THE CONDO BOOK PROJECT

43rd Avenue Condominium

25-19 43rd Avenue, Queens, NY 11101

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Overview

Units
86 residential · 17 parking
Subway
4 min walk to Queensboro Plaza 7 N WCourt Sq-23 St 7 E F G M, 4 min
Average $/sf
$1,091Homes in Schedule A, as first offered
Offering price
$75.1 million total $67.3 million when first offered

The sponsor of record is 43rd Avenue Condo LLC, represented by Schwartz Sladkus Reich Greenberg Atlas LLP. The offering plan runs 420 pages. The sponsor has filed 14 amendments, the latest in July 2019. The nearest other condo plan on file is Icon Condominium, next door.

Plan CD150174 · New · accepted Nov 16, 2015 · AG record ↗

Compare

FigureThis building1Harrison2120 units · 0.1 miaccepted 2016Factory House370 units · 0 miaccepted 2015
Common ChargesPer Square Foot / Month$1.45Highest$0.80$0.45
Average Offering PricePer Apartment$827,151Below peers$947,125$1.22M
Average PricePer Square Foot$1,091In line$1,137$1,063
Average Unit SizeSquare Feet758 SFSmaller833 SF1,150 SF

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Unit mix, closings, budgets, finishes and the team, against Harrison and Factory House, 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 A86 of 86
Closing prices vs. Schedule A85 homes: $73,454,168 at closing against $70,385,000 in Schedule A (p. 98, p. 99, p. 100)+4.4%
Average closing price85 homes, on their Schedule A square feet$1,140 / SF
Closingsfirst and latest recordedJan 10, 2018 – Aug 20, 2020

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 86 closings
HomeRecordedClosing priceSchedule ADifference
402Jan 10, 2018$835,000$800,000 p. 98+4.4%
602Jan 12, 2018$870,604$820,000 p. 99+6.2%
308Jan 17, 2018$1,191,353$1,170,000 p. 98+1.8%
405Jan 19, 2018$792,019$760,000 p. 98+4.2%
509Jan 22, 2018$603,643$545,000 p. 99+10.8%
606Jan 22, 2018$794,360$780,000 p. 99+1.8%
403Jan 23, 2018$537,431$510,000 p. 98+5.4%
507Jan 24, 2018$753,505$740,000 p. 99+1.8%
204Jan 25, 2018$509,875$500,000 p. 98+2%
310Jan 25, 2018$741,106$710,000 p. 98+4.4%
203Jan 26, 2018$499,735$490,000 p. 98+2%
304Jan 29, 2018$522,183$510,000 p. 98+2.4%
306Jan 29, 2018$766,563$750,000 p. 98+2.2%
506Jan 30, 2018$848,023$770,000 p. 99+10.1%
601Jan 30, 2018$1,046,581$1,025,000 p. 99+2.1%
605Jan 30, 2018$853,114$780,000 p. 99+9.4%
208Jan 31, 2018$1,170,988$1,150,000 p. 98+1.8%
608Jan 31, 2018$1,255,323$1,230,000 p. 99+2.1%
205Feb 1, 2018$756,355$740,000 p. 98+2.2%
202Feb 2, 2018$797,110$780,000 p. 98+2.2%
401Feb 6, 2018$998,260$985,000 p. 98+1.3%
210Feb 7, 2018$730,924$700,000 p. 98+4.4%
501Feb 8, 2018$1,026,216$1,005,000 p. 98+2.1%
209Feb 9, 2018$527,274$515,000 p. 98+2.4%
305Feb 12, 2018$781,836$750,000 p. 98+4.2%
504Feb 13, 2018$603,518$530,000 p. 98+13.9%
408Feb 14, 2018$1,214,468$1,190,000 p. 98+2.1%
603Feb 14, 2018$588,244$530,000 p. 99+11%
302Feb 15, 2018$822,441$790,000 p. 98+4.1%
404Feb 15, 2018$557,696$520,000 p. 98+7.2%
409Feb 15, 2018$547,514$535,000 p. 98+2.3%
505Feb 15, 2018$842,806$770,000 p. 98+9.5%
309Feb 21, 2018$537,331$525,000 p. 98+2.3%
307Feb 26, 2018$751,164$720,000 p. 98+4.3%
510Feb 28, 2018$792,019$730,000 p. 99+8.5%
206Mar 5, 2018$817,475$740,000 p. 98+10.5%
207Mar 5, 2018$725,833$710,000 p. 98+2.2%
503Mar 5, 2018$547,639$520,000 p. 98+5.3%
809Mar 12, 2018$634,190$575,000 p. 99+10.3%
710Mar 13, 2018$812,384$750,000 p. 99+8.3%
802Mar 13, 2018$858,205$840,000 p. 99+2.2%
810Mar 13, 2018$822,566$760,000 p. 99+8.2%
803Mar 14, 2018$624,008$550,000 p. 99+13.5%
804Mar 14, 2018$634,190$560,000 p. 99+13.2%
805Mar 14, 2018$873,479$800,000 p. 99+9.2%
806Mar 14, 2018$878,570$800,000 p. 99+9.8%
702Mar 19, 2018$883,661$830,000 p. 99+6.5%
801Mar 20, 2018$1,065,000$1,065,000 p. 990%
301Mar 22, 2018$965,000$965,000 p. 980%
610Mar 26, 2018$802,201$740,000 p. 99+8.4%
807Mar 27, 2018$888,753$770,000 p. 99+15.4%
607Mar 30, 2018$781,836$750,000 p. 99+4.2%
707Apr 6, 2018$868,388$760,000 p. 99+14.3%
PH 4Apr 12, 2018$919,300$820,000 p. 100+12.1%
407Apr 19, 2018$802,201$730,000 p. 98+9.9%
705Apr 20, 2018$863,171$790,000 p. 99+9.3%
604Apr 24, 2018$624,008$540,000 p. 99+15.6%
PH 6Apr 27, 2018$1,336,783$1,310,000 p. 100+2%
704May 7, 2018$623,883$550,000 p. 99+13.4%
211May 11, 2018$1,092,278$1,100,000 p. 98−0.7%
706May 24, 2018$868,388$790,000 p. 99+9.9%
511May 29, 2018$1,100,000$1,110,000 p. 99−0.9%
703May 31, 2018$598,551$540,000 p. 99+10.8%
PH 1Jun 7, 2018$1,185,363$1,150,000 p. 99+3.1%
502Jun 20, 2018$883,661$810,000 p. 98+9.1%
PH 2Jun 26, 2018$1,900,000$1,995,000 p. 99−4.8%
PH 3Jul 18, 2018$1,479,213$1,450,000 p. 100+2%
PH 8Jul 26, 2018$842,931$780,000 p. 100+8.1%
410Jul 27, 2018$748,414$720,000 p. 98+3.9%
701Aug 14, 2018$1,075,000$1,045,000 p. 99+2.9%
406Oct 12, 2018$817,475$760,000 p. 98+7.6%
611Oct 31, 2018$1,130,000$1,130,000 p. 990%
303Nov 28, 2018$585,494$500,000 p. 98+17.1%
PH 5Nov 29, 2018$898,810$790,000 p. 100+13.8%
PH 7Dec 7, 2018$620,000$595,000 p. 100+4.2%
808Jan 22, 2019$1,295,929$1,270,000 p. 99+2%
411Feb 20, 2019$1,102,460$1,090,000 p. 98+1.1%
811Feb 28, 2019$1,087,186$1,170,000 p. 99−7.1%
508Mar 12, 2019$1,234,833$1,210,000 p. 99+2.1%
711Mar 26, 2019$1,173,738$1,150,000 p. 99+2.1%
PH 9Mar 29, 2019$1,234,833$1,210,000 p. 100+2.1%
609May 29, 2019$613,700$555,000 p. 99+10.6%
311Jun 5, 2019$995,849$1,070,000 p. 98−6.9%
708Aug 20, 2019$1,190,768$1,250,000 p. 99−4.7%
709Apr 22, 2020$580,000$565,000 p. 99+2.7%
101Aug 20, 2020$715,525——

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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
43rd Avenue Condo LLC
Tax estimate
Tuchman, Korngold Weiss, Liebman & Gelles, LLPPrepared the first-year real estate tax projection
Construction lender
BankunitedLender on the mortgage and building loan agreement recorded June 2015 in ACRIS; $25.8 million recorded

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

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