221 West 17th Street (The Dorian)Recorded sales & closing prices

The sponsor sold out the residential inventory quickly. Closings ran from March 2019 through August 2019 for twelve of the thirteen residences, with the commercial unit following in 2022. That compressed sellout means the building's original pricing is well documented and closely clustered in time, which is helpful — but it also means the resale record is thin. Fewer than ten resales have been recorded across the building since sellout.

Two structural features shape pricing. First, the split between the retained loft floors and the purpose-built penthouse volume produces two distinct tiers within a thirteen-unit building; penthouse residences with private outdoor space and southern exposure have consistently traded at a premium to the loft-floor plates below, and mixing the two in a comparable set produces misleading results. Second, several residences are held by entities rather than by individuals — trusts and limited liability companies appear repeatedly in the recorded chain, and one affiliated entity family has assembled more than one unit over time. That concentrates the building's ownership somewhat and thins the pool of units likely to come to market in any given year.

The right comparable set is Chelsea's small-format loft-conversion condominiums with large average unit sizes, not the neighborhood's larger new-development towers, whose common charges, amenity loads and tax positions are structurally different. Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.