THE CONDO BOOK PROJECT

Sunlight Barclay Tower Condominium

144-69 Barclay Avenue, Queens, NY 11355

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Overview

Sunlight Barclay Tower is a 23-unit condo in Queens, with 17 parking units and 1 commercial unit.

  • Offering plan: Accepted May 2022 · 329 pages
  • Finishes: Plastic laminate cabinets, Fridgidaire and Fidgidaire appliances, a washer and dryer in each apartment, Delta bathroom fittings and through-wall PTAC units for heating and cooling
  • Prices: $822 a square foot on average, as first offered; $18.3 million in all
  • Utilities: Water and sewer in the common charges p. 198
  • Sponsor: Sunlight Barclay Tower LLC, represented by Moritt Hock & Hamroff, LLP; principals Linzhong Zhuo
  • Neighborhood: Murray Hill, Queens
  • Subway: 13-minute walk to Flushing-Main St (7)
  • Amendments: 4, the latest in November 2023
  1. AcceptedMay 2022
  2. 4 amendments
  3. First sale
  4. Latest sale

Sales

23 of 23 units sold (100%)

$15.9 millionin sales
$763/SFaverage sale price
September 2022 – December 2023first to latest sale
UnitSoldPrice
6DDec 11, 2023$519,308
C101Nov 2, 2023$305,475
7BAug 30, 2023$626,224
2CAug 16, 2023$720,000
2AJun 26, 2023$702,593
7CApr 19, 2023$632,865
5CApr 4, 2023$712,775
2BApr 3, 2023$605,859
4BMar 22, 2023$610,950
3AJan 23, 2023$743,323
3BJan 12, 2023$663,899
5BJan 6, 2023$598,731
4CDec 16, 2022$697,501
6ADec 13, 2022$743,323
7ADec 5, 2022$977,520
4ADec 1, 2022$875,695
6BNov 30, 2022$690,374
4DNov 16, 2022$580,403
5DOct 5, 2022$519,308
6COct 3, 2022$787,026
3DSep 30, 2022$580,403
3CSep 28, 2022$717,866
2DSep 21, 2022$521,344
5ASep 16, 2022$743,323
Every sale: 24 recorded sales, with price and dateGet Full Access

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

Common Charges & First-Year Budget

Property Taxes

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

HomeFirst yearCurrent
2A$2,339FY2024$792FY2026
2B$606FY2024$312FY2026
2C$321FY2025$320FY2026
2D$227FY2024$226FY2026
3A$2,437FY2024$884FY2026
3B$737FY2024$315FY2026
3C$1,129FY2024$324FY2026
3D$230FY2024$229FY2026
4A$2,437FY2024$884FY2026
4B$737FY2024$315FY2026
4C$1,129FY2024$324FY2026
4D$230FY2024$229FY2026
5A$2,437FY2024$884FY2026
5B$737FY2024$315FY2026
5C$1,129FY2024$324FY2026
5D$230FY2024$229FY2026
6A$2,437FY2024$884FY2026
6B$737FY2024$315FY2026
6C$1,129FY2024$324FY2026
6D$230FY2025$229FY2026
7A$9,070FY2024$7,145FY2026
7B$317FY2025$315FY2026
7C$1,129FY2024$324FY2026

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 plan lists what a buyer pays at closing.

Sponsor's counsel fee
$2,500Paid by the purchaser to the sponsor's attorneys for the closingp. 14
Counsel's extra charges
  • $250: ACRIS transfer documents preparationp. 14
  • $500: adjourned closingp. 14
  • $250: closing at location other than Sponsor's attorney officep. 58
Working capital
“two (2) months Common Charges”Contribution to the condominium's working capital fundp. 14

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

All 5 closing costs in the plan, with their pagesGet Full Access

Amendments

Amendment 4 2023

Amendment updates unsold unit inventory, sponsor financial obligations, and condominium budget for the period October 2023 to September 2024.

  • One unsold residential unit (6D at $528,000) and four unsold parking units as of November 7, 2023
  • Sponsor contributes $216.68 monthly common charges for unsold residential unit and $14.40 per unsold parking unit
  • No units currently leased by sponsor
  • Sponsor has no financial obligations due within 12 months beyond common charges
  • Budget updated with yearly operating expenses of $118,228.74 (monthly $9,185.72) for October 2023 to September 2024
  • Plan extension valid for twelve months from amendment acceptance date

Amendment 3 2023

Amendment updates closing status, lists 16 unsold units with prices and charges, and confirms sponsor financial obligations.

  • First residential unit (5A) closed September 14, 2022
  • Building received Final Certificate of Occupancy September 27, 2017
  • 16 unsold units listed with offering prices from $65,000 to $801,600
  • Working capital of $1,050 collected (2 months common charges per unit)
  • Mortgage balance $251,018.54 with S3 Capital Partners, due December 31, 2023
  • Sponsor paying all condominium expenses until common charges collection begins
  • Amendment valid for 6 months from filing date

Amendment 2 2022

Plan declared effective with 4 of 23 residential units under contract; first closing anticipated September 1, 2022.

  • Plan declared effective on June 13, 2022
  • 4 of 23 residential units (17.399%) have executed purchase agreements
  • First closing anticipated on or about September 1, 2022
  • Budget remains unchanged from original offering plan
  • Plan valid for six months from amendment filing date

Amendment 1 Jun 1, 2022

Sponsor increased prices for several unsold units effective June 1, 2022.

  • Prices increased for multiple residential units; units under contract excluded
  • Updated Schedule A with new pricing for 2-bedroom, 3-bedroom, and 1-bedroom units ranging from $531,200 to $1,108,900
  • Schedule A prices increased for 19 homes (median +2.6%): 2C $731,200 → $738,500; 2D $528,000 → $531,200; 3A $801,600 → $808,000; 3C $731,200 → $748,500; ...
What each amendment changed, line by lineGet Full Access

Team

Sponsor
Sunlight Barclay Tower LLC
Principals
Linzhong Zhuo
Tax estimate
Anthony Como AssociatesPrepared the first-year real estate tax projection
Construction lender
S3 Capital$12.8 million recorded
General contractors
TCJ Construction, Adb Bldg ConsultantsHeld the general construction permit on DOB job 420557203
Title agency
Cornerstone Land Abstract, LLCThe sponsor's title company for buyers; you can choose another · Named on p. 90
Buyer's lenders
First Republic Bank, JPMorgan Chase, 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
R7-1

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

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