THE CONDO BOOK PROJECT

Rowan Condominium

21-21 31st Street, Queens, NY 11105

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Overview

Units
46 residential · 23 parking · 49 storage · 1 commercial
Subway
4 min walk to Astoria-Ditmars Blvd N WAstoria Blvd N W, 12 min
Developers
Douglaston Realty Management Corp., RockFarmer Properties
Principals
George Michelis, John Petras
Offering price
$75.4 million total

The sponsor of record is Rfc 31 Street I LLC; Rfc 31 Ccu LLC, represented by Seiden & Schein, P.C.. The offering plan runs 530 pages. The sponsor has filed 19 amendments, the latest in April 2024. The nearest other condo plan on file is Rowan Ii Condominium, next door.

Plan CD180303 · New · accepted Oct 9, 2019 · AG record ↗

Closings Pro

Homes closed100% of the homes in the plan46 of 46
Closingsfirst and latest recordedDec 16, 2021 – Sep 30, 2024

Sales recorded with the Department of Finance (ACRIS) through Jun 30, 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 69 closings
HomeRecordedClosing priceSchedule ADifference
4-EDec 16, 2021$1,575,357one deed, 2 homes——
ST-01Dec 16, 2021$1,575,357one deed, 2 homes——
2-HDec 17, 2021$738,231——
3-HDec 17, 2021$555,000——
3-JDec 17, 2021$767,304——
3-DDec 20, 2021$1,447,495one deed, 3 homes——
CAB5Dec 20, 2021$1,447,495one deed, 3 homes——
ST-39Dec 20, 2021$1,447,495one deed, 3 homes——
2-JDec 21, 2021$804,418one deed, 2 homes——
CAB2Dec 21, 2021$804,418one deed, 2 homes——
3-FDec 22, 2021$1,282,500one deed, 2 homes——
CAB3Dec 22, 2021$1,282,500one deed, 2 homes——
3-MDec 23, 2021$850,000one deed, 2 homes——
5-BDec 23, 2021$1,392,617——
5-FDec 23, 2021$1,095,350——
CAB1Dec 23, 2021$60,000——
ST-12Dec 23, 2021$850,000one deed, 2 homes——
3-CDec 27, 2021$870,000one deed, 2 homes——
4-LDec 27, 2021$871,464——
ST-14Dec 27, 2021$870,000one deed, 2 homes——
5-ADec 28, 2021$1,569,050——
5-EDec 30, 2021$1,415,000——
5-DJan 4, 2022$1,730,007——
6-DJan 6, 2022$1,683,729——
4-BJan 7, 2022$1,348,163one deed, 2 homes——
5-HJan 7, 2022$816,500one deed, 2 homes——
ST-15Jan 7, 2022$816,500one deed, 2 homes——
ST-37Jan 7, 2022$1,348,163one deed, 2 homes——
3-KJan 12, 2022$758,830——
4-CJan 13, 2022$892,617one deed, 2 homes——
ST-08Jan 13, 2022$892,617one deed, 2 homes——
3-GJan 14, 2022$846,460——
5-GJan 14, 2022$824,000one deed, 2 homes——
5-JJan 14, 2022$948,578one deed, 2 homes——
CAB4Jan 14, 2022$948,578one deed, 2 homes——
ST-06Jan 14, 2022$824,000one deed, 2 homes——
2-KJan 18, 2022$711,300——
2-LJan 19, 2022$825,000——
2-CJan 21, 2022$1,886,361——
4-GJan 21, 2022$813,938——
4-DJan 27, 2022$711,299——
2-EJan 28, 2022$1,305,958——
2-FJan 28, 2022$750,000——
2-GJan 28, 2022$534,940——
5-CJan 31, 2022$880,000——
3-LFeb 1, 2022$705,000——
4-KFeb 4, 2022$766,286——
4-HFeb 11, 2022$790,000one deed, 2 homes——
ST-36Feb 11, 2022$790,000one deed, 2 homes——
4-FFeb 15, 2022$1,495,357——
4-JFeb 16, 2022$799,000one deed, 2 homes——
ST-34Feb 16, 2022$799,000one deed, 2 homes——
2-AMar 1, 2022$2,549,000one deed, 2 homes——
ST-13Mar 1, 2022$2,549,000one deed, 2 homes——
2-BMar 11, 2022$1,614,000one deed, 2 homes——
ST-33Mar 11, 2022$1,614,000one deed, 2 homes——
6-CApr 20, 2022$2,398,617——
6-AMay 2, 2022$2,175,000——
6-BMay 5, 2022$2,310,000——
4-AJun 16, 2022$1,440,000one deed, 2 homes——
ST-40Jun 16, 2022$1,440,000one deed, 2 homes——
2-DJul 18, 2022$2,040,000——
3-ESep 30, 2022$1,500,000——
ST-04Oct 11, 2022$20,000one deed, 2 homes——
ST-05Oct 11, 2022$20,000one deed, 2 homes——
3-BOct 14, 2022$1,347,707——
ST-11Dec 1, 2022$20,789——
ST-09Aug 16, 2024$10,000——
RTLSep 30, 2024$6,250,000——

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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
Rfc 31 Street I LLC; Rfc 31 Ccu LLC
Developers
Douglaston Realty Management Corp., RockFarmer Properties
Principals
George Michelis, John Petras
Tax estimate
Goldberg Weprin Finkel Goldstein LLPPrepared the first-year real estate tax projection
Construction lender
Bank Hapoalim$34 million recorded

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

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