THE CONDO BOOK PROJECT

Parkview Condominium

131-11 Fowler Avenue, Queens, NY 11355

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Overview

Parkview is an 80-unit condo in Queens, with 42 parking units and 4 commercial units.

  • Offering plan: Accepted July 2020 · 406 pages
  • Finishes: Vinyl plank floors, quartz kitchen countertops, Frigidaire appliances, a washer and dryer in each apartment and a VRF heat pump system for heating and cooling
  • Prices: $1,004 a square foot on average, as first offered; $84.1 million in all
  • Common charges: $339–$714 a month, the sponsor's first-year estimate
  • Utilities: Electricity paid by the owner; water and sewer in the common charges p. 47
  • Developer: W&L Group Construction; principals Philip W. Chong and Meng Hua Wang
  • Sponsor: 131-05 Holding LLC, represented by Moritt Hock & Hamroff, LLP
  • Neighborhood: Flushing, Queens
  • Subway: 15-minute walk to Mets-Willets Point (7); 16 minutes to Flushing-Main St (7)
  • Amendments: 4, the latest in November 2022
  1. AcceptedJuly 2020
  2. 4 amendments
  3. First sale
  4. Latest sale

Sales

79 of 80 units sold (99%)

$52.9 millionin sales
$850/SFaverage sale price
April 2021 – December 2025first to latest sale
UnitSoldPrice
7GDec 1, 2025$990,000
8CAug 13, 2025$904,206
8AOct 9, 2024$743,323
8BOct 20, 2023$707,684
6AOct 12, 2023$702,593
8FMay 30, 2023$656,771
7IApr 18, 2023$687,319
7CMar 20, 2023$814,600
2CDec 19, 2022$702,593
3FOct 28, 2022$533,512
4MAug 30, 2022$656,771
4AAug 23, 2022$666,954
8DAug 19, 2022$870,604
5GJul 12, 2022$722,958
5FJul 5, 2022$667,206
6GMay 12, 2022$738,231
2KMay 11, 2022$722,958
6CApr 21, 2022$724,994
2LMar 25, 2022$560,038
6IMar 10, 2022$706,300
8EMar 8, 2022$722,958
5JFeb 16, 2022$600,768
7HFeb 4, 2022$715,830
5MJan 27, 2022$689,355
6FJan 26, 2022$743,323
4JJan 25, 2022$534,581
6HJan 25, 2022$712,775
2BJan 24, 2022$719,903
7BJan 20, 2022$682,228
5KJan 18, 2022$677,136
4DJan 5, 2022$573,275
7AJan 4, 2022$705,000
3EDec 29, 2021$653,310
4EDec 7, 2021$733,140
6DNov 23, 2021$609,932
4GNov 17, 2021$738,231
4KNov 16, 2021$626,224
5ANov 16, 2021$679,173
3GNov 15, 2021$672,245
2GNov 9, 2021$651,680
6LNov 3, 2021$656,771
6JOct 27, 2021$585,494
2IOct 22, 2021$626,224
2DOct 19, 2021$517,271
6MOct 19, 2021$695,465
2AOct 18, 2021$647,607
4IOct 14, 2021$708,702
5BOct 5, 2021$636,406
5COct 5, 2021$607,895
3ISep 28, 2021$684,962
3MSep 28, 2021$641,051
6BSep 23, 2021$656,875
2FSep 16, 2021$600,498
6ESep 15, 2021$763,688
7FSep 15, 2021$997,885
2MSep 14, 2021$641,498
5HSep 1, 2021$691,392
3AAug 31, 2021$631,315
7DAug 30, 2021$896,060
5IAug 27, 2021$737,137
3KAug 24, 2021$606,116
5EAug 23, 2021$639,451
2EAug 16, 2021$630,297
3BAug 13, 2021$575,311
5DAug 9, 2021$549,855
5LAug 5, 2021$633,204
4CAug 4, 2021$633,906
4BJul 30, 2021$608,914
4FJul 26, 2021$666,954
4LJul 22, 2021$598,731
3JJul 19, 2021$521,344
2HJul 14, 2021$597,845
3DJun 25, 2021$523,177
6KJun 15, 2021$651,234
3HJun 9, 2021$642,745
3LJun 4, 2021$586,512
3CJun 2, 2021$590,808
2JMay 12, 2021$479,740
4HApr 29, 2021$631,315
Every sale: 79 recorded sales, with price and dateGet Full Access

From city records (ACRIS), through Feb 28, 2026.

Common Charges & First-Year Budget

Property Taxes

The plan's first-year tax estimate, checked against the city's real bills for 69 homes.

Checked against the first full year's bill for 69 homes: 69 paid less. The typical home paid 23% less than estimated.

HomePlan's estimateFirst yearCurrent
2A$9,101$7,283FY2024$7,576FY2026
2B$8,809$7,355FY2024$7,652FY2026
2C$9,276$7,788FY2024$8,102FY2026
2D$7,500$5,552FY2024$5,776FY2026
2E$9,591$7,211FY2024$7,502FY2026
2F$9,148$6,922FY2024$7,201FY2026
2G$9,694$7,355FY2024$7,652FY2026
2H$9,148$6,922FY2024$7,201FY2026
2I$9,591$7,211FY2024$7,502FY2026
2J$7,360$5,626FY2026
2K$9,159$7,643FY2024$7,952FY2026
2L$7,300$6,129FY2024$6,376FY2026
2M$9,101$7,283FY2024$7,576FY2026
3A$9,101$7,139FY2024$7,427FY2026
3B$8,809$6,487FY2023$7,051FY2026
3C$9,276$7,352FY2026
3D$7,500$6,001FY2026
3E$9,591$7,355FY2024$7,652FY2026
3F$9,148$6,995FY2024$7,276FY2026
3G$9,697$7,427FY2024$7,726FY2026
3H$9,148$7,276FY2026
3I$9,591$7,039FY2023$7,652FY2026
3J$7,360$5,382FY2023$2,926FY2026
3K$9,159$6,995FY2024$7,276FY2026
3L$8,809$7,051FY2026
3M$9,101$7,139FY2024$7,427FY2026
4A$9,101$7,139FY2024$7,427FY2026
4B$8,809$6,778FY2024$7,051FY2026
4C$9,276$7,067FY2024$7,352FY2026
4D$7,500$5,769FY2024$6,001FY2026
4E$9,591$7,355FY2024$7,652FY2026
4F$9,148$6,995FY2024$7,276FY2026
4G$9,697$7,427FY2024$7,726FY2026
4H$9,148$7,276FY2026
4I$9,591$7,355FY2024$7,652FY2026
4J$7,360$5,624FY2024$5,851FY2026
4K$9,159$6,995FY2024$7,276FY2026
4L$8,809$6,778FY2024$7,051FY2026
4M$9,101$7,139FY2024$7,427FY2026
5A$9,101$7,139FY2024$7,427FY2026
5B$8,809$6,778FY2024$7,051FY2026
5C$9,276$7,067FY2024$7,352FY2026
5D$7,500$5,769FY2024$6,001FY2026
5E$9,591$7,355FY2024$7,652FY2026
5F$9,148$6,995FY2024$7,276FY2026
5G$9,697$7,427FY2024$7,726FY2026
5H$9,148$6,995FY2024$7,276FY2026
5I$9,591$7,355FY2024$7,652FY2026
5J$7,360$5,624FY2024$5,851FY2026
5K$9,159$6,995FY2024$7,276FY2026
5L$8,809$6,778FY2024$7,051FY2026
5M$9,101$7,139FY2024$7,427FY2026
6A$9,101$7,335FY2025$7,427FY2026
6B$8,809$6,778FY2024$7,051FY2026
6C$9,276$7,067FY2024$7,352FY2026
6D$7,500$5,769FY2024$6,001FY2026
6E$9,591$7,355FY2024$7,652FY2026
6F$9,148$6,995FY2024$7,276FY2026
6G$9,697$7,108FY2023$7,726FY2026
6H$9,148$6,995FY2024$7,276FY2026
6I$9,591$7,355FY2024$7,652FY2026
6J$7,360$5,769FY2024$6,001FY2026
6K$9,159$7,352FY2026
6L$8,809$6,778FY2024$7,051FY2026
6M$9,101$7,139FY2024$7,427FY2026
7A$9,101$7,139FY2024$7,427FY2026
7B$8,809$6,778FY2024$7,051FY2026
7C$13,914$11,321FY2024$11,778FY2026
7D$11,601$9,374FY2024$9,752FY2026
7E$13,517$11,853FY2026
7F$11,601$9,374FY2024$9,752FY2026
7G$13,914$11,778FY2026
7H$8,809$6,778FY2024$7,051FY2026
7I$9,101$7,139FY2024$7,427FY2026
8A$9,101$7,652FY2026$7,652FY2026
8B$8,809$7,187FY2025$7,276FY2026
8C$12,442$10,202FY2026
8D$12,442$9,807FY2024$10,202FY2026
8E$8,809$6,995FY2024$7,276FY2026
8F$9,101$7,355FY2024$7,652FY2026

The plan's estimate is the sponsor's guess for year one. The city's bill is the real one, from the Department of Finance.

Each home's estimate, city bills and tax breaksGet Full Access

Closing Costs

The buyer pays the NYC and NY State transfer taxes, which a seller usually pays.

Sponsor's counsel fee
$2,000Paid by the purchaser to the sponsor's attorneys for the closingp. 13
Counsel's extra charges
  • $250: ACRIS transfer documents preparationp. 13
  • $500: Adjourned closingp. 13
  • $250: Closing outside counsel's officep. 94
Transfer taxes
Paid by the purchaserNew York City and State transfer taxes, by law the seller's, shift to the buyer in a sponsor salep. 7
Working capital
“two (2) months Common Charges”Contribution to the condominium's working capital fundp. 13

Not listed: title insurance, mortgage tax, lender fees, mansion tax.

All 6 closing costs in the plan, with their pagesGet Full Access

Amendments

Amendment 4 2023

Amendment transfers 11 residential units to a successor sponsor entity and updates sponsor financial and operational disclosures.

  • Units 1A, 1B, 2C, 4A, 6A, 7E, 7G, 7I, 8A, 8B, 8C transferred to Fowler Ave Properties LLC (successor sponsor)
  • Successor sponsor principal is Philip W. Chong
  • As of October 24, 2022: 2 unsold retail units, 1 unsold residential unit, and parking garage held by sponsor
  • Sponsor collecting common charges since May 1, 2022
  • Retail units 1C and 1D leased; sponsor receives $28,000 per month in rent
  • Sponsor current on all financial obligations
  • Plan valid for 6 months from amendment filing date

Amendment 3 Mar 31, 2022

Amendment updates unit inventory, common charge collection start date, mortgage details, and first-year budget for Parkview Condominium.

  • As of March 28, 2022: 4 unsold retail units and 16 unsold residential units; 7 units in contract
  • Sponsor to begin collecting common charges May 1, 2022
  • Mortgage with Shanghai Commercial Bank: $1,500,000 balance at 4.50%, maturing May 20, 2022
  • Sponsor expects 3 closings in 30-45 days to pay off remaining mortgage balance
  • Updated first-year budget: $447,203 estimated income from 80 residential units, 4 commercial units, 42 parking spaces
  • Board of Managers: Eric Chong, Hei Kang Kwok, Tong Wang (all sponsor-affiliated)
  • 2021 audited financials not yet available; Sponsor will amend plan when available
  • Plan extension valid for 6 months from amendment filing date

Amendment 2 Sep 14, 2021

Amendment updates closing and financial status following first unit closing on April 29, 2021, and establishes reserve and working capital funds.

  • Declaration and By-Laws recorded April 9, 2021; first residential unit (4H) closed April 29, 2021
  • Final Certificate of Occupancy received February 4, 2021
  • Reserve Fund established at Cathay Bank with balance of $40,655 as of September 1, 2021
  • Working Capital fund established with balance of $22,882.01 as of September 1, 2021
  • As of September 1, 2021: 57 unsold residential units and 4 unsold commercial units
  • Sponsor to begin collecting Common Charges from unit owners commencing March 1, 2022
  • Unsold units subject to mortgage with Shanghai Commercial Bank Ltd with current balance of $29,785,007.42
  • Transfer tax obligations shifted to purchasers; New York State Mansion Tax of 1% applies to residential units with combined sales price of $1,000,000 or more

Amendment 1 Feb 25, 2021

Plan declared effective on January 27, 2021 with 13 units sold; first closing moved to April 30, 2021; budget reduced by approximately $95,174; management company relocated.

  • Plan declared effective January 27, 2021 (13 of 80 units sold, 16.25%)
  • First closing anticipated on or about April 30, 2021
  • Budget decreased by approximately $95,174 due to removal of site manager position and utility adjustments
  • Common Charges reduced in Schedule A
  • Management Company G Buddy Inc. relocated to 8725 18th Avenue, 2nd Fl., Brooklyn, New York 11214
  • Plan valid for six (6) months from amendment filing date
What each amendment changed, line by lineGet Full Access

Team

Sponsor
131-05 Holding LLC
Developer
W&L Group ConstructionReported by web.archive.org
Principals
Philip W. Chong, Meng Hua Wang
Tax estimate
Moseson & Associates Corp.Prepared the first-year real estate tax projection
Construction lender
Shanghai Commercial Bank$27.8 million recorded
General contractors
Jie Li Construction-Decor, W & L Group ConstructionHeld the general construction permit on DOB job 421260110
Title agency
Cornerstone Land Abstract, LLCThe sponsor's title company for buyers; you can choose another · Named on p. 88
Buyer's lenders
Popular Bank, Wells FargoThe sponsor's preferred mortgage lenders; you can use another, though the mortgage contingency is offered through the sponsor's lender · Named on p. 9

Zoning

Zoning district
C2-6A

Today's zoning, from city data (PLUTO 26v2).

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