Cherry Tower
140-37 Cherry Avneue, Queens, NY 11354
Overview
- Units
- 21 residential · 3 commercial
- Subway
- 13 min walk to Flushing-Main St 7
- Principals
- Joe Chan
- Average $/sf
- $433Homes in Schedule A, as first offered
- Common charges
- $351–$975 a monthSponsor's first-year estimate in Schedule A, Twelve Month Period Commencing March 1, 2005 and ending February 28, 2006
- Offering price
- $8.59 million total
- Floor plans
- Pages 140–141 of the plan
The sponsor of record is Cherry Avenue Corp., represented by Chu & Partners. The offering plan runs 234 pages. The sponsor has filed 2 amendments, the latest in July 2005. The nearest other condo plan on file is Cherry Condominium, next door.
Plan CD040401 · New · accepted Mar 2, 2005 · AG record ↗
Compare
| Figure | This building1 | Happy Buddha Tower220 units · 0.7 miaccepted 2005 | Star Tower324 units · 0.1 miaccepted 2006 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $0.53Highest | $0.28 | $0.35 |
| Average Offering PricePer Apartment | $349,333In line | $297,660 | $389,914 |
| Average PricePer Square Foot | $433Below peers | $479 | $607 |
| Property TaxesPer Square Foot / Month | $0.04In line | $0.21 | $0.02 |
| Average Unit SizeSquare Feet | 806 SFLargest | 621 SF | 643 SF |
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See the Full Comp
Unit mix, closings, budgets, finishes and the team, against Happy Buddha Tower and Star Tower, cited to the offering plans. No credit card required.
Create a free accountHow 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.
Units & Prices
Closings Pro
| Homes closed96% of the homes in Schedule A | 23 of 24 |
| Closing prices vs. Schedule A23 homes: $7,802,131 at closing against $7,634,000 in Schedule A (p. 17, p. 18) | +2.2% |
| Average closing price23 homes, on their Schedule A square feet | $449 / SF |
| Closingsfirst and latest recorded | Oct 31, 2006 – Jan 9, 2015 |
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 23 closings
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| 2C | Oct 31, 2006 | $270,474 | $238,000 p. 17 | +13.6% |
| 4C | Oct 31, 2006 | $319,562 | $305,000 p. 17 | +4.8% |
| 5B | Oct 31, 2006 | $314,340 | $330,000 p. 17 | −4.7% |
| 8C | Nov 3, 2006 | $354,900 | $345,000 p. 18 | +2.9% |
| 5C | Nov 7, 2006 | $323,263 | $310,000 p. 17 | +4.3% |
| 8A | Nov 7, 2006 | $354,900 | $365,000 p. 18 | −2.8% |
| 8B | Nov 10, 2006 | $365,040 | $365,000 p. 18 | +0% |
| 2B | Nov 14, 2006 | $307,030 | $273,000 p. 17 | +12.5% |
| 5A | Nov 14, 2006 | $329,600 | $320,000 p. 17 | +3% |
| 7B | Nov 14, 2006 | $349,830 | $330,000 p. 18 | +6% |
| 4B | Nov 20, 2006 | $334,620 | $315,000 p. 17 | +6.2% |
| 6C | Nov 22, 2006 | $334,620 | $320,000 p. 18 | +4.6% |
| 3A | Dec 6, 2006 | $324,784 | $310,000 p. 17 | +4.8% |
| 2A | Jan 5, 2007 | $291,363 | $258,000 p. 17 | +12.9% |
| 1B | Jan 12, 2007 | $628,453 | $650,000 p. 17 | −3.3% |
| 7C | Jan 16, 2007 | $335,294 | $320,000 p. 18 | +4.8% |
| 3C | Jan 23, 2007 | $314,340 | $300,000 p. 17 | +4.8% |
| 3B | Feb 13, 2007 | $324,784 | $310,000 p. 17 | +4.8% |
| 7A | Mar 12, 2007 | $345,673 | $330,000 p. 18 | +4.7% |
| 4A | Mar 23, 2007 | $350,000 | $315,000 p. 17 | +11.1% |
| CA | Dec 23, 2010 | $170,000 | $375,000 p. 17 | −54.7% |
| 6A | Aug 29, 2011 | $363,800 | $325,000 p. 18 | +11.9% |
| 6B | Jan 9, 2015 | $395,460 | $325,000 p. 18 | +21.7% |
Pro
Closings are for subscribers
Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.
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
- Cherry Avenue Corp.
- Principals
- Joe Chan
- Counsel
- Chu & Partners
- Tax estimate
- Mazursky Group, Inc.Prepared the first-year real estate tax projection
- Construction lender
- Grand Pacific FinanceLender on the mortgage and building loan agreement recorded February 2004 in ACRIS; $3.2 million recorded
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- Cherry Condominiumnext door · 21 units · 7 parking · 2007
- Villas At Spaulding Green Condominiumnext door · 68 units · 2012
- Flushing Manor Condominiumnext door · 36 units · 10 parking · 2009
- Union Garden Condominiumnext door · 24 units · 7 parking · 2009
- Cherry Plaza Condominiumnext door · 25 units · 13 parking · 2023
- Shangri-La Tower Condominiumnext door · 42 units · 11 parking · 2007