THE CONDO BOOK PROJECT

Vere Condominium

26-26 Jackson Avenue, Queens, NY 11101

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Overview

Units
43 residential · 1 commercial
Subway
3 min walk to Court Sq-23 St 7 E F G MQueens Plaza E F R, 4 min
Principals
Henry Zilberman, Rafael Mordukhaev
Average $/sf
$789Homes in Schedule A, as first offered
Common charges
$542–$1,585 a monthSponsor's first-year estimate in Schedule A, April 1, 2009 (first year of condominium operation)
Offering price
$25.3 million total

The sponsor of record is 26-26 Jackson Avenue, LLC, represented by Gerstein Strauss & Rinaldi LLP. The offering plan runs 405 pages. The sponsor has filed 8 amendments, the latest in July 2011. The nearest other condo plan on file is 44-15 Purves Street Condominium, next door.

Plan CD080238 · New · accepted Aug 12, 2008 · AG record ↗

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FigureThis building1Arista 35222 units · 2 miaccepted 2009Tri-Crown324 units · 4 miaccepted 2007
Common ChargesPer Square Foot / Month$1.13Highest$0.63$0.11
Average Offering PricePer Apartment$588,419Above peers$531,091$376,667
Average PricePer Square Foot$789In line$836$398
Average Unit SizeSquare Feet746 SFIn line635 SF946 SF

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Unit mix, closings, budgets, finishes and the team, against Arista 35 and Tri-Crown, 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 closed98% of the homes in Schedule A42 of 43
Closing prices vs. Schedule A35 homes: $16,408,046 at closing against $18,774,000 in Schedule A (p. 33, p. 34)−12.6%
Average closing price35 homes, on their Schedule A square feet$658 / SF
Closingsfirst and latest recordedNov 17, 2009 – Nov 17, 2021

Sales recorded with the Department of Finance (ACRIS) through Apr 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 42 closings
HomeRecordedClosing priceSchedule ADifference
503Nov 17, 2009$375,180$458,500 p. 33−18.2%
501Nov 18, 2009$332,310$342,000 p. 33−2.8%
305Nov 20, 2009$429,963$551,000 p. 33−22%
404Nov 24, 2009$392,317$441,500 p. 33−11.1%
304Nov 30, 2009$370,110$429,000 p. 33−13.7%
601Dec 1, 2009$344,760$357,000 p. 33−3.4%
401Dec 2, 2009$312,170$329,500 p. 33−5.3%
604Dec 2, 2009$413,813$466,500 p. 33−11.3%
301Dec 8, 2009$304,200$343,500 p. 33−11.4%
403Dec 9, 2009$415,000$446,000 p. 33−7%
605Dec 14, 2009$481,650$598,500 p. 33−19.5%
602Dec 22, 2009$575,311$785,500 p. 33−26.8%
701Dec 23, 2009$324,480$372,000 p. 33−12.8%
1103Jan 11, 2010$600,768——
702Feb 12, 2010$585,000$805,500 p. 33−27.4%
603Mar 25, 2010$400,530$471,000 p. 33−15%
704Mar 25, 2010$405,600$479,000 p. 33−15.3%
801Apr 6, 2010$332,592$385,500 p. 34−13.7%
903Apr 8, 2010$439,000$509,000 p. 34−13.8%
505Apr 13, 2010$456,300$583,000 p. 33−21.7%
703May 3, 2010$430,950$483,500 p. 33−10.9%
901May 17, 2010$376,753$399,000 p. 34−5.6%
902May 24, 2010$700,570$845,500 p. 34−17.1%
302Jun 15, 2010$560,038$722,500 p. 33−22.5%
502Jun 24, 2010$580,000$765,500 p. 33−24.2%
303Jun 29, 2010$380,250$433,000 p. 33−12.2%
405Jun 30, 2010$482,664$567,000 p. 33−14.9%
803Jun 30, 2010$455,286$496,000 p. 34−8.2%
1002Jul 29, 2010$875,000——
402Sep 20, 2010$687,319$743,500 p. 33−7.6%
705Nov 17, 2010$499,000$615,000 p. 33−18.9%
1101Jan 4, 2011$680,000——
1201Jan 19, 2011$755,000——
904May 23, 2011$453,150$504,000 p. 34−10.1%
1203May 23, 2011$621,133——
805Oct 5, 2011$539,673$630,000 p. 34−14.3%
504Oct 20, 2011$375,000$454,000 p. 33−17.4%
804Dec 9, 2011$447,108$491,000 p. 34−8.9%
1001Dec 16, 2011$962,246——
905Jan 27, 2012$550,000$645,500 p. 34−14.8%
1202May 15, 2012$530,000——
802Nov 17, 2021$1,200,000$825,500 p. 34+45.4%

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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
26-26 Jackson Avenue, LLC
Principals
Henry Zilberman, Rafael Mordukhaev
Tax estimate
Moseson & AssociatesPrepared the first-year real estate tax projection
Construction lender
Popular Bank$12.5 million recorded

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

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