THE CONDO BOOK PROJECT

Century Condominium

83-71 116th Street, Queens, NY 11415

Overview

Units
30 residential · 14 parking · 1 commercial
Subway
11 min walk to 121 St J Z111 St J, 14 min
Principals
Albert Shirian, Ramin Shirian, Ramina Sasson
Average $/sf
$341Homes in Schedule A, as first offered
Offering price
$9.48 million total

The sponsor of record is New York Lions Group, Inc, represented by Perry Balagur. The offering plan runs 297 pages. The sponsor has filed 1 amendment, the latest in March 2003. The nearest other condo plan on file is Metro Falls Condominium, next door.

Plan CD020155 · New · accepted Jan 23, 2003 · AG record ↗

Compare

FigureThis building1Elmwood Gardens220 units · 2.9 miaccepted 2004Cherry Tower321 units · 3.5 miaccepted 2005
Common ChargesPer Square Foot / Month$0.21Lowest$0.42$0.53
Average Offering PricePer Apartment$298,129Below peers$337,825$349,333
Average PricePer Square Foot$341Lowest$444$433
Average Unit SizeSquare Feet874 SFLarger761 SF806 SF

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Unit mix, closings, budgets, finishes and the team, against Elmwood Gardens and Cherry Tower, 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 closed100% of the homes in Schedule A31 of 31
Closing prices vs. Schedule A29 homes: $9,214,844 at closing against $8,229,000 in Schedule A (p. 92, p. 93)+12%
Average closing price29 homes, on their Schedule A square feet$399 / SF
Closingsfirst and latest recordedSep 2, 2004 – Dec 11, 2009

Sales recorded with the Department of Finance (ACRIS) through Aug 31, 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 31 closings
HomeRecordedClosing priceSchedule ADifference
6ASep 2, 2004$444,132$389,000 p. 93+14.2%
7CSep 7, 2004$273,000$359,000 p. 93−24%
7DSep 9, 2004$257,556$299,000 p. 93−13.9%
3CSep 13, 2004$237,000$204,000 p. 92+16.2%
4CSep 14, 2004$243,000$209,000 p. 92+16.3%
5ASep 15, 2004$430,000$384,000 p. 92+12%
3BSep 22, 2004$235,000$209,000 p. 92+12.4%
5BSep 23, 2004$272,000$224,000 p. 92+21.4%
4BSep 29, 2004$267,000$219,000 p. 92+21.9%
2COct 5, 2004$232,000$199,000 p. 92+16.6%
5DOct 8, 2004$246,402$229,000 p. 92+7.6%
5COct 12, 2004$292,696$214,000 p. 92+36.8%
3AOct 13, 2004$402,558$374,000 p. 92+7.6%
2DOct 15, 2004$228,000$214,000 p. 92+6.5%
2BOct 20, 2004$243,000$209,000 p. 92+16.3%
2EOct 20, 2004$351,000$279,000 p. 92+25.8%
6DOct 21, 2004$278,000$234,000 p. 93+18.8%
5EOct 28, 2004$366,000$294,000 p. 92+24.5%
7EOct 29, 2004$440,000$549,000 p. 93−19.9%
6BNov 1, 2004$278,000$229,000 p. 93+21.4%
M2Nov 30, 2004$285,110——
7BDec 8, 2004$295,000$299,000 p. 93−1.3%
4DDec 29, 2004$270,000$224,000 p. 92+20.5%
6CJan 31, 2005$262,500$219,000 p. 93+19.9%
4EApr 8, 2005$385,000$289,000 p. 92+33.2%
4AMay 26, 2005$495,000$379,000 p. 92+30.6%
3EAug 10, 2005$380,000$284,000 p. 92+33.8%
7ASep 6, 2005$457,000$497,000 p. 93−8%
M1Mar 31, 2006$346,205——
6EJul 10, 2008$387,000$299,000 p. 93+29.4%
3DDec 11, 2009$267,000$219,000 p. 92+21.9%

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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
New York Lions Group, Inc
Principals
Albert Shirian, Ramin Shirian, Ramina Sasson
Tax estimate
Empire Consulting Service, Inc.Prepared the first-year real estate tax projection

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

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