THE CONDO BOOK PROJECT

Plaza 21 Condominium

23-11 21st Avenue, Queens, NY 11105

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Overview

Units
36 residential · 24 parking · 21 storage · 1 commercial
Subway
18 min walk to Astoria-Ditmars Blvd N WAstoria Blvd N W, 26 min
Principals
Marc Naim, Nejat Shavolian, Peyman Yedid, Roya Amirian
Offering price
$19.4 million total

The sponsor of record is 21 Ave LLC, represented by Certilman Balin Adler & Hyman, LLP. The offering plan runs 430 pages. The sponsor has filed 7 amendments, the latest in December 2012. The nearest other condo plan on file is 21-01 21st Street Condominium, next door.

Plan CD090115 · New · accepted Jul 16, 2009 · AG record ↗

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FigureThis building1Arista 35222 units · 0.9 miaccepted 200923-23330 units · 1.3 miaccepted 2007
Average Offering PricePer Apartment$538,198Above peers$531,091$400,567

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Unit mix, closings, budgets, finishes and the team, against Arista 35 and 23-23, 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.

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
21 Ave LLC
Principals
Marc Naim, Nejat Shavolian, Peyman Yedid, Roya Amirian
Tax estimate
Stanley NatkinsPrepared the first-year real estate tax projection
Construction lender
Capital One

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

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