THE CONDO BOOK PROJECT

Avery Hills Condominium

133-26 Avery Avenue, Queens, NY 11355

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Overview

Avery Hills is a 10-unit condo in Queens, with 2 parking units.

  • Offering plan: Accepted October 2010 · 232 pages
  • Finishes: 8'1" ceilings, granite kitchen countertops, Techine Studio cabinets, GE appliances and through-wall PTAC units for heating and cooling
  • Prices: $636 a square foot on average, as first offered; $3.65 million in all
  • Utilities: Electricity, gas, heat and hot water paid by the owner p. 32
  • Sponsor: Avery Hills LLC, represented by Kevin Kerveng Tung, P.C.; principals Wang Tong, Feng Cui, Rui Lan Yu and Zong Wen Zou
  • Neighborhood: Flushing, Queens
  • Subway: 12-minute walk to Flushing-Main St (7)
  • Amendments: 4, the latest in September 2013
  1. AcceptedOctober 2010
  2. 4 amendments
  3. First sale
  4. Latest sale

Sales

10 of 10 units sold (100%)

$4.01 millionin sales
$706/SFaverage sale price
September 2013 – June 2025first to latest sale
UnitSoldPrice
BAJun 9, 2025$390,000
1BJul 12, 2024$390,390
3AJan 8, 2024$450,000
3BMar 1, 2023$470,000
BBFeb 22, 2023$357,942
1ASep 15, 2022$389,800
2BJul 11, 2022$530,000
2AMay 6, 2014$324,480
4ASep 13, 2013$354,900
4BSep 13, 2013$354,900
Every sale: 10 recorded sales, with price and dateGet Full Access

From city records (ACRIS), through Oct 31, 2025.

Common Charges & First-Year Budget

Property Taxes

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

HomeFirst yearCurrent
BA$3,920FY2026$3,920FY2026
BB$1,526FY2024$4,333FY2026
1A$1,623FY2024$4,608FY2026
1B$4,470FY2026$4,470FY2026
2A$4,677FY2026
2B$1,598FY2024$4,539FY2026
3A$3,181FY2025$4,745FY2026
3B$1,623FY2024$4,608FY2026
4A$6,877FY2026
4B$6,946FY2026

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
$850.00Paid by the purchaser to the sponsor's attorneys for the closingp. 8
Counsel's extra charges
  • $150.00: closing outside counsel's officep. 8
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. 8
Working capital
“one (1) month's common charge”Contribution to the condominium's working capital fundp. 6

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

All 4 closing costs in the plan, with their pagesGet Full Access

Amendments

Amendment 4 Sep 5, 2013

Fourth Amendment delays first closing to November 1, 2013, replaces escrow procedures with new escrow agent and account details, and updates the first-year budget.

  • First closing rescheduled from June 30, 2010 to November 1, 2013; purchasers have 15-day rescission right
  • Offering plan term extended by 6 months
  • Escrow agent changed to Kevin Kerveng Tung, P.C. at 136-20 387 Avenue, Suite 3D, Flushing, New York 11354
  • Escrow account established at Citibank, N.A., Flushing, NY; FDIC insured up to $250,000 per deposit
  • First-year budget (Nov. 1, 2013 to Oct. 31, 2014): Common charges $23,923.20; total expenses $23,923.20
  • Revised escrow procedures require Escrow Agent to place deposits within 5 business days and notify purchaser within 10 business days
  • New Attorney General regulations eliminate AG authority over deposit disputes for purchasers without fully executed agreements before amendment date

Amendment 3 Dec 14, 2011

Sponsor declared the offering plan effective after two units were sold, exceeding the 15% minimum requirement.

  • Plan declared effective by sponsor on December 14, 2011
  • Two units sold: Unit 2A and Unit 4B
  • Sales meet 15% threshold required to declare plan effective
  • No closings will occur until amendment is accepted for filing
  • Second amendment acceptance date corrected to November 29, 2011

Amendment 2 Oct 27, 2011

Corrects calculation errors in estimated real estate taxes and carrying charges on Schedule A.

  • Estimated Real Estate Taxes recalculated
  • Total Estimated Carrying Charges corrected
  • New Schedule A replaces original Schedule A

Amendment 1 Jul 6, 2011

Amendment updates Schedule A offering prices, unit square footage, and floor plans for 10 residential units and 2 parking spaces.

  • Schedule A offering prices and approximate gross square footage for all residential units amended
  • Offering prices range from $20,000 to $3,880,000
  • Floor plans in Section FF replaced with new plans shown in Exhibit B
  • Schedule A supersedes original pricing and common area charge information
What each amendment changed, line by lineGet Full Access

Team

Sponsor
Avery Hills LLC
Principals
Wang Tong, Feng Cui, Rui Lan Yu, Zong Wen Zou
General contractors
A1 Empire Construction, Vera ConstructionHeld the general construction permit on DOB job 402604730

Zoning

Zoning district
R6

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

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