24-16 Queens Plaza South Condominium
24-16 Queens Plaza South, Queens, NY 11101
Overview
A 109-unit condo in Long Island City from a sponsor led by Silverback Development founder Joshua Schuster, built by adding 17 stories on top of an existing 5-story building. The plan counts on a 15-year 421-a tax abatement and runs the building with contracted staff and a virtual doorman system.
- Address: 24-16 Queens Plaza South, Long Island City, NY 11101, in the Special Long Island City Mixed Use District (M1-5/R9). No landmark status.
- Plan: CD190042, accepted for filing in July 2019
- Building: 22 stories, about 284 feet to the main roof, with homes on floors 2 to 5 and 7 to 22. Eight homes on floors 2 to 5 are duplexes.
- Residences: 109. The 7th floor has three homes with private terraces of about 410 to 920 square feet, and balconies sit on floors 8 to 22 at the northwest corner.
- Other units: one ground-floor Commercial Unit of about 3,700 square feet, owned by Creskir Properties and not part of the offering
- Storage: 39 cellar storage cages sold as licenses at $20,000 (about 16 square feet) or $25,000 (about 25 square feet), and 56 bike spaces at $2,000. No parking.
- First offering: all 109 homes at about $92.8 million in total, from $500,000 for a studio to about $1.4 million for a 918-square-foot one-bedroom (sponsor offering prices, not sales). With storage and bike licenses, the plan totals about $93.7 million.
Compare
| Figure | This building1 | Astoria 33264 units · 1 miaccepted 2020 | Mirella3108 units · 4.5 miaccepted 2020 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $0.94Above peers | $0.87 | $0.76 |
| Average Offering PricePer Apartment | $851,099Highest | $601,889 | $643,222 |
| Average PricePer Square Foot | $1,288Highest | $954 | $871 |
| Average Unit SizeSquare Feet | 661 SFIn line | 631 SF | 739 SF |
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Unit mix, closings, budgets, finishes and the team, against Astoria 33 and Mirella, cited to the offering plans. No credit card required.
Create a free accountHow 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.
Units & Prices
Closings Pro
| Homes closed100% of the homes in Schedule A | 109 of 109 |
| Closing prices vs. Schedule A96 homes: $79,313,963 at closing against $81,704,350 in Schedule A (p. 45, p. 46, p. 47) | −2.9% |
| Average closing price96 homes, on their Schedule A square feet | $1,294 / SF |
| Closingsfirst and latest recorded | Apr 2, 2020 – May 18, 2023 |
Sales recorded with the Department of Finance (ACRIS) through Sep 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 109 closings
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| 8A | Apr 2, 2020 | $890,000 | $875,500 p. 45 | +1.7% |
| 14A | Apr 8, 2020 | $1,250,000 | $1,313,250 p. 46 | −4.8% |
| 12B | Apr 9, 2020 | $775,000 | $746,750 p. 46 | +3.8% |
| 9E | Apr 10, 2020 | $738,231 | $690,100 p. 45 | +7% |
| 11E | Apr 14, 2020 | $763,688 | $710,700 p. 46 | +7.5% |
| 14B | May 1, 2020 | $794,235 | $777,650 p. 46 | +2.1% |
| 17E | May 12, 2020 | $621,133 | $576,800 p. 46 | +7.7% |
| 15E | May 21, 2020 | $610,950 | $556,200 p. 46 | +9.8% |
| 8E | May 22, 2020 | $712,775 | $679,800 p. 45 | +4.9% |
| 19B | May 28, 2020 | $875,695 | $829,150 p. 46 | +5.6% |
| 10E | Jul 13, 2020 | $748,414 | $700,400 p. 46 | +6.9% |
| 7D | Jul 14, 2020 | $661,863 | $566,500 p. 45 | +16.8% |
| 11A | Jul 14, 2020 | $840,000 | $906,400 p. 46 | −7.3% |
| 16B | Jul 14, 2020 | $802,330 | $798,250 p. 46 | +0.5% |
| 18B | Jul 15, 2020 | $875,695 | $818,850 p. 46 | +6.9% |
| 19E | Jul 16, 2020 | $692,410 | $597,400 p. 46 | +15.9% |
| 16E | Jul 17, 2020 | $566,351 | $566,500 p. 46 | −0% |
| 15C | Jul 21, 2020 | $766,935 | $659,200 p. 46 | +16.3% |
| 18C | Jul 21, 2020 | $775,000 | $690,100 p. 46 | +12.3% |
| 20E | Jul 21, 2020 | $702,593 | $607,700 p. 47 | +15.6% |
| 2B | Jul 24, 2020 | $997,885 | — | — |
| 7E | Jul 29, 2020 | $681,718 | $669,500 p. 45 | +1.8% |
| 8D | Aug 12, 2020 | $631,315 | $576,800 p. 45 | +9.5% |
| 12D | Aug 21, 2020 | $820,000 | $854,900 p. 46 | −4.1% |
| 12E | Sep 4, 2020 | $615,000 | $500,000 p. 46 | +23% |
| 15B | Sep 8, 2020 | $850,239 | $787,950 p. 46 | +7.9% |
| 4F | Sep 30, 2020 | $660,000 | $638,600 p. 45 | +3.4% |
| 17C | Sep 30, 2020 | $753,505 | $679,800 p. 46 | +10.8% |
| 10D | Oct 1, 2020 | $687,319 | $597,400 p. 46 | +15.1% |
| 14C | Oct 2, 2020 | $639,766 | $638,600 p. 46 | +0.2% |
| PHA | Oct 7, 2020 | $1,415,368 | — | — |
| 2F | Oct 8, 2020 | $650,000 | $618,000 p. 45 | +5.2% |
| 12A | Oct 9, 2020 | $1,185,000 | $1,245,000 p. 46 | −4.8% |
| 21E | Oct 20, 2020 | $710,000 | $618,000 p. 47 | +14.9% |
| 11B | Oct 21, 2020 | $1,050,000 | $1,148,450 p. 46 | −8.6% |
| 17D | Oct 21, 2020 | $890,969 | $906,400 p. 46 | −1.7% |
| 4H | Oct 26, 2020 | $750,000 | $808,550 p. 45 | −7.2% |
| 9D | Oct 28, 2020 | $672,045 | $587,100 p. 45 | +14.5% |
| 3H | Oct 30, 2020 | $829,874 | $798,250 p. 45 | +4% |
| 3J | Oct 30, 2020 | $835,000 | $901,250 p. 45 | −7.4% |
| 12C | Nov 9, 2020 | $712,775 | $600,000 p. 46 | +18.8% |
| 16C | Nov 10, 2020 | $782,072 | $669,500 p. 46 | +16.8% |
| 15A | Nov 17, 2020 | $1,200,000 | $1,323,550 p. 46 | −9.3% |
| 3G | Nov 23, 2020 | $750,000 | $772,500 p. 45 | −2.9% |
| 5H | Dec 4, 2020 | $778,961 | $818,850 p. 45 | −4.9% |
| 4G | Dec 11, 2020 | $750,000 | $782,800 p. 45 | −4.2% |
| 3K | Dec 14, 2020 | $692,410 | $721,000 p. 45 | −4% |
| 18D | Dec 30, 2020 | $890,000 | $916,700 p. 46 | −2.9% |
| 17A | Jan 27, 2021 | $1,175,000 | $1,344,150 p. 46 | −12.6% |
| 16A | Feb 26, 2021 | $1,225,000 | $1,333,850 p. 46 | −8.2% |
| 4K | Mar 4, 2021 | $626,224 | $731,300 p. 45 | −14.4% |
| 10B | Mar 10, 2021 | $927,000 | $1,138,150 p. 45 | −18.6% |
| 14E | Mar 10, 2021 | $625,000 | $545,900 p. 46 | +14.5% |
| 5K | Mar 15, 2021 | $631,315 | $741,600 p. 45 | −14.9% |
| 16D | Mar 16, 2021 | $860,000 | $896,100 p. 46 | −4% |
| 5J | Apr 30, 2021 | $845,000 | $870,350 p. 45 | −2.9% |
| 7A | Apr 30, 2021 | $916,425 | $978,500 p. 45 | −6.3% |
| 15D | Apr 30, 2021 | $810,000 | $885,800 p. 46 | −8.6% |
| 19C | May 3, 2021 | $750,000 | $700,400 p. 46 | +7.1% |
| 18A | May 4, 2021 | $1,270,000 | $1,354,450 p. 46 | −6.2% |
| 4J | May 6, 2021 | $815,000 | $860,050 p. 45 | −5.2% |
| 9B | May 6, 2021 | $905,000 | $1,127,850 p. 45 | −19.8% |
| 4D | May 10, 2021 | $815,000 | — | — |
| 20C | May 11, 2021 | $795,000 | $710,700 p. 47 | +11.9% |
| 2C | May 13, 2021 | $855,000 | — | — |
| 8B | May 19, 2021 | $916,425 | $1,085,000 p. 45 | −15.5% |
| 4C | Jun 3, 2021 | $875,000 | — | — |
| 14D | Jun 3, 2021 | $835,000 | $875,000 p. 46 | −4.6% |
| 5G | Jun 10, 2021 | $752,000 | $793,100 p. 45 | −5.2% |
| 8C | Jun 25, 2021 | $706,388 | $803,400 p. 45 | −12.1% |
| 21C | Jun 28, 2021 | $795,000 | $721,000 p. 47 | +10.3% |
| 2E | Jun 30, 2021 | $999,000 | $1,148,450 p. 45 | −13% |
| 9C | Jul 1, 2021 | $745,000 | $813,700 p. 45 | −8.4% |
| 21A | Jul 2, 2021 | $1,327,039 | $1,385,350 p. 47 | −4.2% |
| 22A | Jul 2, 2021 | $1,351,613 | $1,395,650 p. 47 | −3.2% |
| 19D | Jul 8, 2021 | $845,000 | $927,000 p. 46 | −8.8% |
| 20D | Jul 8, 2021 | $900,000 | $937,300 p. 47 | −4% |
| 11C | Jul 19, 2021 | $790,000 | $834,300 p. 46 | −5.3% |
| 4B | Jul 21, 2021 | $916,730 | — | — |
| 17B | Jul 22, 2021 | $780,000 | $808,550 p. 46 | −3.5% |
| 10C | Jul 30, 2021 | $726,570 | $824,000 p. 45 | −11.8% |
| 20A | Aug 23, 2021 | $1,323,725 | $1,375,050 p. 47 | −3.7% |
| 22D | Aug 23, 2021 | $957,155 | $957,900 p. 47 | −0.1% |
| 3F | Aug 25, 2021 | $625,000 | $628,300 p. 45 | −0.5% |
| 2A | Aug 27, 2021 | $998,000 | — | — |
| 18E | Aug 30, 2021 | $650,000 | $587,100 p. 46 | +10.7% |
| 19A | Aug 31, 2021 | $1,220,000 | $1,364,750 p. 46 | −10.6% |
| 21D | Sep 1, 2021 | $900,000 | $947,600 p. 47 | −5% |
| 5F | Sep 17, 2021 | $646,589 | $648,900 p. 45 | −0.4% |
| 20B | Sep 24, 2021 | $800,000 | $839,450 p. 47 | −4.7% |
| 7B | Oct 14, 2021 | $1,100,000 | $1,339,000 p. 45 | −17.8% |
| 2D | Dec 17, 2021 | $795,456 | — | — |
| 9A | Dec 17, 2021 | $870,000 | $885,800 p. 45 | −1.8% |
| 5E | Dec 20, 2021 | $999,000 | $1,179,350 p. 45 | −15.3% |
| 4A | Dec 22, 2021 | $999,000 | — | — |
| 4E | Dec 22, 2021 | $999,000 | $1,169,050 p. 45 | −14.5% |
| 3E | Jan 14, 2022 | $1,017,232 | $1,158,750 p. 45 | −12.2% |
| 10A | Jan 28, 2022 | $880,000 | $896,100 p. 45 | −1.8% |
| PHC | Sep 21, 2022 | $816,000 | — | — |
| 21B | Nov 28, 2022 | $810,000 | $849,750 p. 47 | −4.7% |
| 22C | Jan 18, 2023 | $730,000 | $731,300 p. 47 | −0.2% |
| PHB | Feb 6, 2023 | $775,000 | — | — |
| PHD | Feb 22, 2023 | $825,000 | — | — |
| 22B | Feb 24, 2023 | $750,000 | $860,050 p. 47 | −12.8% |
| 2G | Feb 27, 2023 | $570,000 | $654,050 p. 45 | −12.9% |
| 7C | Apr 7, 2023 | $750,000 | $978,500 p. 45 | −23.4% |
| 22E | Apr 11, 2023 | $575,000 | $628,300 p. 47 | −8.5% |
| PHE | Apr 19, 2023 | $610,950 | — | — |
| 11D | May 18, 2023 | $565,000 | $607,700 p. 46 | −7% |
Pro
Closings are for subscribers
Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.
Budget
What It Costs to Run
The sponsor projected a first-year budget (calendar 2020) of about $812,000. Residences pay about $803,000 of it. The Commercial Unit pays about $1,400, and storage license fees bring in about $7,700. Here's how that works out in monthly common charges, per Schedule A:
- About $400 to $730 a month for studios.
- About $530 to $1,040 for one-bedrooms.
- About $940 for the two-bedrooms.
- Storage licensees pay a projected $16 to $25 a month more, and bike spaces $12.
Projected taxes with 421-a run about $80 to $700 a month per home. Without it, Schedule A shows about $440 to $1,160. You pay your own electricity, including heat and air conditioning. Cooking gas and water are in common charges.
Notable lines:
- Contracted staff: about $411,000, more than half the budget.
- Common electricity: about $125,000.
- Water and sewer: about $69,000.
- Insurance: $55,000.
- Management fee: $54,500 to Choice NY Property Management, which also reviewed the budget.
- Elevator service: $19,800 for the Kone elevators.
Good to know: the reserve line is $5,000, based on a reserve study by Strategic Inspections. The plan notes that about 10% of expenses is typical. At closing you'll pay one month of common charges into working capital and another into the reserve fund. See NYC condo reserve funds and common charge benchmarks.
From our research: The Sponsor's Condo-Creation Fee in NYC · NYC Condo Insurance Costs Are Rising · Condo Supplies Cost per Unit, by Size
The Building
Finishes
Every home gets the same package, with "or equal" language that lets the sponsor substitute items of equal or better quality (compare with our NYC condo finishes guide).
Kitchen
- Appliances: a 30-inch Liebherr refrigerator, a 30-inch Blomberg gas range, a 30-inch Blomberg microwave and a Blomberg dishwasher.
- Wood cabinets, quartz counters, a North Point stainless sink and faucet.
- Only studio kitchens have a ducted kitchen exhaust.
See how these brands compare in our kitchen appliance brands guide and our look at gas vs. induction.
Baths
- Fixtures: Kohler Verticyl undermount sinks and Kohler Persuade Curv comfort-height toilets.
- Fittings: Phylrich Mix collection faucets, shower controls and accessories in polished chrome.
- Secondary baths get a 5-foot Kohler Archer tub. Tile floors and showers, quartz counters.
See how these names rank in our bathroom brands guide.
Floors, Ceilings and Windows
- French oak floors in a "Toast" color from Grato's Essentials line, over an acoustic underlayment. No carpet in the apartments.
- Ceilings of about 8 to 9 feet, and about 8 feet in foyers, kitchens and baths.
- Thermally broken aluminum windows by Northern Architectural Systems, double-glazed, with fixed panes and operable awning vents.
Laundry, Heating and Cooling
- A Bosch washer and ventless Bosch dryer in every home, plus a cellar laundry room with gas dryers.
- Islandaire PTAC units or LG split heat pumps heat and cool the apartments, on each owner's electric bill.
- Each home has its own 47-gallon Bradford White electric water heater.
More on these systems in our guides to heating and cooling and hot water heaters.
Amenities, Staffing & Transportation
The amenities are spread over the cellar, a mid-building amenity floor and the roof (see how this compares in our amenity formula study).
- Cellar: a resident lounge and dining area, the laundry room, storage cages and a card-access bike room.
- Ground floor: a lobby with a concierge desk and an entry courtyard with about 2,800 square feet of artificial grass.
- Fitness floor: a gym with two treadmills, two stationary bikes and free weights, a yoga studio and an outdoor terrace.
- Roof: a lounge and an outdoor terrace with a fire pit and an outdoor kitchen.
- No pool.
Good to know: the plan isn't consistent about which floor the gym is on. One section says the 5th floor, while the certificate of occupancy section puts amenities on the 6th floor and roof. The plan also counts 60 bike spaces in one place and offers 56 bike licenses. The sponsor has up to 24 months after the first closing to finish the common areas. See our guide to condo storage units.
Staffing and Services
The budget has no employees on payroll. Instead, a maintenance company supplies, for about $411,000 a year:
- A full-time superintendent ($82,338 in wages), on call 24/7.
- A full-time porter ($58,276).
- A concierge 16 hours a day, 7 days a week.
The plan says these wages meet 421-a prevailing wage rules. Outside concierge hours, a virtual doorman system with video intercom and card readers controls the door, and only the doorman can open the package room. See where condo common charges go.
Transportation
- Subway: 1 min walk to Queensboro Plaza 7 N W; Queens Plaza E F R, 4 min
Fine Print
What's Specific to It
- Old building, new tower: the lower five floors are an existing masonry building, kept and reinforced. A new 17-story addition sits on top, for 22 floors in all.
- Small homes: 37 studios, 68 one-bedrooms and 4 two-bedrooms, from about 423 to 1,080 square feet.
- A 421-a abatement at stake: the plan's tax figures assume 421-a. Without it, the plan says taxes would be "significantly higher," and buyers couldn't back out.
- No staff on the payroll: a maintenance company supplies a super, a porter and a concierge 16 hours a day. A virtual doorman system controls the door around the clock.
- A shop that pays almost nothing: the ground-floor Commercial Unit, owned by an unrelated company, can never pay more than 0.25% of common expenses. Its projected common charge is about $119 a month.
- Studies that aren't bedrooms: the 918-square-foot A-line homes on floors 12 to 22 have a study that the plan says can't legally be used as a bedroom.
24-16 Queens Plaza South stands on a corner lot at Queens Plaza South and Crescent Street, near the Queensboro Plaza station on the 7, N and W lines. Its offering plan tells you what's in the apartments, who runs the building and what it should cost to operate.
Fine Print Worth Knowing
- The 421-a deadline: the building had to get a certificate of occupancy by December 31, 2019 to qualify. If granted, the exemption runs 15 years (full for years 1 to 11, then phasing out). A per-unit cap means larger homes save proportionally less. Read our 421-a guide.
- Rent stabilization risk: if the plan isn't declared effective within 15 months of the final 421-a certificate, the sponsor must register units as rent-stabilized as they're occupied.
- The sponsor can rent instead of sell: it only needs 17 contracts (15%) to declare the plan effective, so owner-occupants may never control the board.
- Resale and leasing limits: you can't list your home for sale or rent until a year after closing. The board has a right of first refusal on sales and leases.
- Transfer taxes and fees: buyers pay the city and state transfer taxes and a $2,750 fee to the sponsor's lawyers. Delayed closings accrue interest at the legal maximum (16% a year at filing).
- No sponsor warranty: the sponsor doesn't warrant materials or workmanship. You have six months after closing to report defects in your unit.
- Other rules: no smoking in common areas (it's allowed in apartments), at most two pets, and disputes go to binding arbitration.
Team
- Sponsor: P8/Silverback 24-16 QPS Owner LLC. Its principal is Joshua Schuster, founder of Silverback Development, formerly of DHA Capital.
- Architect: Woods Bagot Architects
- Construction lender: BSPRT CRE Finance
- Managing agent and budget expert: Choice NY Property Management
- Selling agent: Nest Seekers International
- Sponsor's counsel: Marans Weisz & Newman
- Engineering estimates: Ettinger Engineering Associates
- Tax projection: Tuchman, Korngold, Weiss, Liebman & Lindemann
The plan doesn't name an interior designer.
- Sponsor
- P8/Silverback 24-16 Qps Owner, LLC
- Developers
- Silverback Development, DHA Capital
- Principals
- Joshua Schuster
- Counsel
- Marans, Weisz & Newman, LLC
- Tax estimate
- Tuchman, Korngold, Weiss, Liebman & Lindemann, LLPPrepared the first-year real estate tax projection
- Construction lender
- Bsprt Cre Finance
Nearby
- Crescent Condominiumnext door · 31 units · 2020
- Arcadia Licnext door · 36 units · 2017
- View 59 Condominiumnext door · 39 units · 2006
- 24-01 Queens Plaza North Condominiumnext door · 117 units · 2024
- Qps 23-10 Condominiumnext door · 391 units · 62 parking · 2016
- Flow House Condominiumnext door · 12 units · 2019
FAQ
Does 24-16 Queens Plaza South have a doorman?
Partly. A contracted concierge covers the desk 16 hours a day, 7 days a week, and a virtual doorman system with video intercom and card readers controls entry around the clock. A super is on call 24/7.
What happens to taxes if the 421-a abatement falls through?
Taxes would be based on full assessed value, and the plan says they'd be significantly higher. Schedule A's first-year figures, about $440 to $1,160 a month per home without 421-a versus about $80 to $700 with it, show the gap. Buyers don't get a right to cancel if the benefit isn't granted.
Is there parking or a pool?
No. The plan includes no parking and no pool. It offers cellar storage cages and bike spaces as licenses, a gym and yoga studio, a cellar lounge, and a roof terrace with a fire pit and outdoor kitchen.
Where this comes from: the building's offering plan (CD190042) as filed with the New York Attorney General, including its Special Risks, Description of Property and Specifications, Schedule A, Schedule B, Real Estate Taxes and Identity of Parties. Prices are the sponsor's offering prices, not sales, and budget figures are the sponsor's first-year projections. Later amendments may change them. Updated October 2026.