THE CONDO BOOK PROJECT

Boulevard Condominium

81-15 Queens Boulevard, Queens, NY 11373

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Overview

Units
42 residential · 3 commercial
Subway
6 min walk to Grand Av-Newtown M RElmhurst Av M R, 8 min
Principals
David Chan, Dr. Harry Kosovky, Michael N. Lin, Richard Ng, Shyi-Fuh Ng
Offering price
$35.1 million total

The sponsor of record is C&N Realty Development, LLC, represented by Forchelli Deegan Terrana LLP. The offering plan runs 404 pages. The sponsor has filed 8 amendments, the latest in November 2013. The nearest other condo plan on file is Dongan Tower Condominium, next door.

Plan CD070195 · New · accepted Jul 9, 2007 · AG record ↗

Compare

FigureThis building1Sage House233 units · 1.9 miaccepted 2009Tri-Crown324 units · 1.2 miaccepted 2007
Average Offering PricePer Apartment$835,548Highest$520,091$376,667

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Unit mix, closings, budgets, finishes and the team, against Sage House and Tri-Crown, 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.

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
C&N Realty Development, LLC
Principals
David Chan, Dr. Harry Kosovky, Michael N. Lin, Richard Ng, Shyi-Fuh Ng
Tax estimate
The Mazursky GroupPrepared the first-year real estate tax projection
Construction lender
Shanghai Commercial Bank$8.8 million loan stated in the plan

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

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