancy status.
- First closing occurred January 9, 2015 for Unit 6N
- Condominium declaration recorded November 25, 2014
- Working capital account established at Citibank with $51,942.82 as of February 15, 2015
- Escrow bank changed to Signature Bank at 261 Madison Avenue with interest rate approximately .30%
- Sponsor sold 9 residential units; 3 remain unsold
- Retail unit sold January 9, 2015
- $45,000 deposited for permanent certificate of occupancy escrow
- Permanent certificate of occupancy anticipated within approximately six months from December 4, 2014
Amendment 14 Jan 20, 2015
Unit 58 price changed to $5,650,000.
Amendment 13 Oct 17, 2014
Updates offering prices and common charges for units in the condominium.
- Schedule A updated with current offering prices for all residential units and retail unit
- Projected common charges and real estate taxes provided for First Year of Condominium Operation October 1, 2014 - September 30, 2015
- Total offering price for all residential units: $93,675,000
- Total retail unit offering price: $4,000,000
- Grand total offering price: $97,675,000
Amendment 12 Oct 1, 2014
Price of one retail unit changed to $4,000,000.
Amendment 11 Sep 17, 2014
Price of Unit 10 (7N) changed to $9,000,000.
Amendment 10 Jul 2, 2014
Unit 3@8 price changed to $4,625,000.
Amendment 9 Jun 19, 2014
Change in selling agent for the condominium.
- Selling agent changed to Urban Compass, effective June 4, 2014
- Urban Compass office at 19 Union Square West, 10th Floor, New York, New York 10003, telephone (212) 913-9085
Amendment 8 Jun 4, 2014
Plan declared effective upon receipt of 6 purchase agreements representing 50% of 12 residential units.
- Plan declared effective
- 6 purchase agreements received from bona fide purchasers (50% of 12 units)
- Unit designations clarified
- Plan expires 6 months after filing unless extended or amended
Amendment 7 May 19, 2014
Price of one unit owned by the Sponsor changed.
Amendment 6 May 12, 2014
Purchase prices of two units are changed.
- Unit 4(4N) price changed to $6,150,000
- Unit 8(6N) price changed to $6,600,000
Amendment 5 Apr 25, 2014
Price of one unit changed.
Amendment 4 Apr 21, 2014
Updated Schedule A with current purchase prices for all units.
Amendment 3 Apr 18, 2014
Price of one unit changed.
Amendment 2 Apr 9, 2014
Updated Schedule A with current unit purchase prices for 7 Harrison Street Condominium.
- Schedule A replaced with updated offering prices for all units
- Common charges and real estate tax projections provided for first year (October 1, 2014 - September 30, 2015)
- Second year carrying charges and RE taxes estimated for year of condominium operation
- Unit prices range from $3,500,000 (retail unit) to $25,000,000 (penthouse)
Amendment 1 Mar 20, 2014
Amendment updates Schedule A offering prices, Schedule B budget, and related exhibits, with First Year of Condominium Operation commencing October 1, 2014.
- First Year of Condominium Operation revised to commence October 1, 2014
- Schedule A — Purchase Prices and Related Information updated
- Schedule B — Budget for First Year revised for period October 1, 2014 - September 30, 2015
- Schedule B-1 — Projected Individual Energy Costs Budget updated
- Certifications of Budget Expert updated
- Real Estate Tax Opinion Letter updated
- Plan extended for six (6) months following Filing Date of this Amendment
Team
- Sponsor
- Harrison Street Residences, LLC
- Developer
- Matrix Development, LLC
- Principals
- Scott Sabbagh, Bohdy Hedgcock, Doug Bowen, Sean Zalka, Shane Neuringer
- Counsel
- Starr Associates LLP
- Tax estimate
- Marcus & PollackPrepared the first-year real estate tax projection
- Construction lender
- Doral Property Finance$24.8 million recorded
- Structural engineer
- GACE Consulting Engineers PCNamed on p. 33
- MEP engineer
- Glickman Engineering AssociatesMechanical, electrical and plumbing · Named on p. 33
- Interior designer
- Rees Roberts + PartnersReported by cityrealty.com
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- C6-2A
- Special district
- Special Tribeca Mixed Use District (TMU)
Today's zoning, from city data (PLUTO 26v2).
Nearby
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- 148 Duane Street Condominium0.2 mi · 95 units · 2016
- 58 Thomas St. Condominium0.2 mi · 5 units · 2002
- 56 Leonard Street Condominium0.2 mi · 145 units · 1 parking · 2008
- 55 Leonard Condominium0.2 mi · 3 units · 2014
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