THE CONDO BOOK PROJECT

Hampton Street Condominium

41-25 Hampton Street, Queens, NY 11373

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Overview

Units
6 residential
Subway
6 min walk to 90 St-Elmhurst Av 7Elmhurst Av M R, 6 min
Principals
Xing Hua Lin, FOR JIAO LIN
Average $/sf
$557Homes in Schedule A, as first offered
Common charges
$187–$212 a monthSponsor's first-year estimate in Schedule A, April 1, 2015 to March 31, 2015
Offering price
$1.97 million total

The sponsor of record is Earth And Planet Realty LLC, represented by S. Seth Yavne, Attorney At Law. The offering plan runs 261 pages. The sponsor has filed 2 amendments, the latest in March 2016. The nearest other condo plan on file is Hampton Condominium, next door.

Plan CD140318 · Rehab · accepted Mar 20, 2015 · AG record ↗

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FigureThis building186-50 Dongan227 units · 0.3 miaccepted 201667-19 Roosevelt39 units · 0.9 miaccepted 2017
Common ChargesPer Square Foot / Month$0.35In line$0.41$0.30
Average Offering PricePer Apartment$328,333Lowest$487,019$431,111
Average PricePer Square Foot$557Below peers$620$787
Average Unit SizeSquare Feet589 SFIn line786 SF548 SF

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Unit mix, closings, budgets, finishes and the team, against 86-50 Dongan and 67-19 Roosevelt, 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 closed83% of the homes in Schedule A5 of 6
Closing prices vs. Schedule A5 homes: $1,647,760 at closing against $1,670,000 in Schedule A (p. 34)−1.3%
Average closing price5 homes, on their Schedule A square feet$534 / SF
Closingsfirst and latest recordedJan 21, 2016 – Aug 4, 2016

Sales recorded with the Department of Finance (ACRIS) through Jul 31, 2024: 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 5 closings
HomeRecordedClosing priceSchedule ADifference
3AJan 21, 2016$344,760$340,000 p. 34+1.4%
2AJan 28, 2016$330,000$330,000 p. 340%
1BFeb 4, 2016$328,000$330,000 p. 34−0.6%
2BAug 4, 2016$310,000$330,000 p. 34−6.1%
3BAug 4, 2016$335,000$340,000 p. 34−1.5%

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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
Earth And Planet Realty LLC
Principals
Xing Hua Lin, FOR JIAO LIN
Tax estimate
Dale Roberta Weber, EsquirePrepared the first-year real estate tax projection

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

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