THE CONDO BOOK PROJECT

14-38 31st Road Condominium

14-38 31st Road, Queens, NY 11106

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Overview

Units
2 residential
Subway
12 min walk to Broadway N W30 Av N W, 14 min
Principals
Christine Polychroniades, Mike Polychroniades
Average $/sf
$1,590Homes in Schedule A, as first offered
Common charges
$282–$418 a monthSponsor's first-year estimate in Schedule A, August 1, 2020 - July 31, 2021
Offering price
$2.55 million total

The sponsor of record is Danata Realty, LLC, represented by The Law Office Of Claudia V. Murdoch, P.C.. The offering plan runs 207 pages. The sponsor has filed 2 amendments, the latest in May 2021. The nearest other condo plan on file is 14forty Condominium, next door.

Plan CD190295 · Rehab · accepted May 26, 2020 · AG record ↗

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FigureThis building127-21 27th28 units · 0.5 miaccepted 201921-2836 units · 1.6 miaccepted 2019
Common ChargesPer Square Foot / Month$0.44In line$0.67$0.34
Average Offering PricePer Apartment$1.27MHighest$946,406$1.11M
Average PricePer Square Foot$1,590Above peers$1,201$1,462
Property TaxesPer Square Foot / Month$0.60Lowest—$0.95
Average Unit SizeSquare Feet802 SFLarger788 SF757 SF

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Unit mix, closings, budgets, finishes and the team, against 27-21 27th and 21-28, 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 A2 of 2
Closing prices vs. Schedule A2 homes: $2,126,333 at closing against $2,550,000 in Schedule A (p. 18)−16.6%
Average closing price2 homes, on their Schedule A square feet$1,326 / SF
Closingsfirst and latest recordedJun 29, 2021 – Mar 4, 2022

Sales recorded with the Department of Finance (ACRIS) through Apr 30, 2022: 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 2 closings
HomeRecordedClosing priceSchedule ADifference
1Jun 29, 2021$1,080,000$1,450,000 p. 18−25.5%
2Mar 4, 2022$1,046,333$1,100,000 p. 18−4.9%

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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
Danata Realty, LLC
Principals
Christine Polychroniades, Mike Polychroniades
Tax estimate
MGNY ConsultingPrepared the first-year real estate tax projection

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

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