THE CONDO BOOK PROJECT

Epic Tower Condominium

41-62 Bowne Street, Queens, NY 11355

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Overview

Units
95 residential · 128 parking · 12 commercial
Subway
10 min walk to Flushing-Main St 7
Principals
Yin Chou Hu (a.k.a Thomas Hu), Chin Ming Wong (a.k.a Peter Wong), Fei Hua Weng
Average $/sf
$1,205Homes in Schedule A, as first offered
Offering price
$88.7 million total

The sponsor of record is Epic Tower LLC**, represented by Marans Newman Tsolis & Nazinitsky LLC. The offering plan runs 353 pages. The sponsor has filed 2 amendments, the latest in December 2022. The nearest other condo plan on file is Infinity 8 On Bowne Condominium, next door.

Plan CD200148 · New · accepted May 5, 2021 · AG record ↗

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FigureThis building1Flushing Garden2131 units · 0.2 miaccepted 2021Grand 147th354 units · 0.3 miaccepted 2021
Common ChargesPer Square Foot / Month$0.52Below peers$0.58$0.54
Average Offering PricePer Apartment$682,954In line$656,794$759,167
Average PricePer Square Foot$1,205In line$1,056$1,235
Average Unit SizeSquare Feet567 SFSmaller622 SF615 SF

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Unit mix, closings, budgets, finishes and the team, against Flushing Garden and Grand 147th, cited to the offering plans. No credit card required, and it also connects to ChatGPT and Claude, with limited access.

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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.

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Closings Pro

Homes closed100% of the homes in Schedule A94 of 94
Closing prices vs. Schedule A94 homes: $60,705,357 at closing against $64,197,675 in Schedule A (p. 49, p. 50, p. 51)−5.4%
Average closing price94 homes, on their Schedule A square feet$1,139 / SF
Closingsfirst and latest recordedDec 30, 2021 – Dec 10, 2024

Sales recorded with the Department of Finance (ACRIS) through Sep 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 94 closings
HomeRecordedClosing priceSchedule ADifference
5CDec 30, 2021$519,308$517,500 p. 49+0.3%
7CJan 6, 2022$580,403$540,000 p. 49+7.5%
12CJan 6, 2022$549,855$585,000 p. 50−6%
7FJan 7, 2022$496,860$506,400 p. 49−1.9%
5DJan 10, 2022$574,293$592,250 p. 49−3%
9GJan 10, 2022$595,676$588,900 p. 50+1.2%
4EJan 11, 2022$529,490$487,200 p. 49+8.7%
8CJan 11, 2022$598,731$540,000 p. 49+10.9%
6GJan 13, 2022$519,308$532,275 p. 49−2.4%
6DJan 18, 2022$631,315$605,125 p. 49+4.3%
5GJan 19, 2022$575,311$543,600 p. 49+5.8%
11CJan 20, 2022$535,730$585,000 p. 50−8.4%
9HJan 27, 2022$794,235$823,675 p. 50−3.6%
14GJan 28, 2022$549,652$588,900 p. 51−6.7%
13GJan 31, 2022$600,768$588,900 p. 50+2%
14CJan 31, 2022$616,041$585,000 p. 50+5.3%
5FFeb 4, 2022$478,578$506,400 p. 49−5.5%
12GFeb 4, 2022$600,768$588,900 p. 50+2%
3AFeb 9, 2022$570,220$595,700 p. 49−4.3%
11BFeb 9, 2022$554,946$699,400 p. 50−20.7%
4CFeb 10, 2022$753,505$751,800 p. 49+0.2%
6EFeb 10, 2022$748,414$756,800 p. 49−1.1%
3FFeb 11, 2022$595,676$504,850 p. 49+18%
5EFeb 11, 2022$804,418$774,400 p. 49+3.9%
3GFeb 15, 2022$554,946$596,850 p. 49−7%
12DFeb 15, 2022$600,768$669,500 p. 50−10.3%
6BFeb 23, 2022$519,308$632,150 p. 49−17.9%
6FFeb 23, 2022$565,129$495,850 p. 49+14%
7HFeb 23, 2022$722,958$806,150 p. 49−10.3%
5BFeb 24, 2022$519,308$618,700 p. 49−16.1%
7GFeb 28, 2022$446,160$543,600 p. 49−17.9%
8DFeb 28, 2022$605,859$618,000 p. 49−2%
8GFeb 28, 2022$514,216$543,600 p. 49−5.4%
4DMar 1, 2022$753,505$747,600 p. 49+0.8%
9BMar 1, 2022$554,946$672,500 p. 50−17.5%
4FMar 2, 2022$519,308$548,750 p. 49−5.4%
7EMar 3, 2022$804,418$809,600 p. 49−0.6%
3CMar 4, 2022$850,239$751,800 p. 49+13.1%
10GMar 4, 2022$560,038$588,900 p. 50−4.9%
6CMar 8, 2022$527,454$528,750 p. 49−0.2%
8HMar 9, 2022$773,870$806,150 p. 50−4%
11AMar 9, 2022$814,600$883,750 p. 50−7.8%
8BMar 10, 2022$549,855$645,600 p. 49−14.8%
10CMar 11, 2022$565,129$562,500 p. 50+0.5%
12FMar 11, 2022$501,930$548,600 p. 50−8.5%
6HMar 16, 2022$753,505$806,150 p. 49−6.5%
10BMar 16, 2022$560,109$672,500 p. 50−16.7%
14FMar 17, 2022$501,930$548,600 p. 51−8.5%
13EMar 18, 2022$875,695$880,000 p. 50−0.5%
13FMar 22, 2022$517,271$548,600 p. 50−5.7%
14BMar 28, 2022$570,220$699,400 p. 50−18.5%
12BMar 29, 2022$580,403$699,400 p. 50−17%
13BMar 31, 2022$570,220$699,400 p. 50−18.5%
3DApr 7, 2022$765,556$748,650 p. 49+2.3%
7BApr 7, 2022$549,855$645,600 p. 49−14.8%
7DApr 7, 2022$572,879$618,000 p. 49−7.3%
9DApr 7, 2022$598,122$643,750 p. 50−7.1%
10DApr 7, 2022$602,758$643,750 p. 50−6.4%
13CApr 7, 2022$587,245$585,000 p. 50+0.4%
13DApr 12, 2022$610,950$669,500 p. 50−8.7%
11DApr 18, 2022$621,133$669,500 p. 50−7.2%
3EApr 19, 2022$471,510$427,350 p. 49+10.3%
14DApr 27, 2022$595,676$669,500 p. 50−11%
10HApr 29, 2022$661,863$823,675 p. 50−19.6%
8FMay 24, 2022$505,986$506,400 p. 49−0.1%
14AMay 26, 2022$865,513$883,750 p. 50−2.1%
14HMay 26, 2022$855,330$876,250 p. 51−2.4%
11FMay 27, 2022$524,399$548,600 p. 50−4.4%
12AMay 31, 2022$865,513$883,750 p. 50−2.1%
8EJun 9, 2022$894,024$809,600 p. 49+10.4%
7AJun 10, 2022$840,056$813,050 p. 49+3.3%
8AJun 10, 2022$840,056$813,050 p. 49+3.3%
13HJun 13, 2022$865,513$876,250 p. 50−1.2%
5AJul 5, 2022$758,596$777,700 p. 49−2.5%
11GJul 7, 2022$527,454$588,900 p. 50−10.4%
4BJul 13, 2022$773,870$788,550 p. 49−1.9%
4AJul 19, 2022$748,414$742,350 p. 49+0.8%
9EJul 19, 2022$850,239$880,000 p. 50−3.4%
11EAug 7, 2022$680,000$880,000 p. 50−22.7%
12EAug 7, 2022$680,000$880,000 p. 50−22.7%
13AAug 22, 2022$865,513$883,750 p. 50−2.1%
9CSep 7, 2022$554,946$562,500 p. 50−1.3%
6ANov 9, 2022$740,880$795,375 p. 49−6.9%
9AJan 3, 2023$731,104$830,725 p. 50−12%
10AJan 17, 2023$804,418$830,725 p. 50−3.2%
9FFeb 27, 2023$486,720$548,600 p. 50−11.3%
10FFeb 28, 2023$514,216$548,600 p. 50−6.3%
3BJul 18, 2023$702,593$810,000 p. 49−13.3%
14ENov 3, 2023$738,231$880,000 p. 51−16.1%
12HNov 16, 2023$794,235$876,250 p. 50−9.4%
11HJan 8, 2024$751,469$876,250 p. 50−14.2%
4GMar 13, 2024$763,688$815,350 p. 49−6.3%
10EDec 6, 2024$728,049$880,000 p. 50−17.3%
5HDec 10, 2024$690,000$806,150 p. 49−14.4%

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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
Epic Tower LLC**
Principals
Yin Chou Hu (a.k.a Thomas Hu), Chin Ming Wong (a.k.a Peter Wong), Fei Hua Weng
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Cathay Bank$23 million recorded

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

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