THE CONDO BOOK PROJECT

Parsons Tower Condominium

71-66 Parsons Blvd, Queens, NY 11365

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Overview

Units
55 residential · 27 parking · 2 commercial
Subway
31 min walk to Parsons Blvd FBriarwood E F, 34 min
Principals
Meiyun Chen, Bi Yuan Chen, Zhou Xu
Average $/sf
$727Homes in Schedule A, as first offered
Offering price
$36.3 million total $33.1 million when first offered

The sponsor of record is Parsons Tower LLC, represented by Law Offices Of William X. Zou. The offering plan runs 343 pages. The sponsor has filed 2 amendments, the latest in June 2019. The nearest other condo plan on file is Fresh Garden Condominium, next door.

Plan CD170363 · New · accepted May 30, 2018 · AG record ↗

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FigureThis building1Parkview280 units · 2 miaccepted 2020Rego Tower 64th Road335 units · 2.5 miaccepted 2020
Common ChargesPer Square Foot / Month$0.31 ⚠Lowest$0.57$0.47
Average Offering PricePer Apartment$562,281Lowest$795,796$739,588
Average PricePer Square Foot$727Lowest$1,004$1,080
Average Unit SizeSquare Feet774 SFIn line793 SF685 SF

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Unit mix, closings, budgets, finishes and the team, against Parkview and Rego Tower 64th Road, 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.

⚠ Read from a partly legible Schedule B.

Closings Pro

Homes closed60% of the homes in Schedule A34 of 57
Closing prices vs. Schedule A34 homes: $16,269,016 at closing against $16,100,210 in Schedule A (p. 32, p. 33)+1%
Average closing price34 homes, on their Schedule A square feet$801 / SF
Closingsfirst and latest recordedFeb 14, 2019 – Aug 13, 2026

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 34 closings
HomeRecordedClosing priceSchedule ADifference
6KFeb 14, 2019$448,695$447,200 p. 33+0.3%
5DFeb 19, 2019$419,796$405,270 p. 33+3.6%
2AFeb 28, 2019$603,313$549,480 p. 32+9.8%
7AMar 4, 2019$664,408$624,510 p. 33+6.4%
5BMar 5, 2019$451,230$399,740 p. 33+12.9%
6BMar 5, 2019$451,230$404,800 p. 33+11.5%
6JMar 5, 2019$408,135$408,000 p. 33+0%
5JMar 7, 2019$410,670$402,900 p. 33+1.9%
6FMar 11, 2019$451,230$460,800 p. 33−2.1%
6IMar 11, 2019$519,308$520,000 p. 33−0.1%
6GMar 12, 2019$460,863$403,200 p. 33+14.3%
5IMar 13, 2019$585,494$513,500 p. 33+14%
5HMar 14, 2019$529,490$513,500 p. 33+3.1%
2DMar 18, 2019$385,320$397,600 p. 32−3.1%
5AMar 21, 2019$621,133$571,170 p. 33+8.7%
4IMar 22, 2019$529,490$507,000 p. 32+4.4%
6AMar 22, 2019$616,041$578,400 p. 33+6.5%
5GApr 1, 2019$408,642$398,160 p. 33+2.6%
4DApr 4, 2019$462,384$400,140 p. 32+15.6%
6HApr 4, 2019$529,490$520,000 p. 33+1.8%
6CApr 10, 2019$456,300$471,200 p. 33−3.2%
5KMay 22, 2019$438,555$441,610 p. 33−0.7%
5FMay 6, 2022$470,000$455,040 p. 33+3.3%
7DJun 8, 2022$610,000$666,410 p. 33−8.5%
2BOct 7, 2022$402,800$384,560 p. 32+4.7%
7EJan 12, 2024$588,000$623,730 p. 33−5.7%
3BJan 26, 2024$406,000$389,620 p. 32+4.2%
4CJun 24, 2024$360,000$459,420 p. 32−21.6%
3HSep 13, 2024$505,000$500,500 p. 32+0.9%
3GNov 26, 2024$399,000$388,080 p. 32+2.8%
3JAug 8, 2025$397,000$392,700 p. 32+1.1%
2EMay 29, 2026$400,000$434,840 p. 32−8%
3CJun 29, 2026$420,000$453,530 p. 32−7.4%
6EAug 13, 2026$460,000$613,600 p. 33−25%

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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
Parsons Tower LLC
Principals
Meiyun Chen, Bi Yuan Chen, Zhou Xu
Tax estimate
LAW OFFICES OF WILLIAM X. ZOUPrepared the first-year real estate tax projection

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

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