Malabar Residences at 126 East 57th Street: What the Offering Plan Says
Malabar Residences is a 145-unit new condo at 126 East 57th Street in Midtown East with a subcellar pool, sports court and three amenity terraces. Its offering plan details JennAir kitchens, Brizo and Duravit baths, a non-union staff with a 24/7 concierge, and a budget where payroll is about half the cost.
In brief: Malabar Residences is a new 145-apartment condo at 126 East 57th Street in Midtown East, with two retail units at the base and a porte cochere on East 56th Street. Its offering plan puts a full spa level in the subcellar (pool, spa pool, steam, sauna and a sports court) and budgets a lifeguard for it. The staff is non-union, with a 24/7 concierge, and the condo plans to rent an off-site apartment for its on-site manager.
What's Specific to It
- A lifeguarded pool. The first-year budget sets aside about $130,000 a year for a lifeguard contract, the single biggest service contract in the building.
- The manager lives down the street. The condo will rent an apartment within five blocks for the on-site manager and family, budgeted at roughly $106,000 a year, paid only by the residential owners.
- Non-union, non-prevailing-wage staff. Because of that, the plan says owners won't be able to get the city's condo tax abatement, which requires prevailing wages.
- Free storage, for now. There are 22 storage lockers in the cellar, with no license fee for the first two years and then about $2.50 per square foot a month.
- Smoking is allowed inside units and on private terraces, as long as smoke doesn't drift into hallways or other homes.
- A porte cochere, not a garage. Five drop-off spaces off the lobby, with no unattended parking and a 15-minute limit.
The offering plan, accepted by the New York Attorney General in April 2025, names the appliance models, lists every staff position and spells out the rules. (New to these documents? See what a condo offering plan is.)
At a Glance
- Homes: 145 condos plus two retail units. About 30 studios, 62 one-bedrooms, 37 two-bedrooms and 16 three-bedrooms.
- Sizes: roughly 500 to 3,000 square feet. About three in four apartments have a terrace or balcony.
- Ceilings: about 10'6" on most floors, 11' on some, about 14' on the 13th floor and 12'6" in the penthouses.
- Offering prices: for the 79 homes priced in Schedule A, the sponsor's prices ran from about $1.4 million to $13.5 million. These are offering prices, not sales.
- Estimated common charges: about $860 to $5,800 a month, depending on the unit.
Finishes
Kitchens
The kitchens are a JennAir package. Depending on the layout, the plan lists a JennAir integrated refrigerator, a gas cooktop, a wall oven (a double wall oven in some layouts), an integrated dishwasher and, in many kitchens, a microwave drawer and a wine cooler. Faucets are Brizo Litze in a Luxe Gold finish, sinks are Franke, and there's a Mountain Plumbing disposal.
- Counters: honed Taj Mahal quartzite from Brazil.
- Cabinets: rift-sawn white oak.
- Hoods: recirculating, not ducted outside. Some kitchens far from an operable window also get mechanical exhaust.
Good to know: cooking gas comes off a shared building meter and is paid through common charges, not billed to you separately.
Bathrooms
Bathrooms mix brands. Toilets are Duravit ME by Starck rimless one-pieces, sinks are Kohler Verticyl undermounts, and faucets and showers are Brizo Litze in Luxe Gold. Primary baths with a tub get a freestanding Kohler Ceric tub. Showers have Infinity Drain linear drains. Bathroom floors and walls are porcelain tile, and powder rooms are stone. (More in bathroom brands in NYC condos.)
Floors, windows and fireplaces
- Floors: 5/8-inch engineered European oak on an acoustic underlayment.
- Windows: a mix of fixed window wall and tilt-and-turn operable windows, set in an exposed-concrete facade.
- Fireplaces: there's a shared gas fireplace in the 13th-floor lounge. The two top penthouses (PH2A and PH2B) each get a private indoor gas fireplace and an outdoor gas fire pit.
Laundry, heating and cooling
Every apartment gets a stackable Bosch washer and ventless dryer in a closet. Heating and cooling come from a VRF system, and its electricity runs through your own Con Edison meter, so you pay for your own heat and air conditioning. Domestic hot water is made by building gas heaters and paid through common charges.
Amenities
- Subcellar: a swimming pool of about 675 square feet (roughly 16 by 42 feet), a spa pool, a steam room, a sauna, locker rooms, and a multipurpose sports court with a basketball hoop.
- Cellar: a gym, storage lockers and a bike room for about 54 bikes. The board may charge a monthly or annual fee for bike storage.
- 4th floor: a furnished lounge, a kids' playroom and a shared terrace.
- 13th floor: a lounge with the gas fireplace, opening to a terrace with a bar and amphitheater seating for screenings.
- Roof: a shared terrace with built-in seating, planters, a gas grill and dining space.
- Lobby level: a mailroom, a package room that also holds groceries and dry cleaning, and the porte cochere facing 56th Street.
Tip: there are three passenger elevators and no dedicated service elevator. One passenger car doubles as the service elevator when you book it with the managing agent,. Compare in amenities by building size.
Staffing and Services
The Schedule B budget lists a non-union staff, paid at least state minimum wage but not prevailing wage:
- A full-time superintendent who lives off-site.
- A handyman and four porters.
- A concierge around the clock, 24/7 (about four full-time positions).
- A doorman 16 hours a day, seven days a week.
The plan also says the board will hire a building manager who won't live in the building, and the budget covers renting that manager an apartment nearby. For the bigger picture, see what a doorman costs in an NYC condo.
What It Costs to Run
The sponsor's first-year budget (November 2025 to October 2026) is about $2.96 million, and residential owners cover about 97% of it. The big lines:
- Payroll and benefits: about $1.45 million, roughly half the budget.
- Service contracts: about $334,000, including about $130,000 for the lifeguard and $60,000 for window washing.
- Insurance: about $275,000.
- Electricity and gas for common areas: about $175,000 and $145,000.
- Manager's apartment: about $106,000.
The reserve line is small, at under $10,000. At closing, buyers pay one month of common charges to the working capital fund, and the plan also describes a reserve fund contribution equal to one month of common charges. Estimated common charges run from about $860 to $5,800 a month. Compare with our common charge and operating expense benchmarks.
Fine Print Worth Knowing
- No condo tax abatement. Because the staff isn't paid prevailing wage, the plan says owners won't get the city's condo and co-op abatement. The tax projection also notes taxes may rise once the finished building is reassessed.
- Terrace rules. Private terraces carry an access easement for facade and fireplace-flue work and for work on neighboring properties, with no common-charge credit while you can't use yours. Plantings have a 100-pound weight limit and furniture has to be rust-proof.
- Lot line windows. About 30 apartments on the west and north sides have lot line windows. The plan notes a recorded light-and-air easement over the neighbor at 126 East 56th Street on the western side.
- Pets. Up to two dogs, cats, caged birds or fish without special consent.
- Storage lockers are licensed, not owned, and the sponsor can swap you to a locker of similar or larger size.
Who's Behind It
- Sponsor: MRR 1326 LLC, whose principals are Rotem Rosen (co-founder of MRR Development), Yizhaq Hajaj and Anand G. Mahindra.
- Architect: ODA Architecture.
- Managing agent: FirstService Residential New York, which also prepared the budget.
- Selling agent: Douglas Elliman.
- Sponsor's counsel: Herrick.
The plan doesn't name an interior designer.
Common Questions
Does Malabar Residences have a pool?
Yes. The subcellar has a swimming pool of about 675 square feet, a spa pool, a steam room and a sauna, and the budget includes a lifeguard contract.
Is there parking at 126 East 57th Street?
Not a garage. The porte cochere has five spaces for pick-up and drop-off only, with no unattended parking and a 15-minute limit (see how NYC condo parking works).
Is the staff union?
No. The plan budgets a non-union staff, which is also why owners won't qualify for the city's condo tax abatement.
Who pays for heat and air conditioning?
You do. The VRF system runs on your apartment's own Con Edison meter, while hot water and cooking gas are paid through common charges.
Where this comes from: the building's offering plan (CD240247) on file with the New York Attorney General, including its special risks, building description and specifications, Schedule A, Schedule B budget and tax opinion. Prices are the sponsor's offering prices, budget figures are the sponsor's first-year projections, figures are rounded, and finishes are subject to substitution. Updated October 2026.