Alchemy Condominium
50-07 5th Street, Queens, NY 11101
Overview
- Units
- 17 residential
- Subway
- 3 min walk to Vernon Blvd-Jackson Av 721 St G, 10 min
- Developer
- BK Developers Inc.
- Principals
- Semyon Vays, Mark Zeldin
- Average $/sf
- $1,403Homes in Schedule A, as first offered
- Common charges
- $568–$1,270 a monthSponsor's first-year estimate in Schedule A, January 1, 2024 - December 31, 2024
- Offering price
- $18.5 million total $18.4 million when first offered
- Floor plans
- Page 4 of the plan
The sponsor of record is 5007-5009 5th Development LLC, represented by Tsyngauz & Associates, P.C.. The offering plan runs 303 pages. The sponsor has filed 3 amendments, the latest in February 2024. The nearest other condo plan on file is Prestige Condominium, next door.
Plan CD220285 · New · accepted Jul 10, 2023 · AG record ↗
Compare
| Figure | This building1 | Tower 28213 units · 1.4 miaccepted 2023 | Anable322 units · 0.2 miaccepted 2021 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $1.07Highest | $0.91 | $0.62 |
| Average Offering PricePer Apartment | $1.08MIn line | $716,400 | $1.25M |
| Average PricePer Square Foot | $1,403Above peers | $1,303 | $1,376 |
| Property TaxesPer Square Foot / Month | $0.93Lowest | $1.16 | $1.15 |
| Average Unit SizeSquare Feet | 769 SFIn line | 550 SF | 906 SF |
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Unit mix, closings, budgets, finishes and the team, against Tower 28 and Anable, 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 | 17 of 17 |
| Closing prices vs. Schedule A17 homes: $18,925,241 at closing against $18,355,000 in Schedule A (p. 41, p. 42) | +3.1% |
| Average closing price17 homes, on their Schedule A square feet | $1,447 / SF |
| Closingsfirst and latest recorded | Jan 8, 2024 – Apr 12, 2024 |
Sales recorded with the Department of Finance (ACRIS) through Jun 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 17 closings
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| 4A | Jan 8, 2024 | $794,348 | $759,525 p. 41 | +4.6% |
| 1B | Jan 12, 2024 | $1,700,682 | $1,670,200 p. 41 | +1.8% |
| 3D | Jan 15, 2024 | $802,381 | $757,400 p. 41 | +5.9% |
| 3A | Jan 16, 2024 | $759,819 | $746,200 p. 41 | +1.8% |
| 4C | Jan 16, 2024 | $1,208,319 | $1,142,625 p. 41 | +5.7% |
| 3C | Jan 17, 2024 | $1,166,922 | $1,121,850 p. 41 | +4% |
| 4D | Jan 18, 2024 | $779,090 | $772,850 p. 41 | +0.8% |
| 5B | Jan 19, 2024 | $1,222,350 | $1,176,000 p. 42 | +3.9% |
| PH2 | Jan 19, 2024 | $1,473,917 | $1,447,500 p. 42 | +1.8% |
| 3B | Jan 22, 2024 | $1,179,313 | $1,134,000 p. 41 | +4% |
| 5A | Jan 22, 2024 | $798,766 | $784,450 p. 41 | +1.8% |
| 5D | Jan 22, 2024 | $786,955 | $772,850 p. 42 | +1.8% |
| 4B | Jan 24, 2024 | $1,176,079 | $1,155,000 p. 41 | +1.8% |
| 1A | Jan 26, 2024 | $1,768,497 | $1,661,800 p. 41 | +6.4% |
| 2A | Jan 29, 2024 | $1,162,350 | $1,162,350 p. 41 | 0% |
| PH1 | Feb 2, 2024 | $943,918 | $927,000 p. 42 | +1.8% |
| 5C | Apr 12, 2024 | $1,201,535 | $1,163,400 p. 42 | +3.3% |
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
- 5007-5009 5th Development LLC
- Developer
- BK Developers Inc.Reported by web.archive.org
- Principals
- Semyon Vays, Mark Zeldin
- Counsel
- Tsyngauz & Associates, P.C.
- Tax estimate
- AVA Expediting Inc.Prepared the first-year real estate tax projection
- Construction lender
- Valley National Bank$8.4 million loan stated in the plan
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
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