THE CONDO BOOK PROJECT

Harmony Condominium

32-56 (A.K.A. 32-60) 106th Street, Queens, NY 11369

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Overview

Units
21 residential · 1 commercial
Subway
13 min walk to 103 St-Corona Plaza 7111 St 7, 14 min
Developers
Asian Americans for Equality, Inc., Community Homes Housing Development Fund Company (HDFC)
Principals
Hsueh Lam Yan, Jennifer Sun, Lydia Tom, Thomas Yu
Average $/sf
$635Homes in Schedule A, as first offered
Offering price
$12.4 million total $12.1 million when first offered

The sponsor of record is Flushing 106 LLC, represented by Mandelbaum Salsburg, P.C.. The offering plan runs 437 pages. The sponsor has filed 2 amendments, the latest in August 2021. The nearest other condo plan on file is 106 Point Condominium, next door.

Plan CD180155 · New · accepted Aug 6, 2020 · AG record ↗

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FigureThis building1103220 units · 0.2 miaccepted 2021Polaris334 units · 0.1 miaccepted 2021
Common ChargesPer Square Foot / Month$1.11Highest$0.46$0.37
Average Offering PricePer Apartment$454,271Lowest$585,150$590,529
Average PricePer Square Foot$635Below peers$663$813
Average Unit SizeSquare Feet715 SFSmaller883 SF726 SF

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Unit mix, closings, budgets, finishes and the team, against 103 and Polaris, 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 A21 of 21
Closing prices vs. Schedule A21 homes: $9,689,190 at closing against $9,539,700 in Schedule A (p. 37)+1.6%
Average closing price21 homes, on their Schedule A square feet$645 / SF
Closingsfirst and latest recordedJul 6, 2021 – Jun 30, 2023

Sales recorded with the Department of Finance (ACRIS) through Jul 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 21 closings
HomeRecordedClosing priceSchedule ADifference
3CJul 6, 2021$359,616$354,650 p. 37+1.4%
4AJul 15, 2021$389,275$383,900 p. 37+1.4%
2AJul 21, 2021$390,796$385,400 p. 37+1.4%
4CJul 21, 2021$359,617$354,650 p. 37+1.4%
5AJul 28, 2021$389,275$383,900 p. 37+1.4%
5EJul 28, 2021$372,392$367,250 p. 37+1.4%
4BAug 10, 2021$510,210$510,200 p. 37+0%
5BAug 10, 2021$519,511$510,200 p. 37+1.8%
4EAug 20, 2021$372,393$367,250 p. 37+1.4%
5CSep 22, 2021$359,615$354,650 p. 37+1.4%
6GOct 1, 2021$641,550$630,050 p. 37+1.8%
2COct 14, 2021$351,250$346,400 p. 37+1.4%
3EDec 2, 2021$372,393$367,250 p. 37+1.4%
3DJun 24, 2022$547,920$538,100 p. 37+1.8%
5DJul 22, 2022$547,922$538,100 p. 37+1.8%
4DAug 16, 2022$547,922$538,100 p. 37+1.8%
3BAug 24, 2022$519,511$510,200 p. 37+1.8%
2BSep 7, 2022$505,350$496,400 p. 37+1.8%
2DSep 12, 2022$582,148$569,750 p. 37+2.2%
3ADec 20, 2022$389,275$383,900 p. 37+1.4%
6FJun 30, 2023$661,252$649,400 p. 37+1.8%

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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
Flushing 106 LLC
Developers
Asian Americans for Equality, Inc., Community Homes Housing Development Fund Company (HDFC)
Principals
Hsueh Lam Yan, Jennifer Sun, Lydia Tom, Thomas Yu
Counsel
Mandelbaum Salsburg, P.C.
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Popular Bank$6.3 million recorded

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

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