THE CONDO BOOK PROJECT

Ying City Plaza Condominium

143-16 41st Avenue, Queens, NY 11355

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Overview

Units
34 residential · 10 parking · 2 commercial
Subway
7 min walk to Flushing-Main St 7
Principals
Brian Lin, Xuan Lin
Average $/sf
$1,000Homes in Schedule A, as first offered
Common charges
$189–$341 a monthSponsor's first-year estimate in Schedule A, July 1, 2023 to June 30, 2024
Offering price
$26.9 million total

The sponsor of record is Ying City Plaza Corp., represented by Thomas E. Berinato, Attorney At Law. The offering plan runs 309 pages. The sponsor has filed 2 amendments, the latest in August 2024. The nearest other condo plan on file is Madison Eight Tower Condominium, next door.

Plan CD220283 · New · accepted Jun 22, 2023 · AG record ↗

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FigureThis building1Cherry Plaza225 units · 0.3 miaccepted 2023Golden Garden333 units · 0.2 miaccepted 2022
Common ChargesPer Square Foot / Month$0.41Below peers$0.59$0.47
Average Offering PricePer Apartment$612,088In line$599,800$663,292
Average PricePer Square Foot$1,000In line$1,028$1,000
Property TaxesPer Square Foot / Month$0.44In line$0.48$0.19
Average Unit SizeSquare Feet612 SFIn line583 SF753 SF

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Unit mix, closings, budgets, finishes and the team, against Cherry Plaza and Golden Garden, 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 closed41% of the homes in Schedule A14 of 34
Closing prices vs. Schedule A14 homes: $8,313,517 at closing against $7,817,000 in Schedule A (p. 32)+6.4%
Average closing price14 homes, on their Schedule A square feet$1,064 / SF
Closingsfirst and latest recordedJul 29, 2024 – Feb 18, 2025

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 14 closings
HomeRecordedClosing priceSchedule ADifference
5AJul 29, 2024$542,524$518,000 p. 32+4.7%
6DAug 6, 2024$722,958$661,000 p. 32+9.4%
5DAug 8, 2024$712,775$661,000 p. 32+7.8%
2EAug 13, 2024$527,454$499,000 p. 32+5.7%
3EAug 16, 2024$573,275$540,000 p. 32+6.2%
4EAug 27, 2024$580,403$540,000 p. 32+7.5%
8ASep 4, 2024$600,768$518,000 p. 32+16%
6ESep 6, 2024$603,822$540,000 p. 32+11.8%
4DSep 9, 2024$702,593$661,000 p. 32+6.3%
2AOct 1, 2024$476,580$518,000 p. 32−8%
6AOct 1, 2024$507,000$518,000 p. 32−2.1%
5COct 30, 2024$494,832$464,000 p. 32+6.6%
3DJan 27, 2025$728,049$661,000 p. 32+10.1%
3AFeb 18, 2025$540,487$518,000 p. 32+4.3%

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Closings are for subscribers

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
Ying City Plaza Corp.
Principals
Brian Lin, Xuan Lin
Tax estimate
TAN ARCHITECT, P.C.Prepared the first-year real estate tax projection
Construction lender
Cathay Bank$5.75 million recorded

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

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