THE CONDO BOOK PROJECT

67-19 Roosevelt Avenue Condominium

67-19 Roosevelt Avenue, Queens, NY 11377

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Overview

Units
9 residential · 1 commercial
Subway
3 min walk to 69 St 765 St M R, 5 min
Principals
Fong Keng Wong, Hui Zhen Li
Average $/sf
$787Homes in Schedule A, as first offered
Common charges
$156–$189 a monthSponsor's first-year estimate in Schedule A, July 1, 2017 to June 30, 2018
Offering price
$5.48 million total

The sponsor of record is Whl Realty LLC, represented by Thomas E. Berinato, Attorney At Law. The offering plan runs 268 pages. The sponsor has filed 2 amendments, the latest in December 2018. The nearest other condo plan on file is 67-17 Roosevelt Avenue Condominium, next door.

Plan CD160273 · New · accepted Mar 29, 2017 · AG record ↗

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FigureThis building1The Blvd211 units · 2.1 miaccepted 2016Gbt 31 Drive39 units · 2.5 miaccepted 2019
Common ChargesPer Square Foot / Month$0.30Lowest$0.65$0.71
Average Offering PricePer Apartment$431,111Lowest$828,182$830,049
Average PricePer Square Foot$787Lowest$941$1,111
Property TaxesPer Square Foot / Month$0.31In line$0.14$0.74
Average Unit SizeSquare Feet548 SFSmallest880 SF747 SF

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Unit mix, closings, budgets, finishes and the team, against The Blvd and Gbt 31 Drive, 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 closed22% of the homes in Schedule A2 of 9
Closing prices vs. Schedule A2 homes: $653,000 at closing against $830,000 in Schedule A (p. 28)−21.3%
Average closing price2 homes, on their Schedule A square feet$596 / SF
Closingsfirst and latest recordedDec 19, 2019

Sales recorded with the Department of Finance (ACRIS) through Nov 30, 2020: 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 2 closings
HomeRecordedClosing priceSchedule ADifference
2ADec 19, 2019$328,000$420,000 p. 28−21.9%
3BDec 19, 2019$325,000$410,000 p. 28−20.7%

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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
Whl Realty LLC
Principals
Fong Keng Wong, Hui Zhen Li
Tax estimate
Thomas E. BerinatoPrepared the first-year real estate tax projection

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

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