THE CONDO BOOK PROJECT

26-14 28th Street Condominium

26-14 28th Street, Queens, NY 11102

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Overview

Units
11 residential · 8 parking · 11 storage
Subway
4 min walk to Astoria Blvd N W30 Av N W, 6 min
Developer
Iniciativas Eleta
Principals
Alejandra Fierro Eleta
Average $/sf
$941Homes in Schedule A, as first offered
Common charges
$463–$728 a monthSponsor's first-year estimate in Schedule A, July 1, 2017
Offering price
$11 million total $9.83 million when first offered

The sponsor of record is 28 Street Development LLC, represented by Jeffrey Zwick & Associates, P.C.. The offering plan runs 303 pages. The sponsor has filed 5 amendments, the latest in September 2017. The nearest other condo plan on file is Vitoria 17 Condominium, next door.

Plan CD160065 · New · accepted Aug 24, 2016 · AG record ↗

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FigureThis building167-19 Roosevelt29 units · 2.1 miaccepted 2017Corner At Eleven322 units · 2.4 miaccepted 2015
Common ChargesPer Square Foot / Month$0.65Highest$0.30$0.54
Average Offering PricePer Apartment$828,182In line$431,111$923,182
Average PricePer Square Foot$941In line$787$1,003
Property TaxesPer Square Foot / Month$0.14Lowest$0.31$1.01
Average Unit SizeSquare Feet880 SFIn line548 SF920 SF

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Unit mix, closings, budgets, finishes and the team, against 67-19 Roosevelt and Corner At Eleven, 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 A11 of 11
Closing prices vs. Schedule A11 homes: $10,660,666 at closing against $9,110,000 in Schedule A (p. 26)+17%
Average closing price11 homes, on their Schedule A square feet$1,101 / SF
Closingsfirst and latest recordedJul 5, 2017 – Jul 25, 2017

Sales recorded with the Department of Finance (ACRIS) through Jan 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 11 closings
HomeRecordedClosing priceSchedule ADifference
2AJul 5, 2017$1,120,000$565,000 p. 26+98.2%
2BJul 10, 2017$619,096$805,000 p. 26−23.1%
4BJul 11, 2017$672,045$815,000 p. 26−17.5%
5BJul 11, 2017$936,790$1,195,000 p. 26−21.6%
3CJul 13, 2017$967,338$1,010,000 p. 26−4.2%
4AJul 13, 2017$1,230,000$575,000 p. 26+113.9%
2CJul 18, 2017$946,973$1,005,000 p. 26−5.8%
5AJul 19, 2017$1,355,000$745,000 p. 26+81.9%
4CJul 20, 2017$995,849$1,015,000 p. 26−1.9%
3BJul 24, 2017$646,589$810,000 p. 26−20.2%
3AJul 25, 2017$1,170,988$570,000 p. 26+105.4%

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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
28 Street Development LLC
Developer
Iniciativas Eleta
Principals
Alejandra Fierro Eleta
Tax estimate
Ben Rottenstein Associates, Inc.Prepared the first-year real estate tax projection

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

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