THE CONDO BOOK PROJECT

Slate Condominium

28-18 Astoria Blvd., Queens, NY 11102

Overview

Units
28 residential · 14 parking · 2 commercial
Subway
3 min walk to Astoria Blvd N W30 Av N W, 7 min
Principals
Charalabos P. Bakalis
Offering price
$26.9 million total $22.5 million when first offered

The sponsor of record is 28-20 Astoria Blvd. LLC, represented by Tsoromokos & Papadopoulos, Pllc. The offering plan runs 385 pages. The sponsor has filed 3 amendments, the latest in June 2018. The nearest other condo plan on file is Vitoria 17 Condominium, next door.

Plan CD160259 · New · accepted May 9, 2017 · AG record ↗

Compare

FigureThis building1Cornerstone Condominiums227 units · 0.2 miaccepted 2018Smyth341 units · 1.2 miaccepted 2017
Average Offering PricePer Apartment$804,373Below peers$972,369$842,317

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Unit mix, closings, budgets, finishes and the team, against Cornerstone Condominiums and Smyth, 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 the plan28 of 28
Closingsfirst and latest recordedDec 13, 2018 – Nov 4, 2020

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 29 closings
HomeRecordedClosing priceSchedule ADifference
304Dec 13, 2018$604,950——
503Dec 13, 2018$696,303——
102Dec 19, 2018$610,950——
203Dec 20, 2018$681,055——
604Jan 23, 2019$640,794——
103Jan 24, 2019$712,775——
404Feb 1, 2019$621,133——
104Feb 6, 2019$585,494——
202Feb 13, 2019$727,000——
204Feb 27, 2019$656,771——
101Mar 21, 2019$616,041——
302Mar 22, 2019$717,866——
703Apr 3, 2019$631,000——
704Apr 9, 2019$631,000——
201Apr 15, 2019$726,737——
504Apr 24, 2019$610,950——
303Jun 6, 2019$655,753——
403Sep 10, 2019$604,466——
401Sep 26, 2019$636,406——
301Oct 24, 2019$605,475——
501Oct 31, 2019$656,771——
603Dec 12, 2019$609,932——
601Jan 10, 2020$668,079——
701Feb 12, 2020$595,676——
402Mar 30, 2020$674,082——
702Apr 1, 2020$650,000——
502May 19, 2020$717,866——
602May 22, 2020$696,483——
100Nov 4, 2020$1,570,000——

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Closings are for subscribers

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
28-20 Astoria Blvd. LLC
Principals
Charalabos P. Bakalis
Tax estimate
William Mavrelis, Esq.Prepared the first-year real estate tax projection
Construction lenders
Flushing Bank, Sd43 1$7.2 million loan stated in the plan

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

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