THE CONDO BOOK PROJECT

10-50 Jackson Avenue Condominium

10-50 Jackson Avenue, Queens, NY 11101

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Overview

Units
37 residential · 17 parking · 1 commercial
Subway
1 min walk to Vernon Blvd-Jackson Av 7Hunters Point Av 7, 5 min
Developers
Emmy Building Co., Inc., The Lions Group
Principals
Craig Axelrod, Edward Flax, Gary Axelrod, Robert Gordon
Average $/sf
$652Homes in Schedule A, as first offered
Offering price
$26.8 million total

The sponsor of record is Vantage At Jackson LLC, represented by Certilman Balin Adler & Hyman, LLP. The offering plan runs 293 pages. The sponsor has filed 10 amendments, the latest in September 2009. The nearest other condo plan on file is Anable Condominium, next door.

Plan CD060281 · New · accepted Feb 2, 2007 · AG record ↗

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FigureThis building123-23230 units · 2.1 miaccepted 2007Badge Building344 units · 0.2 miaccepted 2006
Common ChargesPer Square Foot / Month$0.64Below peers$0.90$0.66
Average Offering PricePer Apartment$543,757In line$400,567$604,545
Average PricePer Square Foot$652Above peers$610$585
Average Unit SizeSquare Feet834 SFIn line657 SF1,034 SF

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Unit mix, closings, budgets, finishes and the team, against 23-23 and Badge Building, cited to the offering plans. No credit card required.

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How We Got This
  • Comps: the closest Queens plans on size, $/SF and launch date, within 2 miles when possible.
  • Figures: each building's own offering plan, filed with the NY Attorney General. Nothing is estimated.
  • Checked: a price list publishes only when its math adds up, and building pages cite the plan pages.
  • Labels: In line is between the comps; Below/Above peers is past both by up to 15%; Lowest/Highest by more.

Closings Pro

Homes closed100% of the homes in Schedule A48 of 48
Closing prices vs. Schedule A48 homes: $28,120,691 at closing against $26,100,349 in Schedule A (p. 28, p. 29)+7.7%
Average closing price48 homes, on their Schedule A square feet$702 / SF
Closingsfirst and latest recordedNov 25, 2008 – Jun 29, 2010

Sales recorded with the Department of Finance (ACRIS) through Sep 30, 2026: deeds, or transfer tax filings for a building on leased land, of $10,000 or more. A home's first sale since the plan was filed is the sponsor's closing; resales aren't counted. Closing prices are compared with the same home's Schedule A price, as first offered; a deed covering more than one home isn't compared. Amendments often change prices before a home closes, and a deed that includes parking or storage counts its full price. ACRIS records a sale weeks after closing, so recent contracts don't appear yet. Every building's sales.

All 48 closings
HomeRecordedClosing priceSchedule ADifference
8ANov 25, 2008$798,152$984,846 p. 28−19%
8CNov 26, 2008$633,800$565,661 p. 28+12%
2EDec 17, 2008$421,216$414,931 p. 28+1.5%
4EDec 19, 2008$369,583$316,153 p. 28+16.9%
3DJan 15, 2009$491,628$428,628 p. 28+14.7%
12BJan 16, 2009$868,162$710,500 p. 29+22.2%
4BJan 21, 2009$663,329$561,828 p. 28+18.1%
11DJan 27, 2009$463,905$405,650 p. 29+14.4%
5CJan 28, 2009$806,659$721,713 p. 28+11.8%
3AJan 29, 2009$619,136$480,138 p. 28+28.9%
2DFeb 4, 2009$562,661$508,142 p. 28+10.7%
10AFeb 4, 2009$468,551$421,409 p. 29+11.2%
9BFeb 5, 2009$693,608$681,177 p. 28+1.8%
11AFeb 5, 2009$544,936$428,432 p. 29+27.2%
10CFeb 6, 2009$595,930$482,002 p. 29+23.6%
11BFeb 12, 2009$821,652$705,425 p. 29+16.5%
7BFeb 18, 2009$694,550$604,231 p. 28+14.9%
10DFeb 19, 2009$457,720$396,500 p. 29+15.4%
2BFeb 26, 2009$645,282$538,659 p. 28+19.8%
5AFeb 27, 2009$554,102$498,606 p. 28+11.1%
6AFeb 27, 2009$562,930$507,839 p. 28+10.8%
12CFeb 27, 2009$588,528$518,700 p. 29+13.5%
6CMar 13, 2009$862,667$735,078 p. 28+17.4%
4CMar 30, 2009$663,468$708,348 p. 28−6.3%
12AMar 30, 2009$927,900$872,200 p. 29+6.4%
6DMar 31, 2009$491,628$453,356 p. 28+8.4%
8BApr 8, 2009$882,375$779,591 p. 28+13.2%
7CApr 9, 2009$771,981$761,808 p. 28+1.3%
5BApr 13, 2009$661,116$572,429 p. 28+15.5%
6EApr 14, 2009$364,480$327,972 p. 28+11.1%
5DApr 21, 2009$484,399$445,113 p. 28+8.8%
5EMay 20, 2009$359,120$332,062 p. 28+8.1%
4DJun 5, 2009$458,690$436,871 p. 28+5%
4AJun 17, 2009$571,208$489,372 p. 28+16.7%
9DJun 26, 2009$439,200$390,400 p. 29+12.5%
3EAug 18, 2009$359,840$310,244 p. 28+16%
9ASep 17, 2009$400,500$414,385 p. 28−3.4%
3COct 5, 2009$645,000$692,976 p. 28−6.9%
2ANov 18, 2009$510,000$566,156 p. 28−9.9%
7DJan 13, 2010$425,000$461,599 p. 28−7.9%
9CJan 13, 2010$491,790$474,240 p. 28+3.7%
3BJan 20, 2010$593,640$551,228 p. 28+7.7%
6BFeb 2, 2010$567,976$583,030 p. 28−2.6%
7AFeb 12, 2010$610,950$526,306 p. 28+16.1%
7EMar 4, 2010$397,995$333,881 p. 28+19.2%
11CMar 11, 2010$498,888$492,765 p. 29+1.2%
10BJun 1, 2010$689,864$692,723 p. 29−0.4%
2CJun 29, 2010$665,000$815,046 p. 28−18.4%

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Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.

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Budget

From our research: The Sponsor's Condo-Creation Fee in NYC · NYC Condo Insurance Costs Are Rising · Condo Supplies Cost per Unit, by Size

Team

Sponsor
Vantage At Jackson LLC
Developers
Emmy Building Co., Inc., The Lions Group
Principals
Craig Axelrod, Edward Flax, Gary Axelrod, Robert Gordon
Tax estimate
Astro Realty Brokerage, LLCPrepared the first-year real estate tax projection
Construction lender
Cathay Bank

From our research: Do NYC Developers Rehire the Same Firms?

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