THE CONDO BOOK PROJECT

18-65 Linden Street Condominium

18-65 Linden Street, Queens, NY 11385

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Overview

Units
3 residential
Subway
4 min walk to Seneca Av MForest Av M, 8 min
Principals
Mary McSorley, Paul A. Kerzner
Average $/sf
$408Homes in Schedule A, as first offered
Common charges
$296–$337 a monthSponsor's first-year estimate in Schedule A, December 1, 2007 – November 30, 2008
Offering price
$1.65 million total

The sponsor of record is 1865 Linden Street Hdfc, represented by Allen J. Kone. The offering plan runs 224 pages. The sponsor has filed 1 amendment, the latest in October 2012. The nearest other condo plan on file is 607 Onderdonk Avenue Condominium, next door.

Plan CD070566 · New · accepted Nov 28, 2007 · AG record ↗

Closings Pro

Homes closed100% of the homes in Schedule A3 of 3
Closing prices vs. Schedule A3 homes: $1,304,255 at closing against $1,652,000 in Schedule A (p. 34)−21%
Average closing price3 homes, on their Schedule A square feet$322 / SF
Closingsfirst and latest recordedFeb 14, 2013 – Feb 10, 2014

Sales recorded with the Department of Finance (ACRIS) through Sep 30, 2023: 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 3 closings
HomeRecordedClosing priceSchedule ADifference
3Feb 14, 2013$384,750$550,000 p. 34−30%
1Aug 28, 2013$468,255$577,000 p. 34−18.8%
2Feb 10, 2014$451,250$525,000 p. 34−14%

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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
1865 Linden Street Hdfc
Principals
Mary McSorley, Paul A. Kerzner
Tax estimate
Allen J. Kone, Esq.Prepared the first-year real estate tax projection

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

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