THE CONDO BOOK PROJECT

Parsons Garden Condominium Two

153-52 76th Road, Queens, NY 11367

Overview

Units
22 residential · 23 parking · 2 commercial
Subway
25 min walk to Parsons Blvd FBriarwood E F, 28 min
Principals
Hui Chen, Feng Jin Wang, Zhu Mei Chen
Average $/sf
$841Homes in Schedule A, as first offered
Common charges
$224–$345 a monthSponsor's first-year estimate in Schedule A, June 1, 2021 to May 31, 2022
Offering price
$18.1 million total $15.9 million when first offered

The sponsor of record is Parsons Construction Queens LLC, represented by Thomas E. Berinato, Attorney At Law. The offering plan runs 306 pages. The sponsor has filed 2 amendments, the latest in March 2022. The nearest other condo plan on file is Parsons Garden Condominium One, next door.

Plan CD200157 · New · accepted Mar 10, 2021 · AG record ↗

Compare

FigureThis building1Garden Lane219 units · 1.8 miaccepted 2021Golden Garden323 units · 1.6 miaccepted 2020
Common ChargesPer Square Foot / Month$0.37In line$0.68$0.33
Average Offering PricePer Apartment$659,242In line$509,737$1.06M
Average PricePer Square Foot$841In line$835$1,046
Property TaxesPer Square Foot / Month$0.03Lowest$0.62$1.00
Average Unit SizeSquare Feet784 SFIn line610 SF1,016 SF

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Unit mix, closings, budgets, finishes and the team, against Garden Lane 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 closed100% of the homes in Schedule A22 of 22
Closing prices vs. Schedule A22 homes: $14,370,107 at closing against $14,503,320 in Schedule A (p. 35)−0.9%
Average closing price22 homes, on their Schedule A square feet$833 / SF
Closingsfirst and latest recordedNov 9, 2021 – Jun 23, 2022

Sales recorded with the Department of Finance (ACRIS) through Dec 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 22 closings
HomeRecordedClosing priceSchedule ADifference
1DNov 9, 2021$700,556$701,920 p. 35−0.2%
3ANov 23, 2021$720,188$707,840 p. 35+1.7%
2FNov 29, 2021$782,016$725,420 p. 35+7.8%
1BNov 30, 2021$738,231$652,720 p. 35+13.1%
3DNov 30, 2021$687,319$672,840 p. 35+2.2%
3HDec 6, 2021$570,220$573,760 p. 35−0.6%
2GDec 9, 2021$650,652$588,990 p. 35+10.5%
3GDec 15, 2021$600,768$595,760 p. 35+0.8%
1ADec 17, 2021$814,600$731,440 p. 35+11.4%
3CDec 20, 2021$829,874$777,840 p. 35+6.7%
2HDec 21, 2021$576,330$567,240 p. 35+1.6%
2IDec 21, 2021$549,855$522,870 p. 35+5.2%
3EDec 21, 2021$665,895$603,960 p. 35+10.3%
3BJan 7, 2022$697,501$668,640 p. 35+4.3%
2DJan 12, 2022$677,136$664,830 p. 35+1.9%
3FFeb 23, 2022$712,775$734,160 p. 35−2.9%
1CMar 28, 2022$753,505$759,320 p. 35−0.8%
2EApr 15, 2022$607,661$596,770 p. 35+1.8%
3IMay 3, 2022$575,311$528,880 p. 35+8.8%
2BJun 8, 2022$743,832$660,680 p. 35+12.6%
2AJun 23, 2022$340,704$698,860 p. 35−51.2%
2CJun 23, 2022$375,180$768,580 p. 35−51.2%

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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
Parsons Construction Queens LLC
Principals
Hui Chen, Feng Jin Wang, Zhu Mei Chen
Construction lender
Cathay Bank

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

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