THE CONDO BOOK PROJECT

11-16 Main Avenue Condominium

11-16 Main Avenue, Queens, NY 11102

Overview

Units
30 residential · 21 storage · 1 commercial
Subway
13 min walk to 30 Av N WAstoria Blvd N W, 15 min
Principals
Halil Todic
Average $/sf
$1,257Homes in Schedule A, as first offered
Offering price
$30.4 million total

The sponsor of record is 11-25 30th Avenue Holdings LLC, represented by Marans, Weisz & Newman LLC. The offering plan runs 348 pages. The sponsor has filed 2 amendments, the latest in May 2023. The nearest other condo plan on file is Bennett Condominium, next door.

Plan CD200315 · New · accepted Aug 9, 2021 · AG record ↗

Compare

FigureThis building1Novo I Lic A/K/A Moderna I232 units · 1.2 miaccepted 2021Novo Lic333 units · 1.2 miaccepted 2021
Common ChargesPer Square Foot / Month$0.61Below peers$0.73$0.66
Average Offering PricePer Apartment$899,223Highest$736,302$745,249
Average PricePer Square Foot$1,257Above peers$1,208$1,209
Average Unit SizeSquare Feet715 SFLargest610 SF616 SF

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Unit mix, closings, budgets, finishes and the team, against Novo I Lic A/K/A Moderna I and Novo Lic, 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 A30 of 30
Closing prices vs. Schedule A30 homes: $21,584,295 at closing against $26,976,690 in Schedule A (p. 51)−20%
Average closing price30 homes, on their Schedule A square feet$1,006 / SF
Closingsfirst and latest recordedJun 3, 2022 – Nov 14, 2023

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 30 closings
HomeRecordedClosing priceSchedule ADifference
7BJun 3, 2022$1,200,225$1,200,225 p. 510%
2DJun 8, 2022$594,682$636,000 p. 51−6.5%
3DJun 22, 2022$630,000$757,870 p. 51−16.9%
6AJun 27, 2022$858,300$858,300 p. 510%
4AJul 14, 2022$700,000$830,900 p. 51−15.8%
6BJul 28, 2022$865,000$901,110 p. 51−4%
4DAug 18, 2022$655,000$770,590 p. 51−15%
7DAug 25, 2022$930,000$1,202,800 p. 51−22.7%
7ASep 19, 2022$725,000$918,450 p. 51−21.1%
6EOct 6, 2022$760,000$932,590 p. 51−18.5%
6DOct 25, 2022$610,000$796,030 p. 51−23.4%
2EOct 31, 2022$610,950$742,000 p. 51−17.7%
2CNov 4, 2022$675,000$954,625 p. 51−29.3%
1ANov 10, 2022$617,585$802,025 p. 51−23%
5DNov 14, 2022$635,000$783,310 p. 51−18.9%
3ANov 15, 2022$672,045$817,200 p. 51−17.8%
7CNov 28, 2022$697,501$961,775 p. 51−27.5%
3BDec 27, 2022$666,954$858,270 p. 51−22.3%
4BMar 31, 2023$738,231$872,550 p. 51−15.4%
2AApr 14, 2023$850,239$1,195,350 p. 51−28.9%
6CMay 18, 2023$666,954$907,500 p. 51−26.5%
4EMay 19, 2023$661,863$902,950 p. 51−26.7%
5EJun 9, 2023$682,228$917,770 p. 51−25.7%
5BAug 25, 2023$720,000$886,830 p. 51−18.8%
4COct 17, 2023$640,000$878,900 p. 51−27.2%
3EOct 19, 2023$728,049$888,130 p. 51−18%
5COct 19, 2023$672,500$893,200 p. 51−24.7%
2BOct 23, 2023$780,000$1,200,240 p. 51−35%
5ANov 1, 2023$690,000$844,600 p. 51−18.3%
3CNov 14, 2023$650,990$864,600 p. 51−24.7%

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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
11-25 30th Avenue Holdings LLC
Principals
Halil Todic
Tax estimate
Korngold Powers LLPPrepared the first-year real estate tax projection
Construction lender
11-16 Main 9200

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

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