THE CONDO BOOK PROJECT

42-51 Hunter Street Condominium

42-51 Hunter Street, Queens, NY 11101

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Overview

Units
24 residential · 1 commercial
Subway
2 min walk to Queens Plaza E F RQueensboro Plaza 7 N W, 3 min
Principals
Isaac Jemal
Offering price
$29.8 million total

The sponsor of record is 42-51 Hunter Street, LLC, represented by Marans, Weisz & Newman, LLC. The offering plan runs 188 pages. The sponsor has filed 7 amendments, the latest in March 2014. The nearest other condo plan on file is Athena Lic Condominium, next door.

Plan CD060121 · New · accepted Oct 11, 2006 · AG record ↗

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FigureThis building1Ionian219 units · 1.2 miaccepted 2007View 59339 units · 0.2 miaccepted 2006
Average Offering PricePer Apartment$1.24MHighest$768,000$613,205

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Unit mix, closings, budgets, finishes and the team, against Ionian and View 59, 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
42-51 Hunter Street, LLC
Principals
Isaac Jemal
Tax estimate
Merker Advisory ServicesPrepared the first-year real estate tax projection

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

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