THE CONDO BOOK PROJECT

Arista 35 Condominium

25-19 35th Street, Queens, NY 11303

Overview

Units
22 residential · 14 parking · 1 commercial
Subway
4 min walk to Astoria Blvd N W30 Av N W, 9 min
Developer
Whiterock Holdings LLC
Principals
Michael Prete, Richard A. Bonelli, Ronald J. Bonelli, Thomas Devito
Average $/sf
$836Homes in Schedule A, as first offered
Common charges
$301–$484 a monthSponsor's first-year estimate in Schedule A, January 1, 2010 TO December 31, 2010
Offering price
$13 million total

The sponsor of record is Wp Ventures 35th St. LLC, represented by Starr Associates LLP. The offering plan runs 440 pages. The sponsor has filed 3 amendments, the latest in May 2010. The nearest other condo plan on file is Epanastasi Condominium, next door.

Plan CD080663 · New · accepted Jun 8, 2009 · AG record ↗

Compare

FigureThis building1Vere243 units · 2 miaccepted 2008Corona Twins317 units · 3.3 miaccepted 2009
Common ChargesPer Square Foot / Month$0.63In line$1.13$0.28
Average Offering PricePer Apartment$531,091In line$588,419$276,471
Average PricePer Square Foot$836Above peers$789$442
Property TaxesPer Square Foot / Month$0.03In line$0.03$0.05
Average Unit SizeSquare Feet635 SFIn line746 SF626 SF

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Unit mix, closings, budgets, finishes and the team, against Vere and Corona Twins, 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 A22 of 22
Closing prices vs. Schedule A22 homes: $9,824,928 at closing against $11,684,000 in Schedule A (p. 41)−15.9%
Average closing price22 homes, on their Schedule A square feet$703 / SF
Closingsfirst and latest recordedMar 22, 2010 – Dec 22, 2020

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 22 closings
HomeRecordedClosing priceSchedule ADifference
4BMar 22, 2010$409,000$499,000 p. 41−18%
1AMar 26, 2010$431,964$499,000 p. 41−13.4%
2AMar 26, 2010$349,830$399,000 p. 41−12.3%
2EMar 26, 2010$461,370$585,000 p. 41−21.1%
PH2Mar 26, 2010$609,932$719,000 p. 41−15.2%
4CMar 30, 2010$460,356$559,000 p. 41−17.6%
3AMar 31, 2010$339,690$419,000 p. 41−18.9%
1BApr 1, 2010$442,104$499,000 p. 41−11.4%
3BApr 2, 2010$406,325$499,000 p. 41−18.6%
2BApr 20, 2010$399,840$469,000 p. 41−14.7%
2FApr 28, 2010$427,975$529,000 p. 41−19.1%
3CApr 28, 2010$450,216$559,000 p. 41−19.5%
4FMay 13, 2010$385,320$479,000 p. 41−19.6%
2DMay 14, 2010$466,440$599,000 p. 41−22.1%
3FJun 2, 2010$385,320$479,000 p. 41−19.6%
2CJun 17, 2010$418,782$519,000 p. 41−19.3%
3DAug 23, 2010$432,978$569,000 p. 41−23.9%
4ESep 3, 2010$460,407$549,000 p. 41−16.1%
3ESep 24, 2010$440,076$549,000 p. 41−19.8%
4AMar 4, 2011$339,690$419,000 p. 41−18.9%
4DAug 5, 2011$457,314$569,000 p. 41−19.6%
PH1Dec 22, 2020$850,000$719,000 p. 41+18.2%

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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
Wp Ventures 35th St. LLC
Developer
Whiterock Holdings LLC
Principals
Michael Prete, Richard A. Bonelli, Ronald J. Bonelli, Thomas Devito
Tax estimate
Ben Rottenstein AssociatesPrepared the first-year real estate tax projection
Construction lender
Popular Bank$6.2 million recorded

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

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