Prince

The Building

Fine Print

• A hotel underneath: a 208-room hotel fills floors 1 to 5 and part of the cellar, with its own entrance, lobby and elevators. The sponsor hadn't signed anyone to lease or operate it when the plan was filed.
• The commercial owners outvote residents on the board: after the sponsor's control period, the board has seven seats. The community facility, hotel, parking and retail units each appoint one, and residential owners elect three.
• Residents carry most of the budget: the homes hold about 29% of the building's common interest but pay about 64% of the first-year budget, including all of the building's water and gas costs.
• A garage you rent, not buy: the garage owner must set aside at least 84 of its 189 attended spaces for residents, at market rates. Parking isn't sold with the homes.
• Outdoor space instead of a gym: residents get a rear yard of about 10,654 square feet and terraces on the 2nd and 6th floors. There's no gym, pool or common laundry room, and the plan provides no furniture for the outdoor areas.
• Taxes expected to jump: the plan projects residential taxes rising from about $942,000 in 2024/25 to about $1.35 million in 2025/26 once the finished building is assessed. It also says the building won't get the city's condo tax abatement unless building workers are paid prevailing wages.
• The sponsor can rent instead of sell: it keeps the unconditional right to rent and promises only to try to sell 15% of the homes (18 units). The plan warns that owner-occupants may never control the board and that lenders may hesitate.
• Commercial owners' rights: the hotel, garage, retail and community facility units can be altered, subdivided or switched to any lawful use without the board's consent. The plan lists examples from a pharmacy or laundromat to a school or house of worship.
• No resale ads for a year: you can't list or advertise your home for sale or rent before closing or for a year after.
• Closing costs: buyers pay the city and state transfer taxes, a $1,600 fee plus $250 for ACRIS filing to the sponsor's attorneys, and 0.0438% of the balance per day if a closing is delayed through no fault of the sponsor. The purchase isn't contingent on financing.
• Environmental cleanup: the site was cleaned up to the city's Track 2 residential standard, a state spill case was closed in October 2021, and a vapor barrier sits under the foundation.
• No warranty beyond the plan: the sponsor won't warrant materials or workmanship beyond building to the plans. You have 6 months after closing to report visible defects and 12 months for hidden ones.
• House rules: up to two dogs or cats per home. Smoking is banned in indoor common areas but allowed inside apartments.

The Prince stands at the corner of Prince Street and 35th Avenue in Flushing, Queens, where the 7 train stops at Main Street and the Q25, Q34 and Q50 buses run nearby. Its offering plan tells you who shares the building, what's in the apartments and how the costs are split.

FAQ

Does The Prince have a gym or pool?

No. The plan lists no gym, pool or lounge for residents. The resident amenities are a rear yard of about 10,654 square feet, terraces on the 2nd and 6th floors, a rentable bike room and a package room. A cellar fitness center is listed as hotel space.

Is there parking at The Prince?

Yes, but it isn't sold with the homes. A separately owned attended garage has 189 spaces in the two sub-cellars, and at least 84 of them must be offered to residents at market rates.

Will residents share the building with the hotel?

The 208-room hotel on floors 1 to 5 has its own entrance, lobby and elevators, and the plan says residents won't share space with it. The hotel owner does appoint one of the seven board members and pays about $244,000 of the first-year budget.

Where this comes from: the building's offering plan (CD220101) as filed with the New York Attorney General, including its Special Risks, Description of Property and Improvements, Non-Residential Units, Schedules A and B, Board of Managers, Identity of Parties and the architect's Description of Property and Specifications. Prices are the sponsor's offering prices, not sales, and budget figures are the sponsor's first-year projections. Later amendments may change them. Updated October 2026.