THE CONDO BOOK PROJECT

Echelon Condominium

13-11 Jackson Avenue, Queens, NY 11101

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Overview

Units
54 residential · 28 parking · 2 commercial
Subway
1 min walk to 21 St GVernon Blvd-Jackson Av 7, 4 min
Principals
Yaron Hershco
Offering price
$31 million total

The sponsor of record is Jackson Avenue Realty, LLC, represented by Welby, Brady & Greenblatt, LLP. The offering plan runs 396 pages. The sponsor has filed 11 amendments, the latest in April 2013. The nearest other condo plan on file is East Of East Condominium, next door.

Plan CD060095 · New · accepted Jul 24, 2006 · AG record ↗

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FigureThis building1Badge Building244 units · 0.1 miaccepted 2006View 59339 units · 0.7 miaccepted 2006
Average Offering PricePer Apartment$573,889Below peers$604,545$613,205

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Unit mix, closings, budgets, finishes and the team, against Badge Building and View 59, 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.

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
Jackson Avenue Realty, LLC
Principals
Yaron Hershco
Tax estimate
Metropolitan Valuation ServicesPrepared the first-year real estate tax projection
Construction lender
Broadway Bank$20.8 million recorded

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

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