THE CONDO BOOK PROJECT

27-21 27th Street Condominium

27-21 27th Street, Queens, NY 11102

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Overview

Units
8 residential · 6 storage
Subway
5 min walk to 30 Av N WAstoria Blvd N W, 8 min
Principals
Janos Kanta, Ken Tolley
Average $/sf
$1,201Homes in Schedule A, as first offered
Offering price
$7.66 million total

The sponsor of record is Kst2 Properties LLC, represented by Thomas E. Berinato, Attorney At Law. The offering plan runs 268 pages. The nearest other condo plan on file is Astoria Pointe, next door.

Plan CD190074 · New · accepted Dec 31, 2019 · AG record ↗

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FigureThis building1Gbt 31 Drive29 units · 0.6 miaccepted 2019Flow House312 units · 1.7 miaccepted 2019
Common ChargesPer Square Foot / Month$0.67Below peers$0.71$0.80
Average Offering PricePer Apartment$946,406Above peers$830,049$830,750
Average PricePer Square Foot$1,201In line$1,111$1,264
Average Unit SizeSquare Feet788 SFLarger747 SF657 SF

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Unit mix, closings, budgets, finishes and the team, against Gbt 31 Drive and Flow 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.

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
Kst2 Properties LLC
Principals
Janos Kanta, Ken Tolley
Tax estimate
Thomas E. BerinatoPrepared the first-year real estate tax projection
Construction lender
Cathay Bank

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

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