THE CONDO BOOK PROJECT

Bowery Bay Condominium

19-73 77th Street, Queens, NY 11370

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Overview

Units
11 residential
Subway
28 min walk to Astoria-Ditmars Blvd N WAstoria Blvd N W, 30 min
Principals
Demetrios K. Gianopoulos, Joseph A. Sultana, Robinson Eliodromytis, Vincent Peluso
Offering price
$6.27 million total

The sponsor of record is 1973 Holdings, LLC, represented by Rothkurg Rothkurg & Spector, Attorneys At Law. The offering plan runs 283 pages. The sponsor has filed 1 amendment, the latest in March 2009. The nearest other condo plan on file is Astoria Homes Condominium, 0.4 mi away.

Plan CD080572 · New · accepted Feb 25, 2009 · AG record ↗

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FigureThis building1Arista 35222 units · 1.2 miaccepted 2009Elm Street39 units · 1.8 miaccepted 2011
Average Offering PricePer Apartment$547,950Above peers$531,091$422,222

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Unit mix, closings, budgets, finishes and the team, against Arista 35 and Elm Street, 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 A11 of 11
Closing prices vs. Schedule A11 homes: $4,261,840 at closing against $6,027,450 in Schedule A (p. 28)−29.3%
Closingsfirst and latest recordedOct 23, 2009 – Feb 22, 2011

Sales recorded with the Department of Finance (ACRIS) through Jan 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 11 closings
HomeRecordedClosing priceSchedule ADifference
2AOct 23, 2009$385,320$479,050 p. 28−19.6%
2COct 28, 2009$389,000$503,750 p. 28−22.8%
3ADec 3, 2009$327,000$445,900 p. 28−26.7%
1DDec 29, 2009$325,000$475,150 p. 28−31.6%
2DJan 13, 2010$402,000$547,300 p. 28−26.5%
1CFeb 2, 2010$382,000$549,900 p. 28−30.5%
2BFeb 12, 2010$362,520$371,800 p. 28−2.5%
3CFeb 19, 2010$480,000$711,750 p. 28−32.6%
1BNov 23, 2010$391,404$664,950 p. 28−41.1%
3BDec 30, 2010$424,866$625,300 p. 28−32.1%
1AFeb 22, 2011$392,730$652,600 p. 28−39.8%

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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
1973 Holdings, LLC
Principals
Demetrios K. Gianopoulos, Joseph A. Sultana, Robinson Eliodromytis, Vincent Peluso
Tax estimate
Rothkrug Rothkrug & Spector, LLPPrepared the first-year real estate tax projection

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

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