THE CONDO BOOK PROJECT

Golden Tower Condominium

43-27 Byrd Street, Queens, NY 11355

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Overview

Units
16 residential · 8 parking · 1 commercial
Subway
12 min walk to Flushing-Main St 7
Principals
Tai Song Lin
Common charges
$311–$692 a monthSponsor's first-year estimate in Schedule A, July 1, 2024- June 30, 2025
Offering price
$10.6 million total $11.9 million when first offered

The sponsor of record is 99 Colden, L.L.C., represented by Lawrence Lixin Yang, P.C.. The offering plan runs 314 pages. The sponsor has filed 4 amendments, the latest in June 2024. The nearest other condo plan on file is Infinity 8 On Cherry Condominium, next door.

Plan CD220240 · New · accepted May 25, 2023 · AG record ↗

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FigureThis building1Hong Ye222 units · 1 miaccepted 2023Murray Hill321 units · 1 miaccepted 2023
Average Offering PricePer Apartment$661,412Below peers$714,087$683,952

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Unit mix, closings, budgets, finishes and the team, against Hong Ye and Murray Hill, 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 Schedule A17 of 17
Closing prices vs. Schedule A17 homes: $10,647,244 at closing against $11,244,000 in Schedule A (p. 44)−5.3%
Closingsfirst and latest recordedFeb 16, 2024 – Aug 27, 2024

Sales recorded with the Department of Finance (ACRIS) through Mar 31, 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 17 closings
HomeRecordedClosing priceSchedule ADifference
1AFeb 16, 2024$1,675,000$1,106,000 p. 44+51.4%
3AFeb 16, 2024$486,720$511,000 p. 44−4.8%
3BFeb 16, 2024$476,580$518,000 p. 44−8%
2AFeb 28, 2024$425,525$498,000 p. 44−14.6%
4CMar 26, 2024$467,454$534,000 p. 44−12.5%
5BApr 8, 2024$694,956$833,000 p. 44−16.6%
5CApr 15, 2024$711,757$863,000 p. 44−17.5%
3CApr 25, 2024$496,860$529,000 p. 44−6.1%
3DApr 25, 2024$580,403$632,000 p. 44−8.2%
4DApr 25, 2024$470,496$637,000 p. 44−26.1%
4BMay 7, 2024$486,720$523,000 p. 44−6.9%
6AMay 13, 2024$717,866$841,000 p. 44−14.6%
4AMay 17, 2024$418,478$516,000 p. 44−18.9%
2BMay 20, 2024$610,950$632,000 p. 44−3.3%
6BMay 20, 2024$712,775$861,000 p. 44−17.2%
5AMay 23, 2024$501,930$531,000 p. 44−5.5%
2CAug 27, 2024$712,775$679,000 p. 44+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
99 Colden, L.L.C.
Principals
Tai Song Lin
Tax estimate
Lawrence Lixin Yang, P.C.Prepared the first-year real estate tax projection
Construction lender
Cathay BankLender on the mortgage and building loan agreement recorded March 2022 in ACRIS; $2.49 million recorded

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

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