THE CONDO BOOK PROJECT

23-23 Condominium

23-23 31st Avenue, Queens, NY 11102

Overview

Units
30 residential · 15 parking
Subway
9 min walk to Broadway N W30 Av N W, 9 min
Developer
Capland Homes, Inc.
Principals
Bruno Cerrone, Robert Cerrone, Aldo Capogna, Frank Capogna, Giovanni Palazzo
Average $/sf
$610Homes in Schedule A, as first offered
Offering price
$12.7 million total

The sponsor of record is 210th Place Realty, LLC, represented by Certilman Balin Adler & Hyman, LLP. The offering plan runs 218 pages. The sponsor has filed 4 amendments, the latest in August 2009. The nearest other condo plan on file is Amalfi Condominium, next door.

Plan CD060412 · New · accepted Mar 19, 2007 · AG record ↗

Compare

FigureThis building1Badge Building244 units · 1.9 miaccepted 2006Vere343 units · 1.5 miaccepted 2008
Common ChargesPer Square Foot / Month$0.90In line$0.66$1.13
Average Offering PricePer Apartment$400,567Lowest$604,545$588,419
Average PricePer Square Foot$610In line$585$789
Average Unit SizeSquare Feet657 SFSmaller1,034 SF746 SF

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Unit mix, closings, budgets, finishes and the team, against Badge Building and Vere, 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 closed77% of the homes in Schedule A23 of 30
Closing prices vs. Schedule A12 homes: $4,515,888 at closing against $4,786,000 in Schedule A (p. 14, p. 15)−5.6%
Average closing price12 homes, on their Schedule A square feet$566 / SF
Closingsfirst and latest recordedNov 24, 2010 – May 3, 2011

Sales recorded with the Department of Finance (ACRIS) through Aug 31, 2025: 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 23 closings
HomeRecordedClosing priceSchedule ADifference
4FNov 24, 2010$379,236——
5CDec 3, 2010$380,000$382,000 p. 15−0.5%
7BDec 3, 2010$567,162——
2DDec 7, 2010$380,941$345,000 p. 14+10.4%
6FDec 9, 2010$423,000——
6DDec 13, 2010$378,222——
6ADec 15, 2010$405,600——
5DDec 16, 2010$378,000$339,000 p. 15+11.5%
6CDec 16, 2010$408,440——
5FDec 17, 2010$415,740——
2BDec 29, 2010$357,942$309,000 p. 14+15.8%
5EDec 29, 2010$389,883$589,000 p. 15−33.8%
4EJan 5, 2011$380,250$589,000 p. 15−35.4%
2CJan 13, 2011$375,000$289,000 p. 14+29.8%
6EJan 14, 2011$382,403——
5AJan 20, 2011$368,082$592,000 p. 15−37.8%
7CJan 27, 2011$651,171——
3CJan 31, 2011$375,180$289,000 p. 14+29.8%
2AFeb 1, 2011$349,830$225,000 p. 14+55.5%
7DFeb 7, 2011$420,810——
3FMar 2, 2011$380,250$509,000 p. 15−25.3%
7AMar 21, 2011$533,563——
4BMay 3, 2011$400,530$329,000 p. 15+21.7%

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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
210th Place Realty, LLC
Developer
Capland Homes, Inc.
Principals
Bruno Cerrone, Robert Cerrone, Aldo Capogna, Frank Capogna, Giovanni Palazzo
Tax estimate
Astro RealtyPrepared the first-year real estate tax projection

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

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