Monarch
47-05 5th Street, Queens, NY 11101
Overview
- Units
- 21 residential · 8 parking
- Subway
- 6 min walk to Vernon Blvd-Jackson Av 721 St G, 7 min
- Principals
- Shahram Nassi
- Average $/sf
- $1,081Homes in Schedule A, as first offered
- Offering price
- $26 million total $22.1 million when first offered
- Floor plans
- Page 188 of the plan
The sponsor of record is 47-05 5th Street LLC, represented by Moritt Hock & Hamroff, LLP. The offering plan runs 303 pages. The sponsor has filed 14 amendments, the latest in June 2026. The nearest other condo plan on file is 5-12 Condominium, next door.
Plan CD160049 · New · accepted Jul 5, 2016 · AG record ↗
Compare
| Figure | This building1 | Corner At Eleven222 units · 0.2 miaccepted 2015 | Lincoln316 units · 2 miaccepted 2017 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $0.78 ⚠Highest | $0.54 | $0.62 |
| Average Offering PricePer Apartment | $1.03MAbove peers | $923,182 | $676,375 |
| Average PricePer Square Foot | $1,081In line | $1,003 | $1,143 |
| Average Unit SizeSquare Feet | 954 SFLarger | 920 SF | 592 SF |
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Unit mix, closings, budgets, finishes and the team, against Corner At Eleven and Lincoln, cited to the offering plans. No credit card required.
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- 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.
⚠ Read from a partly legible Schedule B.
Units & Prices
Closings Pro
| Homes closed90% of the homes in Schedule A | 19 of 21 |
| Closing prices vs. Schedule A18 homes: $18,878,620 at closing against $16,170,000 in Schedule A (p. 19) | +16.8% |
| Average closing price18 homes, on their Schedule A square feet | $1,256 / SF |
| Closingsfirst and latest recorded | Mar 22, 2017 – Dec 6, 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 19 closings
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| 502 | Mar 22, 2017 | $926,608 | $755,000 p. 19 | +22.7% |
| 504 | Mar 22, 2017 | $1,013,159 | $890,000 p. 19 | +13.8% |
| 402 | Mar 27, 2017 | $896,060 | $750,000 p. 19 | +19.5% |
| 503 | Mar 27, 2017 | $934,754 | $770,000 p. 19 | +21.4% |
| 405 | Mar 29, 2017 | $1,140,440 | $1,105,000 p. 19 | +3.2% |
| 302 | Mar 31, 2017 | $804,418 | $745,000 p. 19 | +8% |
| 301 | Apr 11, 2017 | $860,421 | $750,000 p. 19 | +14.7% |
| 404 | Apr 24, 2017 | $977,645 | $885,000 p. 19 | +10.5% |
| 303 | Apr 25, 2017 | $895,167 | $760,000 p. 19 | +17.8% |
| 403 | Apr 25, 2017 | $819,816 | $765,000 p. 19 | +7.2% |
| 304 | Apr 26, 2017 | $977,645 | $880,000 p. 19 | +11.1% |
| 501 | May 3, 2017 | $835,090 | $760,000 p. 19 | +9.9% |
| 401 | May 12, 2017 | $824,783 | $755,000 p. 19 | +9.2% |
| 505 | May 12, 2017 | $1,176,079 | $1,110,000 p. 19 | +6% |
| 204 | May 17, 2017 | $1,374,638 | $1,175,000 p. 19 | +17% |
| 305 | Jun 7, 2017 | $1,221,900 | $1,100,000 p. 19 | +11.1% |
| 601 | Jul 14, 2022 | $1,600,000 | $1,120,000 p. 19 | +42.9% |
| 101 | Nov 27, 2023 | $1,832,850 | — | — |
| 602 | Dec 6, 2024 | $1,600,000 | $1,095,000 p. 19 | +46.1% |
Pro
Closings are for subscribers
Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.
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
- 47-05 5th Street LLC
- Principals
- Shahram Nassi
- Counsel
- Moritt Hock & Hamroff, LLP
- Tax estimate
- Astro Realty Brokerage LLCPrepared the first-year real estate tax projection
- Construction lender
- Alpine Capital Bank$7.2 million recorded
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- 5-12 Condominiumnext door · 5 units · 2023
- 5-13 Condominiumnext door · 5 units · 2023
- 5-17 Condominiumnext door · 4 units · 2023
- 5-15 Condominiumnext door · 4 units · 2023
- Vernon I Condominiumnext door · 6 units · 2018
- 5-01 Condominiumnext door · 8 units · 2023