1671 Summerfield Street Condominium
1671 Summerfield Street, Queens, NY 11385
Overview
- Units
- 28 residential · 14 parking · 11 storage
- Subway
- 4 min walk to Halsey St LMyrtle-Wyckoff Avs L M, 13 min
- Developer
- Urban View Development Corporation
- Principals
- Nadav Hamo
- Average $/sf
- $899Homes in Schedule A, as first offered
- Common charges
- $321–$543 a monthSponsor's first-year estimate in Schedule A, October 1, 2021 - September 30, 2022
- Offering price
- $17.5 million total $17 million when first offered
- Floor plans
- Page 26 of the plan
The sponsor of record is Summerfield Group Ventures LLC, represented by Jeffrey Zwick & Associates, P.C.. The offering plan runs 366 pages. The sponsor has filed 3 amendments, the latest in July 2023. The nearest other condo plan on file is 1661 Summerfield Street Condominium, next door.
Plan CD210050 · New · accepted Jun 23, 2021 · AG record ↗
Compare
| Figure | This building1 | 1661 Summerfield228 units · 0 miaccepted 2022 | Garden Lane319 units · 3.5 miaccepted 2021 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $0.55Below peers | $0.57 | $0.68 |
| Average Offering PricePer Apartment | $585,714In line | $585,714 | $509,737 |
| Average PricePer Square Foot | $899In line | $899 | $835 |
| Property TaxesPer Square Foot / Month | $0.21Below peers | $0.22 | $0.62 |
| Average Unit SizeSquare Feet | 652 SFIn line | 652 SF | 610 SF |
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Unit mix, closings, budgets, finishes and the team, against 1661 Summerfield and Garden Lane, cited to the offering plans. No credit card required.
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- 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 closed100% of the homes in Schedule A | 28 of 28 |
| Closing prices vs. Schedule A28 homes: $16,545,448 at closing against $16,400,000 in Schedule A (p. 35) | +0.9% |
| Average closing price28 homes, on their Schedule A square feet | $907 / SF |
| Closingsfirst and latest recorded | Jun 30, 2022 – Jun 4, 2024 |
Sales recorded with the Department of Finance (ACRIS) through Nov 30, 2024: 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 28 closings
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| 1B | Jun 30, 2022 | $745,000 | $615,000 p. 35 | +21.1% |
| PHF | Jul 12, 2022 | $570,000 | $545,000 p. 35 | +4.6% |
| 4C | Jul 14, 2022 | $598,000 | $575,000 p. 35 | +4% |
| 2E | Jul 19, 2022 | $517,500 | $545,000 p. 35 | −5% |
| 2G | Jul 20, 2022 | $739,000 | $690,000 p. 35 | +7.1% |
| 2F | Jul 21, 2022 | $525,000 | $560,000 p. 35 | −6.2% |
| PHC | Jul 26, 2022 | $733,140 | $570,000 p. 35 | +28.6% |
| PHG | Jul 26, 2022 | $775,000 | $670,000 p. 35 | +15.7% |
| 2C | Aug 1, 2022 | $499,000 | $575,000 p. 35 | −13.2% |
| 2D | Aug 1, 2022 | $499,000 | $545,000 p. 35 | −8.4% |
| 1A | Aug 9, 2022 | $745,000 | $745,000 p. 35 | 0% |
| PHE | Aug 18, 2022 | $585,000 | $530,000 p. 35 | +10.4% |
| 4E | Sep 19, 2022 | $549,000 | $545,000 p. 35 | +0.7% |
| 2A | Oct 26, 2022 | $499,000 | $570,000 p. 35 | −12.5% |
| 4A | Oct 31, 2022 | $535,000 | $570,000 p. 35 | −6.1% |
| 3G | Dec 20, 2022 | $724,000 | $690,000 p. 35 | +4.9% |
| PHD | Jan 4, 2023 | $592,500 | $530,000 p. 35 | +11.8% |
| 4F | Jan 13, 2023 | $594,000 | $560,000 p. 35 | +6.1% |
| 3A | Feb 22, 2023 | $546,500 | $570,000 p. 35 | −4.1% |
| 3E | Mar 3, 2023 | $560,000 | $545,000 p. 35 | +2.8% |
| 4D | Mar 16, 2023 | $565,000 | $545,000 p. 35 | +3.7% |
| 3F | Apr 3, 2023 | $525,000 | $560,000 p. 35 | −6.2% |
| 3D | Apr 19, 2023 | $540,000 | $545,000 p. 35 | −0.9% |
| 3C | Apr 27, 2023 | $530,000 | $575,000 p. 35 | −7.8% |
| 4G | Apr 28, 2023 | $740,000 | $690,000 p. 35 | +7.2% |
| 3B | May 11, 2023 | $499,000 | $580,000 p. 35 | −14% |
| 2B | Dec 21, 2023 | $490,808 | $580,000 p. 35 | −15.4% |
| 4B | Jun 4, 2024 | $525,000 | $580,000 p. 35 | −9.5% |
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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.
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
- Summerfield Group Ventures LLC
- Developer
- Urban View Development Corporation
- Principals
- Nadav Hamo
- Tax estimate
- Metropolitan Realty ExemptionsPrepared the first-year real estate tax projection
- Construction lender
- Goldman Sachs Bank$4.59 million recorded
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- 1661 Summerfield Street Condominiumnext door · 28 units · 14 parking · 2022
- Summerfield Condominiumnext door · 4 units · 2008
- 1736 George Street Condominium0.2 mi · 2 units · 2022
- 15-06 Decatur Street Condominium0.3 mi · 6 units · 2019
- 1647 Hancock Street Condominium0.3 mi · 3 units
- 310 Schaefer Street Condominium0.3 mi · 6 units · 2 parking