THE CONDO BOOK PROJECT

25-74 34th Street Condominium

25-74 34th Street, Queens, NY 11103

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Overview

Units
17 residential · 9 parking
Subway
5 min walk to Astoria Blvd N W30 Av N W, 6 min
Principals
Alan Bjegovic, Eric Belanich
Average $/sf
$1,453Homes in Schedule A, as first offered
Common charges
$109–$670 a monthSponsor's first-year estimate in Schedule A, Beginning September 1, 2021
Offering price
$15.9 million total

The sponsor of record is 34th Street Astoria LLC, represented by Certilman Balin Adler & Hyman, LLP. The offering plan runs 392 pages. The sponsor has filed 2 amendments, the latest in January 2022. The nearest other condo plan on file is Cornerstone Condominiums, 0.1 mi away.

Plan CD200287 · New · accepted May 4, 2021 · AG record ↗

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FigureThis building1Alta210 units · 0.5 miaccepted 2020Novo I Lic A/K/A Moderna I332 units · 1.2 miaccepted 2021
Common ChargesPer Square Foot / Month$0.68Below peers$0.75$0.73
Average Offering PricePer Apartment$909,412Above peers$831,171$736,302
Average PricePer Square Foot$1,453Above peers$1,359$1,208
Property TaxesPer Square Foot / Month$0.48In line$0.69$0.16
Average Unit SizeSquare Feet626 SFLarger612 SF610 SF

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Unit mix, closings, budgets, finishes and the team, against Alta and Novo I Lic A/K/A Moderna I, 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 A17 of 17
Closing prices vs. Schedule A17 homes: $12,014,659 at closing against $15,460,000 in Schedule A (p. 41)−22.3%
Average closing price17 homes, on their Schedule A square feet$1,129 / SF
Closingsfirst and latest recordedDec 29, 2021 – Nov 9, 2022

Sales recorded with the Department of Finance (ACRIS) through Aug 31, 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 17 closings
HomeRecordedClosing priceSchedule ADifference
4ADec 29, 2021$682,228$825,000 p. 41−17.3%
4BDec 29, 2021$690,000$825,000 p. 41−16.4%
1BDec 30, 2021$575,000$750,000 p. 41−23.3%
1CJan 5, 2022$470,000$625,000 p. 41−24.8%
2CJan 6, 2022$741,275$1,000,000 p. 41−25.9%
5BJan 13, 2022$887,500$1,200,000 p. 41−26%
5AJan 19, 2022$915,407$1,200,000 p. 41−23.7%
2BJan 20, 2022$676,114$800,000 p. 41−15.5%
3BJan 21, 2022$650,000$815,000 p. 41−20.2%
3DFeb 8, 2022$735,000$1,015,000 p. 41−27.6%
3AApr 18, 2022$677,136$815,000 p. 41−16.9%
3CApr 20, 2022$755,000$1,015,000 p. 41−25.6%
4CMay 12, 2022$827,000$1,030,000 p. 41−19.7%
2AMay 24, 2022$650,000$800,000 p. 41−18.7%
1AJun 16, 2022$600,000$715,000 p. 41−16.1%
4DJul 18, 2022$765,000$1,030,000 p. 41−25.7%
2DNov 9, 2022$718,000$1,000,000 p. 41−28.2%

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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
34th Street Astoria LLC
Principals
Alan Bjegovic, Eric Belanich
Tax estimate
SJP Tax Consultants, Inc.Prepared the first-year real estate tax projection

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

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