THE CONDO BOOK PROJECT

Crescent Condominium

42-22 Crescent Street, Queens, NY 11101

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Overview

Units
31 residential · 1 commercial
Subway
2 min walk to Queensboro Plaza 7 N WQueens Plaza E F R, 5 min
Principals
Jian Ting Zheng, Ren Ji Zheng
Average $/sf
$1,290Homes in Schedule A, as first offered
Common charges
$326–$453 a monthSponsor's first-year estimate in Schedule A, October 1, 2020 to September 30, 2021
Offering price
$27.3 million total

The sponsor of record is 22 Crescent Realty, LLC, represented by Thomas E. Berinato Attorney At Law. The offering plan runs 302 pages. The sponsor has filed 2 amendments, the latest in February 2022. The nearest other condo plan on file is 24-16 Queens Plaza South Condominium, next door.

Plan CD190271 · New · accepted Aug 12, 2020 · AG record ↗

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FigureThis building1Lic Manor232 units · 0.2 miaccepted 2020Core 23329 units · 0.2 miaccepted 2021
Common ChargesPer Square Foot / Month$0.63In line$0.56$0.70
Average Offering PricePer Apartment$712,232Below peers$823,641$734,828
Average PricePer Square Foot$1,290Above peers$1,201$1,136
Property TaxesPer Square Foot / Month$0.83Highest$0.57$0.65
Average Unit SizeSquare Feet552 SFSmaller686 SF647 SF

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Unit mix, closings, budgets, finishes and the team, against Lic Manor and Core 23, 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 closed16% of the homes in Schedule A5 of 31
Closing prices vs. Schedule A5 homes: $3,126,852 at closing against $3,669,900 in Schedule A (p. 27)−14.8%
Average closing price5 homes, on their Schedule A square feet$1,095 / SF
Closingsfirst and latest recordedSep 27, 2021 – Oct 31, 2025

Sales recorded with the Department of Finance (ACRIS) through Nov 30, 2025: 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
7CSep 27, 2021$480,000$672,100 p. 27−28.6%
3COct 25, 2021$474,552$672,100 p. 27−29.4%
9AMar 21, 2022$807,300$929,500 p. 27−13.1%
6AAug 7, 2023$680,000$724,100 p. 27−6.1%
8COct 31, 2025$685,000$672,100 p. 27+1.9%

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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
22 Crescent Realty, LLC
Principals
Jian Ting Zheng, Ren Ji Zheng
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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