THE CONDO BOOK PROJECT

Arcadia 27

42-50 27th Street, Queens, NY 11101

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Overview

Units
32 residential · 7 parking · 27 storage
Subway
2 min walk to Queensboro Plaza 7 N WQueens Plaza E F R, 4 min
Developer
Ampiera Group
Principals
Alex Lau, Henry Zhao, Lorder Huang
Offering price
$33.1 million total $28.1 million when first offered

The sponsor of record is 4248 Amg, LLC, represented by Sichenzia Ross Ference LLP. The offering plan runs 285 pages. The sponsor has filed 8 amendments, the latest in October 2019. The nearest other condo plan on file is Moon 27 Lic Condominium, next door.

Plan CD170136 · New · accepted Mar 5, 2018 · AG record ↗

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FigureThis building1Arcadia Lic236 units · 0.1 miaccepted 2017Smyth341 units · 0.6 miaccepted 2017
Average Offering PricePer Apartment$879,547In line$945,894$842,317

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Unit mix, closings, budgets, finishes and the team, against Arcadia Lic 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.

Closings Pro

Homes closed100% of the homes in the plan32 of 32
Closingsfirst and latest recordedNov 8, 2018 – Sep 2, 2021

Sales recorded with the Department of Finance (ACRIS) through Apr 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 32 closings
HomeRecordedClosing priceSchedule ADifference
5BNov 8, 2018$913,084one deed, 2 homes——
4BNov 9, 2018$799,326——
9DNov 16, 2018$639,461——
3ANov 19, 2018$784,053——
2CNov 20, 2018$1,252,448one deed, 3 homes——
3DNov 26, 2018$570,220——
5DNov 26, 2018$595,676——
7DNov 26, 2018$582,439——
4DNov 28, 2018$556,983——
6DNov 29, 2018$595,676——
2ADec 13, 2018$778,961——
3BDec 17, 2018$804,418——
2BDec 21, 2018$778,961——
8DJan 28, 2019$616,041——
4AMar 6, 2019$875,695——
5AMar 19, 2019$885,878——
8AJun 21, 2019$799,021one deed, 2 homes——
6BSep 4, 2019$896,926one deed, 2 homes——
6ASep 17, 2019$824,783——
8BNov 19, 2019$829,874——
9CJan 21, 2020$1,325,000one deed, 3 homes——
3CJan 31, 2020$1,109,893——
1AFeb 4, 2020$631,315one deed, 3 homes——
9BJul 13, 2020$802,381one deed, 2 homes——
9ASep 30, 2020$829,000——
7BNov 19, 2020$763,688one deed, 2 homes——
7ADec 7, 2020$763,688one deed, 2 homes——
5CApr 23, 2021$997,885one deed, 2 homes——
4CMay 18, 2021$990,000——
6CJul 2, 2021$1,070,000one deed, 2 homes——
8CAug 27, 2021$1,130,000one deed, 2 homes——
7CSep 2, 2021$1,090,000one deed, 2 homes——

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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
4248 Amg, LLC
Developer
Ampiera GroupReported by web.archive.org
Principals
Alex Lau, Henry Zhao, Lorder Huang
Tax estimate
Moseson & Associates Corp.Prepared the first-year real estate tax projection
Construction lender
Popular Bank$11.5 million recorded

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

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