THE CONDO BOOK PROJECT

Jackson

13-33 Jackson Avenue, Queens, NY 11101

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Overview

Units
55 residential · 22 parking · 1 commercial
Subway
1 min walk to 21 St GHunters Point Av 7, 4 min
Developers
CGS Developers, The Shuster Group
Principals
Tien Vominh, Roni Benjamini, Samuel Charney
Average $/sf
$1,340Homes in Schedule A, as first offered
Offering price
$73.1 million total

The sponsor of record is 11-51 47th Real LLC, represented by Starr Associates LLP. The offering plan runs 486 pages. The sponsor has filed 18 amendments, the latest in March 2018. The nearest other condo plan on file is Urban21, next door.

Plan CD150382 · New · accepted Feb 10, 2016 · AG record ↗

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FigureThis building143rd286 units · 0.5 miaccepted 2015Qns 44349 units · 0.2 miaccepted 2017
Common ChargesPer Square Foot / Month$1.01In line$1.45$0.45
Average Offering PricePer Apartment$1.23MAbove peers$827,151$1.13M
Average PricePer Square Foot$1,340Above peers$1,091$1,267
Average Unit SizeSquare Feet919 SFLarger758 SF888 SF

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Unit mix, closings, budgets, finishes and the team, against 43rd and Qns 44, 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 closed98% of the homes in Schedule A54 of 55
Closing prices vs. Schedule A51 homes: $60,465,151 at closing against $59,270,000 in Schedule A (p. 46)+2%
Average closing price51 homes, on their Schedule A square feet$1,317 / SF
Closingsfirst and latest recordedSep 7, 2017 – Dec 21, 2018

Sales recorded with the Department of Finance (ACRIS) through Jun 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 54 closings
HomeRecordedClosing priceSchedule ADifference
6BSep 7, 2017$1,376,888$1,275,000 p. 46+8%
10BSep 7, 2017$959,405$910,000 p. 46+5.4%
5ESep 11, 2017$781,211$745,000 p. 46+4.9%
6ASep 12, 2017$1,249,606$1,250,000 p. 46−0%
2FSep 14, 2017$1,045,956$1,025,000 p. 46+2%
4DSep 15, 2017$760,846$720,000 p. 46+5.7%
7ESep 15, 2017$842,306$820,000 p. 46+2.7%
3ESep 18, 2017$730,299$715,000 p. 46+2.1%
7BSep 18, 2017$2,138,325$1,300,000 p. 46+64.5%
7FSep 18, 2017$1,222,479$1,325,000 p. 46−7.7%
3ASep 19, 2017$1,071,413$1,050,000 p. 46+2%
4ESep 19, 2017$765,938$740,000 p. 46+3.5%
7ASep 25, 2017$1,252,661$1,275,000 p. 46−1.8%
8BSep 25, 2017$2,140,575$1,325,000 p. 46+61.6%
8FSep 25, 2017$1,356,523$1,350,000 p. 46+0.5%
6ESep 26, 2017$816,850$795,000 p. 46+2.7%
8ASep 26, 2017$1,336,158$1,300,000 p. 46+2.8%
6GSep 27, 2017$1,712,910$1,550,000 p. 46+10.5%
9ASep 27, 2017$1,614,140$1,550,000 p. 46+4.1%
3FSep 28, 2017$1,135,525$1,100,000 p. 46+3.2%
3GSep 28, 2017$1,449,751$1,325,000 p. 46+9.4%
4CSep 28, 2017$745,573$730,000 p. 46+2.1%
2ASep 29, 2017$1,514,351$1,350,000 p. 46+12.2%
5DSep 29, 2017$809,509$755,000 p. 46+7.2%
2BOct 2, 2017$939,040$880,000 p. 46+6.7%
9COct 4, 2017$1,758,731$1,525,000 p. 46+15.3%
PHAOct 4, 2017$2,751,525——
3DOct 5, 2017$738,231$725,000 p. 46+1.8%
6COct 5, 2017$811,759$785,000 p. 46+3.4%
10COct 16, 2017$1,499,078$1,350,000 p. 46+11%
5AOct 20, 2017$1,234,333$1,150,000 p. 46+7.3%
9BOct 20, 2017$1,475,000$1,350,000 p. 46+9.3%
3BNov 15, 2017$682,010$1,060,000 p. 46−35.7%
3CNov 15, 2017$456,594$705,000 p. 46−35.2%
4BNov 15, 2017$674,092$1,085,000 p. 46−37.9%
4FNov 15, 2017$696,086$1,150,000 p. 46−39.5%
5BNov 15, 2017$1,214,986$1,465,000 p. 46−17.1%
9DNov 16, 2017$1,765,000$1,750,000 p. 46+0.9%
10DNov 16, 2017$1,795,000$1,750,000 p. 46+2.6%
7DNov 30, 2017$852,489$830,000 p. 46+2.7%
8GDec 8, 2017$1,647,529$1,600,000 p. 46+3%
6FJan 10, 2018$1,224,150$1,300,000 p. 46−5.8%
8EJan 24, 2018$893,219$845,000 p. 46+5.7%
4GJan 29, 2018$969,182$1,350,000 p. 46−28.2%
6DJan 29, 2018$816,850$805,000 p. 46+1.5%
5GFeb 26, 2018$1,027,364$1,475,000 p. 46−30.3%
8DFeb 28, 2018$893,219$855,000 p. 46+4.5%
10AApr 30, 2018$1,783,052$1,625,000 p. 46+9.7%
2GJun 13, 2018$1,661,998$1,725,000 p. 46−3.7%
PHBJun 26, 2018$2,991,741——
7GJul 19, 2018$1,629,200$1,575,000 p. 46+3.4%
5FJul 31, 2018$1,247,356$1,200,000 p. 46+3.9%
C3Aug 14, 2018$1,195,605——
4ADec 21, 2018$1,250,411$1,075,000 p. 46+16.3%

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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
11-51 47th Real LLC
Developers
CGS Developers, The Shuster Group
Principals
Tien Vominh, Roni Benjamini, Samuel Charney
Tax estimate
Tuchman Korngold Weiss Liebman & Gelles, LLPPrepared the first-year real estate tax projection
Construction lender
Santander Bank$25.7 million recorded

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

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