THE CONDO BOOK PROJECT

Riverstone Condominium F/K/A Arlington Suites

3220 Arlington Ave, Bronx, NY 10463

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Overview

Units
26 residential · 56 parking · 30 storage
Subway
17 min walk to 238 St 1231 St 1, 17 min
Principals
Howard Jonas, Shmuel Jonas
Offering price
$14.9 million total $46.2 million when first offered

The sponsor of record is Arlington Suites, LLC**, represented by Ganfer & Shore, LLP. The offering plan runs 386 pages. The sponsor has filed 13 amendments, the latest in October 2022. The nearest other condo plan on file is Arlington Heights Condominium, next door.

Plan CD060818 · New · accepted Feb 13, 2007 · AG record ↗

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FigureThis building1Sedgwick240 units · 1 miaccepted 2007724-728 East 221st324 units · 2.7 miaccepted 2006
Average Offering PricePer Apartment$1.78MHighest$270,375$208,333

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Unit mix, closings, budgets, finishes and the team, against Sedgwick and 724-728 East 221st, cited to the offering plans. No credit card required.

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How We Got This
  • Comps: the closest Bronx 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
Arlington Suites, LLC**
Principals
Howard Jonas, Shmuel Jonas
Tax estimate
Jerome MazurskyPrepared the first-year real estate tax projection
Construction lender
Independence Community Bank$15.8 million recorded

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

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