THE CONDO BOOK PROJECT

Harrison

27-21 44th Drive, Queens, NY 11101

Overview

Units
120 residential · 28 parking · 46 storage · 1 commercial
Subway
3 min walk to Court Sq-23 St 7 E F G MQueens Plaza E F R, 6 min
Developer
Silvercup Properties LLC
Average $/sf
$1,137Homes in Schedule A, as first offered
Offering price
$135.8 million total $108.3 million when first offered

The sponsor of record is Purves Development LLC, represented by Sichenzia Ross Ference LLP. The offering plan runs 352 pages. The sponsor has filed 14 amendments, the latest in May 2018. The nearest other condo plan on file is Vantage At Purves Street Condominium, next door.

Plan CD150306 · New · accepted Jun 29, 2016 · AG record ↗

Compare

FigureThis building143rd286 units · 0.1 miaccepted 2015Factory House370 units · 0.2 miaccepted 2015
Common ChargesPer Square Foot / Month$0.80In line$1.45$0.45
Average Offering PricePer Apartment$947,125In line$827,151$1.22M
Average PricePer Square Foot$1,137Above peers$1,091$1,063
Average Unit SizeSquare Feet833 SFIn line758 SF1,150 SF

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Unit mix, closings, budgets, finishes and the team, against 43rd 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 A120 of 120
Closing prices vs. Schedule A114 homes: $120,760,846 at closing against $104,630,000 in Schedule A (p. 36, p. 37)+15.4%
Average closing price114 homes, on their Schedule A square feet$1,297 / SF
Closingsfirst and latest recordedJul 20, 2017 – Oct 26, 2018

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 120 closings
HomeRecordedClosing priceSchedule ADifference
405Jul 20, 2017$519,308$540,000 p. 36−3.8%
805Aug 4, 2017$610,950$490,000 p. 36+24.7%
403Aug 8, 2017$1,160,805$1,085,000 p. 36+7%
401Aug 10, 2017$741,286$670,000 p. 36+10.6%
705Aug 16, 2017$539,673$485,000 p. 36+11.3%
1001Aug 17, 2017$890,969$705,000 p. 36+26.4%
402Aug 18, 2017$1,120,075$935,000 p. 36+19.8%
603Aug 18, 2017$1,211,718$1,095,000 p. 36+10.7%
901Aug 21, 2017$871,640$695,000 p. 36+25.4%
902Aug 21, 2017$1,186,261$960,000 p. 36+23.6%
501Aug 22, 2017$763,688$675,000 p. 36+13.1%
602Aug 22, 2017$1,058,980$945,000 p. 36+12.1%
605Aug 22, 2017$514,216$480,000 p. 36+7.1%
703Aug 22, 2017$1,306,415$1,100,000 p. 36+18.8%
1201Aug 23, 2017$911,334$725,000 p. 36+25.7%
1105Aug 24, 2017$605,859$510,000 p. 36+18.8%
601Aug 25, 2017$813,582$680,000 p. 36+19.6%
702Aug 25, 2017$1,089,528$950,000 p. 36+14.7%
503Aug 29, 2017$1,170,988$1,090,000 p. 36+7.4%
706Aug 29, 2017$692,410$655,000 p. 36+5.7%
701Aug 30, 2017$824,783$685,000 p. 36+20.4%
1005Aug 30, 2017$595,676$500,000 p. 36+19.1%
1006Aug 30, 2017$809,509$675,000 p. 36+19.9%
1101Aug 30, 2017$901,151$715,000 p. 36+26%
606Sep 5, 2017$661,863$650,000 p. 36+1.8%
406Sep 6, 2017$651,680$640,000 p. 36+1.8%
506Sep 6, 2017$661,863$645,000 p. 36+2.6%
906Sep 6, 2017$795,253$665,000 p. 36+19.6%
1205Sep 6, 2017$621,133$520,000 p. 37+19.4%
903Sep 7, 2017$1,369,546$1,115,000 p. 36+22.8%
1203Sep 7, 2017$1,415,368$1,145,000 p. 36+23.6%
303Sep 8, 2017$646,589$635,000 p. 36+1.8%
1002Sep 8, 2017$1,282,995$970,000 p. 36+32.3%
1003Sep 8, 2017$1,384,820$1,125,000 p. 36+23.1%
1206Sep 12, 2017$819,691$695,000 p. 37+17.9%
802Sep 13, 2017$1,152,659$955,000 p. 36+20.7%
806Sep 15, 2017$733,140$660,000 p. 36+11.1%
1103Sep 15, 2017$1,420,459$1,135,000 p. 36+25.2%
505Sep 20, 2017$486,720$475,000 p. 36+2.5%
905Sep 21, 2017$570,000$495,000 p. 36+15.2%
1402Sep 21, 2017$1,252,448$1,010,000 p. 37+24%
1202Sep 25, 2017$1,211,718$990,000 p. 36+22.4%
1406Sep 25, 2017$829,874$720,000 p. 37+15.3%
502Sep 26, 2017$1,018,250$940,000 p. 36+8.3%
1601Oct 10, 2017$1,267,722$1,220,000 p. 37+3.9%
201Oct 17, 2017$743,323$660,000 p. 36+12.6%
1801Oct 17, 2017$1,420,459$1,250,000 p. 37+13.6%
202Oct 19, 2017$1,165,896$920,000 p. 36+26.7%
404Oct 19, 2017$865,513$810,000 p. 36+6.9%
1004Oct 19, 2017$1,015,135$845,000 p. 36+20.1%
1106Oct 19, 2017$814,600$685,000 p. 36+18.9%
1804Oct 19, 2017$850,239$795,000 p. 37+6.9%
1904Oct 19, 2017$860,421$810,000 p. 37+6.2%
2101Oct 19, 2017$1,427,912$1,295,000 p. 37+10.3%
604Oct 23, 2017$850,239$820,000 p. 36+3.7%
1703Oct 23, 2017$850,239$780,000 p. 37+9%
1704Oct 23, 2017$840,056$780,000 p. 37+7.7%
302Oct 24, 2017$819,691$805,000 p. 36+1.8%
1702Oct 24, 2017$1,639,383$1,430,000 p. 37+14.6%
205Oct 26, 2017$1,390,000$1,340,000 p. 36+3.7%
704Oct 26, 2017$944,936$825,000 p. 36+14.5%
1604Oct 26, 2017$794,235$765,000 p. 37+3.8%
1803Oct 26, 2017$865,513$795,000 p. 37+8.9%
1901Oct 26, 2017$1,415,368$1,265,000 p. 37+11.9%
1104Oct 27, 2017$1,023,341$855,000 p. 36+19.7%
1701Oct 27, 2017$1,282,995$1,235,000 p. 37+3.9%
1802Oct 31, 2017$1,817,576$1,440,000 p. 37+26.2%
2203Oct 31, 2017$906,243$855,000 p. 37+6%
2301Oct 31, 2017$1,460,000$1,325,000 p. 37+10.2%
1602Nov 3, 2017$1,496,828$1,420,000 p. 37+5.4%
2201Nov 3, 2017$1,547,740$1,310,000 p. 37+18.1%
804Nov 6, 2017$952,064$830,000 p. 36+14.7%
2003Nov 9, 2017$885,878$825,000 p. 37+7.4%
2401Nov 10, 2017$1,565,000$1,340,000 p. 37+16.8%
504Nov 13, 2017$906,243$815,000 p. 36+11.2%
1405Nov 14, 2017$641,498$540,000 p. 37+18.8%
2501Nov 15, 2017$1,781,938——
203Nov 16, 2017$1,145,531$975,000 p. 36+17.5%
1403Nov 16, 2017$1,542,649$1,165,000 p. 37+32.4%
1603Nov 16, 2017$799,326$765,000 p. 37+4.5%
1903Nov 16, 2017$875,695$810,000 p. 37+8.1%
2103Nov 21, 2017$890,969$840,000 p. 37+6.1%
904Nov 28, 2017$989,739$835,000 p. 36+18.5%
2402Nov 29, 2017$1,939,766$1,525,000 p. 37+27.2%
1302Nov 30, 2017$1,232,083$1,000,000 p. 37+23.2%
1301Dec 1, 2017$921,516$735,000 p. 37+25.4%
1306Dec 1, 2017$824,783$705,000 p. 37+17%
2001Dec 1, 2017$1,425,550$1,280,000 p. 37+11.4%
2004Dec 4, 2017$865,513$825,000 p. 37+4.9%
2104Dec 7, 2017$875,695$840,000 p. 37+4.2%
1404Dec 18, 2017$1,038,615$885,000 p. 37+17.4%
1102Dec 27, 2017$1,262,630$980,000 p. 36+28.8%
301Dec 28, 2017$1,456,098$1,080,000 p. 36+34.8%
1303Jan 3, 2018$1,412,775$1,155,000 p. 37+22.3%
2404Jan 11, 2018$906,243$885,000 p. 37+2.4%
1204Jan 16, 2018$1,028,433$865,000 p. 36+18.9%
2202Jan 19, 2018$1,804,848$1,495,000 p. 37+20.7%
1305Jan 23, 2018$636,406$530,000 p. 37+20.1%
801Jan 24, 2018$870,604$690,000 p. 36+26.2%
2303Jan 26, 2018$893,000$870,000 p. 37+2.6%
2304Feb 1, 2018$916,425$870,000 p. 37+5.3%
1401Feb 7, 2018$962,246$745,000 p. 37+29.2%
1304Feb 13, 2018$1,033,524$875,000 p. 37+18.1%
1902Feb 14, 2018$1,792,120$1,450,000 p. 37+23.6%
2204Feb 14, 2018$890,969$855,000 p. 37+4.2%
1501Mar 8, 2018$1,680,000$1,355,000 p. 37+24%
2502Mar 8, 2018$2,112,869——
1504Mar 16, 2018$867,848$775,000 p. 37+12%
2403Mar 23, 2018$931,699$885,000 p. 37+5.3%
803Apr 5, 2018$1,354,273$1,105,000 p. 36+22.6%
2603Apr 13, 2018$1,000,000——
1503Apr 30, 2018$896,060$775,000 p. 37+15.6%
2002May 10, 2018$1,725,000$1,455,000 p. 37+18.6%
2503May 18, 2018$1,780,000——
2302May 25, 2018$1,815,000$1,510,000 p. 37+20.2%
2102May 30, 2018$1,734,000$1,460,000 p. 37+18.8%
2601Jun 11, 2018$1,760,000——
2602Jul 25, 2018$2,700,000——
1502Aug 13, 2018$1,976,347$1,515,000 p. 37+30.5%
204Oct 26, 2018$1,323,725$1,350,000 p. 36−1.9%

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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
Purves Development LLC
Developer
Silvercup Properties LLC
Tax estimate
Tuchman, Korngold, Weiss, Liebman & Gelles, LLPPrepared the first-year real estate tax projection
Construction lender
Wells Fargo Bank$50 million recorded

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

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