THE CONDO BOOK PROJECT

Parthenon Two Condominium

148-36 89th Avenue, Queens, NY 11432

Overview

Units
27 residential · 8 parking
Subway
6 min walk to Sutphin Blvd FParsons Blvd F, 6 min
Principals
Tamal Monsur
Offering price
$15.5 million total

The sponsor of record is Parthenon LLC, represented by Thomas E. Berinato, Attorney At Law. The offering plan runs 320 pages. The sponsor has filed 4 amendments, the latest in December 2022. The nearest other condo plan on file is Aftab Parkview Condominium, next door.

Plan CD190114 · New · accepted Jun 8, 2020 · AG record ↗

Compare

FigureThis building1Parsons Garden Condominium Two222 units · 1.4 miaccepted 2021Garden Lane319 units · 1.6 miaccepted 2021
Average Offering PricePer Apartment$540,606In line$659,242$509,737

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Unit mix, closings, budgets, finishes and the team, against Parsons Garden Condominium Two and Garden Lane, 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 closed19% of the homes in Schedule A5 of 27
Closing prices vs. Schedule A5 homes: $1,551,365 at closing against $1,904,450 in Schedule A (p. 34)−18.5%
Closingsfirst and latest recordedNov 2, 2022 – Mar 19, 2025

Sales recorded with the Department of Finance (ACRIS) through Mar 31, 2025: 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 5 closings
HomeRecordedClosing priceSchedule ADifference
3BNov 2, 2022$352,450$437,450 p. 34−19.4%
1ANov 16, 2022$216,505$245,000 p. 34−11.6%
2CNov 21, 2022$300,000$384,800 p. 34−22%
2BApr 26, 2023$319,410$423,150 p. 34−24.5%
5CMar 19, 2025$363,000$414,050 p. 34−12.3%

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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
Parthenon LLC
Principals
Tamal Monsur
Tax estimate
EL Group, Inc.Prepared the first-year real estate tax projection

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

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