Corner At Eleven Condominium
47-28 11th Street, Queens, NY 11101
Overview
- Units
- 22 residential · 1 commercial
- Subway
- 3 min walk to Vernon Blvd-Jackson Av 721 St G, 3 min
- Developers
- BK Developers, Kora Developers LLC
- Average $/sf
- $1,003Homes in Schedule A, as first offered
- Common charges
- $357–$742 a monthSponsor's first-year estimate in Schedule A, January 1, 2016 - December 31, 2016
- Offering price
- $24.9 million total $22 million when first offered
The sponsor of record is Empire Funding Partners LLC, represented by Tsyngauz & Associates, P.C.. The offering plan runs 261 pages. The sponsor has filed 7 amendments, the latest in March 2016. The nearest other condo plan on file is 10-42 Condominium, next door.
Plan CD140311 · New · accepted Mar 31, 2015 · AG record ↗
Compare
| Figure | This building1 | Smyth241 units · 1.2 miaccepted 2017 | 27-05344 units · 0.9 miaccepted 2017 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $0.54In line | $0.41 | $0.60 |
| Average Offering PricePer Apartment | $923,182Above peers | $842,317 | $701,455 |
| Average PricePer Square Foot | $1,003Below peers | $1,100 | $1,200 |
| Property TaxesPer Square Foot / Month | $1.01Highest | $0.82 | $0.05 |
| Average Unit SizeSquare Feet | 920 SFLargest | 766 SF | 585 SF |
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Unit mix, closings, budgets, finishes and the team, against Smyth and 27-05, 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.
Units & Prices
Closings Pro
| Homes closed100% of the homes in Schedule A | 22 of 22 |
| Closing prices vs. Schedule A20 homes: $19,496,433 at closing against $17,460,000 in Schedule A (p. 25, p. 26) | +11.7% |
| Average closing price20 homes, on their Schedule A square feet | $1,113 / SF |
| Closingsfirst and latest recorded | Feb 12, 2016 – Dec 10, 2019 |
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 23 closings
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| PHA | Feb 12, 2016 | $1,733,562 | — | — |
| 5A | Feb 29, 2016 | $778,961 | $705,000 p. 25 | +10.5% |
| 6A | Feb 29, 2016 | $799,326 | $710,000 p. 26 | +12.6% |
| 4B | Mar 1, 2016 | $1,211,718 | $1,060,000 p. 25 | +14.3% |
| 5B | Mar 1, 2016 | $1,247,356 | $1,065,000 p. 25 | +17.1% |
| 4A | Mar 2, 2016 | $768,779 | $700,000 p. 25 | +9.8% |
| 4D | Mar 7, 2016 | $758,596 | $685,000 p. 25 | +10.7% |
| 3A | Mar 11, 2016 | $753,505 | $705,000 p. 25 | +6.9% |
| 2D | Mar 17, 2016 | $722,958 | $665,000 p. 25 | +8.7% |
| 5D | Mar 24, 2016 | $773,870 | $695,000 p. 25 | +11.3% |
| 6C | Apr 22, 2016 | $1,198,480 | $1,060,000 p. 26 | +13.1% |
| 3B | Apr 26, 2016 | $1,196,444 | $1,055,000 p. 25 | +13.4% |
| PHB | May 2, 2016 | $1,680,113 | — | — |
| 5C | May 12, 2016 | $1,181,170 | $1,055,000 p. 25 | +12% |
| 3D | May 26, 2016 | $753,505 | $675,000 p. 25 | +11.6% |
| 2B | Jun 16, 2016 | $1,135,349 | $1,050,000 p. 25 | +8.1% |
| 6D | Jun 30, 2016 | $794,235 | $700,000 p. 26 | +13.5% |
| 4C | Jul 20, 2016 | $1,165,896 | $1,050,000 p. 25 | +11% |
| 2A | Jul 25, 2016 | $707,684 | $660,000 p. 25 | +7.2% |
| 6B | Jul 28, 2016 | $1,267,721 | $1,070,000 p. 26 | +18.5% |
| 3C | Jul 29, 2016 | $1,150,623 | $1,045,000 p. 25 | +10.1% |
| 2C | Sep 15, 2016 | $1,130,258 | $1,050,000 p. 25 | +7.6% |
| 1C | Dec 10, 2019 | $2,450,000 | — | — |
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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
- Empire Funding Partners LLC
- Developers
- BK Developers, Kora Developers LLCReported by digital-editions.schnepsmedia.com
- Counsel
- Tsyngauz & Associates, P.C.
- Tax estimate
- MGNY Consulting Corp.Prepared the first-year real estate tax projection
- Construction lender
- Valley National Bank$7.59 million loan stated in the plan
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- 10-42 Condominiumnext door · 4 units · 2019
- 10-27 47th Road Condominiumnext door · 3 units · 2017
- The Arco Condominiumnext door · 22 units · 11 parking
- Badge Buildingnext door · 44 units · 2006
- 10-18 47th Avenue Condominiumnext door · 2 units · 2017
- Hunters View Condominium ** All Units Are Sold Out**next door · 73 units · 37 parking · 2007