THE CONDO BOOK PROJECT

Grandview Commons Condominium

145-38 34th Avenue, Queens, NY 11354

Overview

Units
55 residential · 28 parking · 5 commercial
Subway
17 min walk to Flushing-Main St 7
Principals
Jian Ting Zheng, Ren Ji Zheng, Xin Lin, Yi Di Lin
Offering price
$45.3 million total $39.4 million when first offered

The sponsor of record is 145-36 Realty, LLC, represented by Thomas E. Berinato, Attorney At Law. The offering plan runs 314 pages. The sponsor has filed 4 amendments, the latest in August 2020. The nearest other condo plan on file is Hong Ye Condominium, next door.

Plan CD170170 · New · accepted Jan 2, 2018 · AG record ↗

Compare

FigureThis building1Northern Tower234 units · 0.4 miaccepted 2020Parkview380 units · 1.3 miaccepted 2020
Average Offering PricePer Apartment$717,073In line$691,516$795,796

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Unit mix, closings, budgets, finishes and the team, against Northern Tower and Parkview, 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 the plan55 of 55
Closingsfirst and latest recordedAug 13, 2018 – Sep 10, 2021

Sales recorded with the Department of Finance (ACRIS) through May 31, 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 60 closings
HomeRecordedClosing priceSchedule ADifference
5JAug 13, 2018$532,545——
4JSep 6, 2018$522,362——
3BSep 17, 2018$702,593——
3HSep 21, 2018$580,403——
3JSep 24, 2018$498,888——
4AOct 10, 2018$476,580——
4IOct 15, 2018$560,038——
7IOct 25, 2018$702,593——
6ANov 8, 2018$444,639——
2ENov 14, 2018$763,688——
6JNov 15, 2018$600,768——
5INov 27, 2018$608,914——
5ADec 20, 2018$440,076——
C2Jan 11, 2019$2,212,973one deed, 8 homes——
C3Jan 11, 2019$2,212,973one deed, 8 homes——
C4Jan 11, 2019$2,212,973one deed, 8 homes——
2AFeb 28, 2019$358,412——
2DFeb 28, 2019$307,496——
3IFeb 28, 2019$238,540——
4FFeb 28, 2019$325,469one deed, 2 homes——
4GFeb 28, 2019$209,675——
4HFeb 28, 2019$243,752——
5BFeb 28, 2019$306,294——
5FFeb 28, 2019$295,469——
6BFeb 28, 2019$292,663——
6CFeb 28, 2019$248,964——
6FFeb 28, 2019$280,636——
7FFeb 28, 2019$211,679——
2CMar 13, 2019$305,893——
3DMar 13, 2019$322,330——
3FMar 13, 2019$295,469——
4BMar 13, 2019$366,294one deed, 3 homes——
4DMar 13, 2019$352,330one deed, 2 homes——
5EMar 13, 2019$280,636——
5HMar 13, 2019$243,752——
7AMar 13, 2019$276,089one deed, 3 homes——
7CMar 13, 2019$309,317——
2BMar 20, 2019$303,487——
3AMar 20, 2019$1,216,551one deed, 8 homes——
3CMar 20, 2019$1,063,942one deed, 5 homes——
3EMar 20, 2019$1,063,942one deed, 5 homes——
3GMar 20, 2019$1,063,942one deed, 5 homes——
4CMar 20, 2019$977,345one deed, 5 homes——
5CMar 20, 2019$331,150——
5DMar 20, 2019$322,330——
5GMar 20, 2019$1,216,551one deed, 8 homes——
6DMar 20, 2019$1,216,551one deed, 8 homes——
6EMar 20, 2019$1,063,942one deed, 5 homes——
6GMar 20, 2019$295,469——
6KMar 20, 2019$977,345one deed, 5 homes——
7BMar 20, 2019$1,216,551one deed, 8 homes——
7DMar 20, 2019$977,345one deed, 5 homes——
7EMar 20, 2019$249,297one deed, 2 homes——
7GMar 20, 2019$1,216,551one deed, 8 homes——
7HMar 20, 2019$977,345one deed, 5 homes——
6HApr 15, 2019$209,675——
4EOct 21, 2020$314,984one deed, 2 homes——
6IApr 14, 2021$545,000——
C1Aug 9, 2021$458,213——
C5Sep 10, 2021$1,395,000one deed, 7 homes——

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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
145-36 Realty, LLC
Principals
Jian Ting Zheng, Ren Ji Zheng, Xin Lin, Yi Di Lin
Tax estimate
Thomas E. BerinatoPrepared the first-year real estate tax projection
Construction lender
Cathay Bank$9 million recorded

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

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