THE CONDO BOOK PROJECT

State Tower Condominium

146-14 35th Avenue, Queens, NY 11354

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Overview

State Tower is an 18-unit condo in Queens, with 1 parking unit and 4 commercial units.

  • Offering plan: Accepted September 2004 · 232 pages
  • Finishes: Hardwood floors, granite kitchen countertops, plastic laminate cabinets, GE appliances and a washer and dryer in each apartment
  • Prices: $6.42 million in all
  • Common charges: $250–$375 a month, the sponsor's first-year estimate
  • Utilities: Electricity and gas paid by the owner; water and sewer in the common charges p. 28
  • Sponsor: 146 Developing Company LLC, represented by D. Feldman & Associates, P.C.; principals David Chan, Chi Hua Hsu and Po Sheng Hsu
  • Neighborhood: Murray Hill, Queens
  • Subway: 17-minute walk to Flushing-Main St (7)
  • Amendments: 2, the latest in November 2004
  1. AcceptedSeptember 2004
  2. 2 amendments
  3. First sale
  4. Latest sale

Sales

16 of 18 units sold (89%)

$4.89 millionin sales
February 2005 – April 2005first to latest sale
UnitSoldPrice
PH-BApr 22, 2005$354,106
3-BApr 14, 2005$312,000
7-CMar 25, 2005$268,508
PH-CMar 25, 2005$277,836
3-CMar 23, 2005$254,514
6-AMar 23, 2005$329,550
6-CMar 9, 2005$259,584
2-CMar 7, 2005$261,612
5-BMar 7, 2005$318,000
5-AMar 2, 2005$313,879
2-BMar 1, 2005$320,240
2-AFeb 28, 2005$340,206
7-AFeb 25, 2005$332,592
7-BFeb 17, 2005$339,690
PH-AFeb 16, 2005$349,129
5-CFeb 15, 2005$256,542
Every sale: 16 recorded sales, with price and dateGet Full Access

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

Common Charges & First-Year Budget

Property Taxes

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

HomePlan's estimateCurrent
2-A$125$8,246FY2026
2-B$116$9,400FY2026
2-C$91$6,372FY2026
3-A$116$9,198FY2026
3-B$118$9,293FY2026
3-C$89$7,501FY2026
5-A$118$7,720FY2026
5-B$118$7,799FY2026
5-C$89$6,241FY2026
6-A$120$3,988FY2026
6-B$120$8,181FY2026
6-C$91$7,661FY2026
7-A$123$9,829FY2026
7-B$123$4,183FY2026
7-C$91$6,524FY2026
PH-A$133$8,498FY2026
PH-B$133$10,459FY2026
PH-C$101$6,756FY2026

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
$750.00Paid by the purchaser to the sponsor's attorneys for the closingp. 8
Counsel's extra charges
  • $250.00: Title search from company other than SUMMIT ASSOCIATESp. 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. 22
Working capital
“one (1) month's common charge”Contribution to the condominium's working capital fundp. 6
Real Property Transfer Tax Return filing fee
$50.00Paid to City Registerp. 55

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

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

Amendments

Amendment 2 October 2004

Plan declared effective with 4 units sold, and minor layout modifications made to 6 units.

  • Plan declared effective October 22, 2004 with 4 units sold (17.3996% of building)
  • Minor layout modifications to Units 2A, 3A, 5A, 6A, 7A, and PH-A
  • Modified floor plans attached as Exhibit B

Amendment 1 Oct 4, 2004

All unit prices increased effective immediately, except Garage Unit G-1.

  • Schedule A prices increased for 18 homes (median +6.0%): 2-A $328,650 → $338,509; 2-B $300,300 → $318,328; 2-C $239,400 → $261,582; 3-A $302,400 → $311,472; ...
What each amendment changed, line by lineGet Full Access

Team

Sponsor
146 Developing Company LLC
Principals
David Chan, Chi Hua Hsu, Po Sheng Hsu
General contractor
Metal Stone ConstructionHeld the general construction permit on DOB job 401585986

Zoning

Zoning district
R7-1

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

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