THE CONDO BOOK PROJECT

Leavitt Tower Condominium

35-19 Leavit Street, Queens, NY 11355

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Overview

Units
44 residential · 23 parking · 4 commercial
Subway
7 min walk to 36 Av N WSteinway St M R, 7 min
Principals
Bi Yuan Chen, Yan Jin Li, Ai Jin Lu, Chun Hui Zhang, Guo Hua Zhuo, Mei Fang Chen, Mei Yun Chen, Xian Dong Shi, Yuehui Zhang
Offering price
$41.7 million total $28.9 million when first offered

The sponsor of record is New Da Tong Realty, LLC, represented by Thomas E. Berinato, Attorney At Law. The offering plan runs 282 pages. The sponsor has filed 2 amendments, the latest in May 2018. The nearest other condo plan on file is Marx, next door.

Plan CD170011 · New · accepted Dec 12, 2017 · AG record ↗

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FigureThis building127-05244 units · 0.7 miaccepted 2017Smyth341 units · 0.5 miaccepted 2017
Average Offering PricePer Apartment$656,940Below peers$701,455$842,317

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Unit mix, closings, budgets, finishes and the team, against 27-05 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.

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
New Da Tong Realty, LLC
Principals
Bi Yuan Chen, Yan Jin Li, Ai Jin Lu, Chun Hui Zhang, Guo Hua Zhuo, Mei Fang Chen, Mei Yun Chen, Xian Dong Shi, Yuehui Zhang
Tax estimate
Thomas E. BerinatoPrepared the first-year real estate tax projection

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

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