Buying in a new residential condo or co-op development in NYC comes with excitement, and, of course, a lot of paperwork. In this Q&A, Samantha Sheeber, managing partner at Starr Associates LLP, explains the reason for offering plans and why these documents play such a big role in shaping expectations in new developments. Afterwards, we highlight 10 pre-selling condo developments where early buyers can preview the best layouts and secure negotiable prices ahead of official sales launches.
In this article:
Q: How did you get into working on offering plans at Starr Associates?
A: I’ve been at Starr Associates my entire career. It has been 29 years as of this past October, so in many ways, I grew up here. Over the decades, we’ve reinvented the firm and expanded the services we provide. I originally started out doing real estate co-op and condo work, and that naturally led me to representing developers.
My first major project was with the Zeckendorfs, and I’ve continued to represent them ever since. It has truly been one of the highlights of my career. I’ve worked on projects like 515 Park Avenue, which is one of the most spectacular new limestone buildings, as well as 18 Gramercy Park South, Fifteen Central Park West, 520 Park Avenue, and so many others. These buildings are works of art.
My first major project was with the Zeckendorfs, and I’ve continued to represent them ever since. It has truly been one of the highlights of my career. I’ve worked on projects like 515 Park Avenue, which is one of the most spectacular new limestone buildings, as well as 18 Gramercy Park South, Fifteen Central Park West, 520 Park Avenue, and so many others. These buildings are works of art.
"Developers often feel like targets. It’s unnecessary and doesn’t need to be that way. They’re doing work that is good for the city and the economy, and keeps people coming."
What really separates us at Starr are the relationships we've built. We partner closely with developers like EJS and Legion, and we care deeply about these projects. Our goal is always to ensure the right protections are in place. Developers often feel like targets. It’s unnecessary and doesn’t need to be that way. They’re doing work that is good for the city and the economy, and keeps people coming.
We’re also working on exciting projects like the Flatiron Building, which will have extraordinary light and views into Madison Square Park, and 80 Clarkson. Whether it’s large iconic towers or smaller townhouse projects, I find it all incredibly fun.
Aside from working extremely hard, the enjoyable part is working with extraordinary talent every day. These development teams and brokers make sure they do it right, and care deeply about their reputations. The Zeckendorfs' iconic spirit, which dates as far back as Kips Bay Towers, continues to this day
We’re also working on exciting projects like the Flatiron Building, which will have extraordinary light and views into Madison Square Park, and 80 Clarkson. Whether it’s large iconic towers or smaller townhouse projects, I find it all incredibly fun.
Aside from working extremely hard, the enjoyable part is working with extraordinary talent every day. These development teams and brokers make sure they do it right, and care deeply about their reputations. The Zeckendorfs' iconic spirit, which dates as far back as Kips Bay Towers, continues to this day
Q: What trends do you see shaping the next wave of high-end developments?
A: Amenities are the biggest driver right now. People work from home more, which means they want spaces that let them leave their apartment without actually leaving the building; and developers are rising to the occasion. There are podcast rooms, golf simulators, co-working lounges, clubhouses, wellness facilities, and more. It seems club amenities have taken over the city, and they’re spectacular.
We're also seeing a rise in commercial condominiums and mixed-use projects involving high-end retailers.
We're also seeing a rise in commercial condominiums and mixed-use projects involving high-end retailers.
"It seems club amenities have taken over the city, and they’re spectacular."
Q: In a nutshell, what is the purpose of an offering plan and why are they so long and complex?
An offering plan is a statutory requirement under the Martin Act. If you’re making a public offering, whether a condominium or a cooperative, it must be registered and disclosed through the Attorney General’s office. The goal is buyer protection. The offering plan ensures buyers receive all required information and understand exactly what they’re purchasing.
That said, the regulations are archaic and haven’t kept up with the modern development landscape. There isn’t enough bandwidth at the AG's office to fully update their scope, so offering plans have grown to hundreds of pages.
Part of it is the litigation landscape. The special risk sections outline what buyers must be aware of, especially first-time condo buyers, and those disclosures have expanded dramatically. Twenty years ago, the special risk sections might have been five pages, today they can be forty because litigations have become so forward-facing. What is better for a buyer than to be armed with information — special information! Its purpose to let people know fully what they are getting into.
Part of it is the litigation landscape. The special risk sections outline what buyers must be aware of, especially first-time condo buyers, and those disclosures have expanded dramatically. Twenty years ago, the special risk sections might have been five pages, today they can be forty because litigations have become so forward-facing. What is better for a buyer than to be armed with information — special information! Its purpose to let people know fully what they are getting into.
Another part is that today’s residential buildings deliver so much more. These projects have become more sophisticated than ever, with extraordinary amenity packages, automated parking systems, storage facilities, large wine cellars, and club-like programming that creates a whole community within the building.
Some buildings have wellness clubs, lounges, health facilities, restaurants, business amenities. Some clubs are even open to non-residents, which adds another layer of disclosure. All of these nuances require disclosure.
A great example is 520 Fifth Avenue, which will include the club Moss and a large office component. These hybrid, mixed-use buildings introduce complexities that have to be carefully drafted and disclosed to buyers. It's so they know what's happening and made aware of unforeseen things that can happen. The lens we draft is very disclosure heavy.
Q: How do amendments to offering plans work?
A: Amendments are required to update the plan throughout the construction and sales process. Typically, you file an annual amendment with updated financial statements, budgets, and any new information. Before the first closing, amendments are filed whenever there’s a material change, property description updates, litigation, and financing changes.
A plan must be declared effective before the first closing can happen, and that requires at least 15% of units to be sold. You can declare the plan effective anytime between 15% and 80% sold.
A plan must be declared effective before the first closing can happen, and that requires at least 15% of units to be sold. You can declare the plan effective anytime between 15% and 80% sold.
Newly launched condo developments now selling/pre-selling
Diamond Exchange Condo, Financial District
14 Maiden Lane
Developed by Diamond Lane LLC
Design by Morali Architects
10 stories | 152 feet
Nine two-bed condos
Anticipated asking prices: Starting from $2,580,000
14 Maiden Lane
Developed by Diamond Lane LLC
Design by Morali Architects
10 stories | 152 feet
Nine two-bed condos
Anticipated asking prices: Starting from $2,580,000
Originally built in 1893 as a diamond exchange, 14 Maiden Lane has been transformed into a boutique condominium with nine floor-through two-bedroom residences featuring high ceilings, chevron flooring, flexible layouts, and refined finishes throughout. Amenities include a renovated historic lobby with chandelier, virtual doorman service, package room, and optional private storage. The site is in clode proximity to City Hall Park, the new WTC, Wall Street, Printemps, and two major transit hubs.
32 Walker Street, Tribeca
Developed by Urban Capital Group LLC
Design by SOMA
6 stories | 90 feet
Five three-bed condos
Asking prices: $9.45M - $9.85M
Developed by Urban Capital Group LLC
Design by SOMA
6 stories | 90 feet
Five three-bed condos
Asking prices: $9.45M - $9.85M
In the Tribeca East Historic District, 32 Walker Street combines a preserved 19-century cast iron building with a new limestone-clad structure. All floor-through three-bedroom units feature high ceilings, floor-to-ceiling windows, custom Molteni kitchens, and luxurious primary suites with night bars and luxurious en suite baths. Amenities include doorman service, a mail room, a bike room, a fitness center with infrared sauna, and private storage for purchase.
220E9, East Village
220 East 9th Street
Developed by Arcus
Design by Colberg Architecture (conversion)
7 stories | 85 feet
18 one- to four-bed condos
Asking prices: $1.2M - $9.95M
220 East 9th Street
Developed by Arcus
Design by Colberg Architecture (conversion)
7 stories | 85 feet
18 one- to four-bed condos
Asking prices: $1.2M - $9.95M
220E9 expands a five-story parking garage into a seven-story boutique condominium with a red brick facade and oversized, factory-style windows. Interiors will feature high concrete ceilings, custom oak kitchens, and hand-crafted finishes throughout. Amenities include a 24-hour attended lobby, a fitness center with Pilates studio, a sauna, a pet grooming station, and private on-site parking.
The Myles, Chelsea
142 West 21st Street
Developed by Grid Group
Design by BKSK Architects
13 stories | 145 feet
22 two- to five-bed condos
Asking prices: $3M - $17M
142 West 21st Street
Developed by Grid Group
Design by BKSK Architects
13 stories | 145 feet
22 two- to five-bed condos
Asking prices: $3M - $17M
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In the Ladies Mile Historic District, The Myles offers a contemporary take on the surrounding architecture. Apartments will feature spacious living area with fireplaces, custom kitchens, home offices, marble baths, and spacious living areas. Private storage will be included with each residence, and amenities will include a 24-hour attended lobby, a fitness center with Pilates reformer and infrared sauna, private parking for purchase, and a landscaped roof terrace.
The Flatiron Building, Flatiron District
175 Fifth Avenue
Developed by The Brodsky Organization and Sorgente Group
Design by SLCE Architects (conversion)
24 stories | 285 feet
18 two- to five-bed condos
Asking prices: $10.95M - $50M
175 Fifth Avenue
Developed by The Brodsky Organization and Sorgente Group
Design by SLCE Architects (conversion)
24 stories | 285 feet
18 two- to five-bed condos
Asking prices: $10.95M - $50M
Amidst its conversion to condos, the iconic Flatiron Building's Beaux-Arts facade was meticulously restored to its original glory. Interiors by Studio Sofield feature expansive floor plans, oversized windows, hardwood floors, open kitchens with high-end appliances, primary suites with dressing rooms and luxurious baths, and in-unit Whirlpool washers and dryers.
The Sixth, North Williamburg
277 Kent Avenue
Developed by Joyland Group
Design by BKSK Architects
6 stories | 105 feet
43 studio to four-bed condos
Asking prices: $1.15M - $6.76M
277 Kent Avenue
Developed by Joyland Group
Design by BKSK Architects
6 stories | 105 feet
43 studio to four-bed condos
Asking prices: $1.15M - $6.76M
The Sixth is a new six-story condominium at 127 Kent Avenue, where BKSK Architects pairs a red brick façade and oversized industrial-style windows with 43 light-filled homes, each offering private outdoor space.
Interiors come with hardwood floors, high-end kitchens, and in-unit laundry, while amenities include a doorman, fitness center, coworking lounge, children’s playroom, and multiple landscaped outdoor spaces. Its North Williamsburg location puts residents near Marsha P. Johnson State Park, Bushwick Inlet Park, top dining and entertainment, the Bedford Ave. L, and the North Williamsburg ferry.
Interiors come with hardwood floors, high-end kitchens, and in-unit laundry, while amenities include a doorman, fitness center, coworking lounge, children’s playroom, and multiple landscaped outdoor spaces. Its North Williamsburg location puts residents near Marsha P. Johnson State Park, Bushwick Inlet Park, top dining and entertainment, the Bedford Ave. L, and the North Williamsburg ferry.
The Crescent, Williamsburg
76 North 8th Street
Developed by LTNG
Design by Pliskin Architecture
5 stories | 60 feet
Three one- to four-bed condos
Asking prices: $2.5M - $5.5M
76 North 8th Street
Developed by LTNG
Design by Pliskin Architecture
5 stories | 60 feet
Three one- to four-bed condos
Asking prices: $2.5M - $5.5M
The Crescent features a distinct curved facade, a classic brick design, and three expansive residences with oversized windows. Residents will arrive at their apartments via keyed elevator access, and apartments will feature abundant natural light, custom Scavolini kitchens, and private outdoor space.
Elara, Williamsburg
221 Frost Street
Developed by LTNG
Design by Pliskin Architecture
5 stories | 60 feet
10 one- to two-bed condos
Asking prices: $995K - $2.25M
221 Frost Street
Developed by LTNG
Design by Pliskin Architecture
5 stories | 60 feet
10 one- to two-bed condos
Asking prices: $995K - $2.25M
The Elara is an attractive boutique condominium on a peaceful Williamsburg street, albeit one near McCarren Park, Monsignor McGolrick Park, and trendy Williamsburg restaurants and nightlife. Interiors feature floor-to-ceiling windows, wide plank oak floors, kitchens with high-end appliances, video intercoms, and in-unit laundry. Many units have private outdoor space.
357 Leonard Street, Williamsburg
Developed by 357 Leonard St LLC
Design by LT Pro Construction Inc. (renovation)
3 stories | 35 feet
Three two- to three-bed condos
Asking prices: $2.19M - $2.5M
Developed by 357 Leonard St LLC
Design by LT Pro Construction Inc. (renovation)
3 stories | 35 feet
Three two- to three-bed condos
Asking prices: $2.19M - $2.5M
357 Leonard Street comprises three triplex residences, each topped with a private roof terrace. All interiors feature floor-to-ceiling double-pane windows, white oak floors, kitchens with integrated Bosch appliances, and primary suites with walk-in closets and luxurious en suite baths, laundry closets, and video intercoms. Private storage is available.
Boerum Place, Cobble Hill
110 Boerum Place
Developed by Avdoo & Partners Development
Design by Brent Buck Architects
6 stories | 75 feet
21 one- to five-bed condos
Asking prices: $1.48M - $7.75M
110 Boerum Place
Developed by Avdoo & Partners Development
Design by Brent Buck Architects
6 stories | 75 feet
21 one- to five-bed condos
Asking prices: $1.48M - $7.75M
Boerum Place is a low-rise, red brick boutique condominium spanning its entire Boerum Place blockfront and distinguished by its stepping from six stories to four. All residences will include private outdoor space, and additional amenity offerings are set to include a library, a lounge, a fitness center with movement studios, a spa with treatment rooms, a children's playroom, and a landscaped courtyard.
The Residences at Prospect Place, Crown Heights
701 Prospect Place
Developed by Kingsdel Real Estate
Design by StudioSC Architecture
6 stories | 78 feet
18 one- to two-bed condos
Asking prices: $495K - $2M
701 Prospect Place
Developed by Kingsdel Real Estate
Design by StudioSC Architecture
6 stories | 78 feet
18 one- to two-bed condos
Asking prices: $495K - $2M
At The Residences at Prospect Place, a new boutique condominium in Crown Heights, all units come with private outdoor space. Interiors feature floor-to-ceiling windows, 7" white oak flooring, open chef's kitchens with high-end appliances, and luxurious primary suites. The building is topped with a common roof terrace and offers private parking for purchase.
The Ridge, Ridgewood
1811 Menahan Street
Developed by 1811 Menahan St LLC
Design by Melamed Architect
4 stories | 54 feet
Six one- to two-bed condos
Asking prices: $499K - $1.1M
1811 Menahan Street
Developed by 1811 Menahan St LLC
Design by Melamed Architect
4 stories | 54 feet
Six one- to two-bed condos
Asking prices: $499K - $1.1M
At the nexus of Bushwick and Ridgewood, new boutique condominium The Ridge makes a modern new addition to its residential block. Four of the six condos have private outdoor space, and all interiors feature oversized windows, refined wide plank flooring, open kitchens with Blomberg appliances, spa-inspired baths, and smart home technology.
Paragon, Long Island City
45-40 Vernon Boulevard
Developed by ZD Jasper
Design by Archimaera (conversion)
23 stories | 268 feet
186 studio to four-bed condos
Asking prices: $655K - $4.65M
45-40 Vernon Boulevard
Developed by ZD Jasper
Design by Archimaera (conversion)
23 stories | 268 feet
186 studio to four-bed condos
Asking prices: $655K - $4.65M
Paragon represents the combination of the Paragon Paint Factory with a new 23-story tower. The height of the tower and its waterfront address promise beautiful river views and abundant natural light for the new apartments.
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
Would you like to tour any of these properties?
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