THE CONDO BOOK PROJECT

Cherry Plaza Condominium

141-15 Cherry Avenue, Queens, NY 11355

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Overview

Cherry Plaza is a 25-unit condo in Queens, with 13 parking units.

  • Offering plan: Accepted September 2023 · 319 pages
  • Finishes: Hardwood floors, cultured marble kitchen countertops, Frigidaire and GE appliances and Delta bathroom fittings
  • Prices: $1,028 a square foot on average, as first offered; $17.8 million in all ($16 million when first offered)
  • Common charges: $248–$609 a month, the sponsor's first-year estimate
  • Utilities: Electricity and gas paid by the owner; water and sewer in the common charges p. 54
  • Sponsor: Cherry 17 Group LLC, represented by Lawrence Lixin Yang, P.C.; principals Tai Song Lin
  • Neighborhood: Flushing, Queens
  • Subway: 13-minute walk to Flushing-Main St (7)
  • Amendments: 7, the latest in July 2026
  1. AcceptedSeptember 2023
  2. 7 amendments
  3. First sale
  4. Latest sale

Sales

19 of 25 units sold (76%)

$10.8 millionin sales
$1,036/SFaverage sale price
December 2024 – August 2026first to latest sale
UnitSoldPrice
3EAug 7, 2026$672,045
4DJul 6, 2026$702,593
5DApr 20, 2026$692,410
6DJan 21, 2026$722,958
4AJan 15, 2026$479,622
6ADec 22, 2025$600,768
2DOct 29, 2025$692,410
6CAug 26, 2025$519,308
5AMay 14, 2025$590,585
3DMar 20, 2025$763,688
4BMar 3, 2025$494,832
5BMar 3, 2025$486,720
3CFeb 28, 2025$524,399
2AFeb 3, 2025$451,646
2CJan 24, 2025$423,852
3AJan 17, 2025$529,490
2BJan 15, 2025$415,740
3BDec 19, 2024$448,000
4CDec 19, 2024$560,038
Every sale: 19 recorded sales, with price and dateGet Full Access

From city records (ACRIS), through Aug 31, 2026.

Common Charges & First-Year Budget

Property Taxes

The plan's first-year tax estimate, checked against the city's real bills for 17 homes.

Plan's estimate
$3,390 a year per homeSchedule A, as first filed
Full tax, FY2026
$6,790 a year per homeBefore any tax break; 101% more than the estimate
Billed, FY2026
$6,790 a year per home101% more than the estimate

Checked against the first full year's bill for 17 homes: 17 paid more. The typical home paid 101% more than estimated.

HomePlan's estimateFirst yearCurrent
2A$2,767$5,549FY2026$5,549FY2026
2B$2,456$4,926FY2026$4,926FY2026
2C$2,598$5,210FY2026$5,210FY2026
2D$4,055$8,132FY2026
2E$6,042$12,118FY2026$12,118FY2026
3A$2,841$5,697FY2026$5,697FY2026
3B$2,530$5,074FY2026$5,074FY2026
3C$2,671$5,357FY2026$5,357FY2026
3D$4,179$8,381FY2026$8,381FY2026
3E$4,258$8,540FY2026
4A$2,869$5,754FY2026
4B$2,558$5,131FY2026$5,131FY2026
4C$2,700$5,414FY2026$5,414FY2026
4D$4,207$8,438FY2026
4E$4,286$8,597FY2026$8,597FY2026
5A$2,897$5,811FY2026$5,811FY2026
5B$2,586$5,187FY2026$5,187FY2026
5C$2,728$5,471FY2026$5,471FY2026
5D$4,236$8,495FY2026
5E$4,315$8,653FY2026$8,653FY2026
6A$2,925$5,867FY2026
6B$2,615$5,244FY2026$5,244FY2026
6C$2,756$5,527FY2026
6D$4,264$8,552FY2026
6E$4,343$8,710FY2026$8,710FY2026

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
$1,500.00Paid by the purchaser to the sponsor's attorneys for the closingp. 49
Counsel's extra charges
  • $350.00: Attendance fee if closing outside counsel's officep. 49
  • $350.00: Assistance fee for mortgage applicationp. 49
  • $350.00: Assignment/amendment fee for each assignment or amendment to Purchase Agreementp. 49
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. 13
Working capital
“one (1) month's common charge”Contribution to the condominium's working capital fundp. 9

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

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

Amendments

Amendment 6 Aug 14, 2025

Amendment extends the offering plan term and confirms construction completion with Final Certificate of Occupancy issued March 18, 2025.

  • Final Certificate of Occupancy issued March 18, 2025
  • Building construction completed
  • First unit closing occurred; offering consummated
  • No change to common charges or individual expenses
  • Sponsor owns 64.9445% of condominium (14 units and penthouse shares)
  • Sponsor's estimated monthly common charges: $5,908.76
  • Sponsor's estimated monthly real estate tax: $4,884.96
  • Sponsor to relinquish Board control within 30 days after closing of last unit or 2 years from first unit closing (December 19, 2024), whichever occurs first

Amendment 5 Jan 27, 2025

Unit 3C price increased from $498,000.00 to $515,000.00, raising total offering prices from $17,794,000.00 to $17,811,000.00.

  • Unit 3C price raised from $498,000.00 to $515,000.00
  • Total offering prices increased from $17,794,000.00 to $17,811,000.00

Amendment 4 Jan 27, 2025

Fourth amendment extends the offering plan term by six months and discloses post-closing status including first unit closure and temporary occupancy certificate.

  • Offering plan term extended by six months from filing date
  • First unit closed December 19, 2024
  • Temporary Certificate of Occupancy issued December 6, 2024; Final Certificate of Occupancy expected around end of April 2025
  • $5,000.00 maintained in escrow for work to obtain Final Certificate of Occupancy
  • Three residential units and one parking space unit closed; 22 residential units and 12 parking spaces remain unsold; seven units currently in contract
  • Board of Managers currently controlled by Sponsor; will transfer to unit owners within 30 days after last unit closes or two years from first closure, whichever first occurs

Amendment 3 Dec 2, 2024

This amendment extends the term of the offering plan for Cherry Plaza Condominium.

  • Offering plan term extended
  • Construction completed; Certificate of Occupancy expected soon
  • No changes to common charges or individual expenses
  • Sponsor owns 100% of condominium interest
  • Estimated aggregate monthly common charges for sponsor's units: $9,098.17
  • Estimated aggregate monthly real estate tax for sponsor's units: about $7,521.75
  • Mortgage held by Cathay Bank

Amendment 2 Sep 6, 2024

Offering prices for 25 residential units and 13 parking spaces are changed, with total offering price increasing from $15,983,000.00 to $17,794,000.00.

  • Residential unit prices changed across all units (2A through 6E), ranging from decreases to increases
  • Parking space prices changed: PS1H raised to $100,000.00, most others to $76,000.00 or $82,000.00
  • Total offering price increased from $15,983,000.00 to $17,794,000.00
  • Schedule A (Amended)(A), Section F replaces prior Schedule A per Exhibit I
  • Projected monthly common charges and real estate taxes updated for all units
  • Projected carrying charges revised for first year and after reassessment

Amendment 1 Apr 17, 2024

Amendment declares the offering plan effective after 15% of units were placed in purchase agreements.

  • Offering plan declared effective on April 17, 2024
  • Four units in purchase agreements (15% of total units offered)
  • No closings permitted until amendment is accepted by New York State Attorney General
  • Original offering plan accepted for filing September 12, 2023
What each amendment changed, line by lineGet Full Access

Team

Sponsor
Cherry 17 Group LLC
Principals
Tai Song Lin
Tax estimate
Lawrence Lixin Yang, P.C.Prepared the first-year real estate tax projection
General contractor
W & L Group ConstructionHeld the general construction permit on DOB NOW job Q00484021
Property report
Tan Architect, P.C.Prepared the plan's description of the property and its condition · Named on p. 132
Title agency
Liberty Land Abstract, Inc.The sponsor's title company for buyers; you can choose another · Agent for Chicago Title Insurance Company · Named on p. 84

Zoning

Zoning district
R7B

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

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