THE CONDO BOOK PROJECT

Connexion

36-18 Main Street, Queens, NY 11354

Compare

Overview

Connexion is a condo in Queens, with 9 commercial units.

  • Offering plan: Accepted August 2018 · 352 pages
  • Prices: $1,634 a square foot on average, as first offered; $63.9 million in all
  • Common charges: $902–$1,275 a month, the sponsor's first-year estimate
  • Utilities: Electricity paid by the owner; water and sewer in the common charges p. 40
  • Sponsor: Ca Plaza LLC, represented by Sichenzia Ross Ference LLP; principals Ki Tai Yeung and Xiao Jun Chen
  • Neighborhood: Flushing, Queens
  • Subway: 5-minute walk to Flushing-Main St (7)
  • Amendments: 10, the latest in August 2026
  1. AcceptedAugust 2018
  2. 10 amendments
  3. First sale
  4. Latest sale

Sales

8 of 28 units sold (29%)

$15.8 millionin sales
$1,570/SFaverage sale price
May 2022 – February 2023first to latest sale
UnitSoldPrice
M8-2Feb 7, 2023$3,980,000
M8-5Feb 7, 2023$3,980,000
M9-2Aug 30, 2022$7,769,818
M9-3Aug 30, 2022$7,769,818
M9-4Aug 30, 2022$7,769,818
M9-5Aug 30, 2022$7,769,818
M7-2May 10, 2022$2,312,079
M7-5May 10, 2022$1,753,327
Every sale: 8 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.

HomePlan's estimateFirst yearCurrent
M5-2$912$11,687FY2024$12,822FY2026
M5-3$972$12,453FY2024$13,662FY2026
M5-4$867$11,112FY2024$12,191FY2026
M5-5$688$8,813FY2024$9,669FY2026
M6-2$912$11,687FY2024$12,822FY2026
M6-3$972$12,453FY2024$13,662FY2026
M6-4$867$11,112FY2024$12,191FY2026
M6-5$688$8,813FY2024$9,669FY2026
M7-2$912$11,687FY2024$12,822FY2026
M7-3$972$12,453FY2024$13,662FY2026
M7-4$867$11,112FY2024$12,191FY2026
M7-5$688$8,813FY2024$9,669FY2026
M8-2$912$11,687FY2024$12,822FY2026
M8-3$972$12,453FY2024$13,662FY2026
M8-4$867$11,112FY2024$12,191FY2026
M8-5$688$8,813FY2024$9,669FY2026
M9-2$912$11,687FY2024$12,822FY2026
M9-3$972$12,453FY2024$13,662FY2026
M9-4$867$11,112FY2024$12,191FY2026
M9-5$688$8,813FY2024$9,669FY2026
M10-2$912$11,687FY2024$12,822FY2026
M10-3$972$12,453FY2024$13,662FY2026
M10-4$867$11,112FY2024$12,191FY2026
M10-5$688$8,813FY2024$9,669FY2026
M11-2$912$11,687FY2024$12,822FY2026
M11-3$972$12,453FY2024$13,662FY2026
M11-4$867$11,112FY2024$12,191FY2026
M11-5$688$8,813FY2024$9,669FY2026

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
$2,500Paid by the purchaser to the sponsor's attorneys for the closingp. 72
Counsel's extra charges
  • $500: closing outside counsel's officep. 73
  • $500: adjourned closingp. 73
  • $250: preparation of ACRIS transfer documentsp. 73
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. 133
Working capital
$1,000Contribution to the condominium's working capital fundp. 72
Deed recording fee
$235p. 70
Power of attorney recording fee
$100p. 70
Mortgage recording fees
$100p. 71

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

All 9 closing costs in the plan, with their pagesGet Full Access

Amendments

Amendment 9 Sep 2, 2025

Amendment updates unit prices, confirms sponsor's financial status and pending litigation resolutions, and extends the offering plan for twelve months.

  • Prices revised for 20 units (M5-2 through M11-5), ranging from $1,753,200 to $2,700,133
  • Three breach of contract lawsuits discontinued (M&B Zhou LLC, B&M Zhou LLC, Kay & Huey LLC) as of June 2025
  • New eviction lawsuit filed against tenant for unpaid rent and Common Charges (June 26, 2025)
  • Final Certificate of Occupancy expected on or about December 1, 2026
  • Sponsor's monthly rent income from retail and community facility units is $58,125.89
  • Sponsor has paid $923,368.06 in real estate taxes for unclosed units
  • Sponsor's monthly obligations for unclosed units: approximately $60,061.10 common charges plus $316,311.92 debt service
  • Offering plan valid for twelve months from amendment filing date
  • Schedule A prices decreased for 20 homes (median -12.9%): M5-2 $2,592,000 → $2,465,280; M5-3 $2,950,063 → $2,856,960; M5-4 $2,937,480 → $2,356,480; M5-5 $1,965,600 → $1,870,080; ...

Amendment 7 Jun 21, 2023

Eight community facility units closed, sponsor delaying common charges collection until approximately October 1, 2023, and final certificate of occupancy anticipated January 1, 2024.

  • Eight units closed as of May 9, 2023: M7-2, M7-5, M8-2, M8-5, M9-2, M9-3, M9-4, M9-5
  • Sponsor delaying collection of common charges; will provide all first-year services at sponsor's expense
  • Common charges collection anticipated to commence on or about October 1, 2023
  • Final certificate of occupancy anticipated on or about January 1, 2024
  • Two mortgages with Cathay Bank: hotel/retail unit $31,000,000 at 8.0%, community facility units $16,798,900 at 8.0%, both maturing June 13, 2023
  • Sponsor refinancing both loans
  • Board of managers: Ping Yeung (President), Qiu Hui Lin (Vice President), Michael Luo (Secretary/Treasurer), all sponsor-affiliated
  • Plan valid for 12 months from amendment filing date
  • Schedule A prices increased for 20 homes (median +15.0%): M5-2 $2,465,280 → $2,592,000; M5-3 $2,856,960 → $2,950,063; M5-4 $2,356,480 → $2,937,480; M5-5 $1,870,080 → $1,965,600; ...

Amendment 6 Nov 16, 2022

Amendment updates building closing status, discloses four pending breach of contract lawsuits, revises common charges policy, and provides current financing and tenant information.

  • First closings occurred May 10, 2022 for units M7-2 and M7-5
  • Temporary Certificate of Occupancy issued November 1, 2022, expires January 30, 2023
  • Four units in contract, all subject to pending litigation
  • Common charges waived for 6 months from amendment acceptance; Unit Owners Paid Waiver Period
  • Four breach of contract lawsuits disclosed: M&B Zhou LLC, B&M Zhou LLC, Kay & Huey LLC, Hoisom LLC
  • Three commercial rental tenants; Sponsor receives $41,464.00 monthly rent as of October 26, 2022
  • Two Cathay Bank loans: $16,798,900.80 (maturity April 13, 2024) and $31,000,000 (maturity April 13, 2023)

Amendment 5 2022

Building received temporary occupancy certificate; sponsor in contract for 10 of 27 unsold units with updated prices and first closing moved to August 1, 2022.

  • Temporary Certificate of Occupancy issued March 17, 2022
  • Sponsor in contract for 10 of 27 unsold units
  • First unit closing date moved to August 1, 2022
  • Condominium operation start date moved to August 1, 2022
  • Schedule of unsold units with prices ranging from $1,965,600 to $3,014,427.50
  • First year budget unchanged; certified by G Buddy, Inc.
  • Plan valid for six months from amendment filing date

Amendment 4 October 2021

Amendment updates closing date to December 1, 2021, revises transfer tax calculations, and adjusts first-year budget to new commencement date.

  • First closing moved to December 1, 2021; first year of condominium operation begins December 1, 2021
  • Sponsor in contract for sale of 9 of 27 unsold units
  • Building awaiting final inspections; temporary certificate of occupancy anticipated by December 1, 2021
  • First closing rescission right extended to June 6, 2024 due to COVID-19 Executive Order tolling period
  • First-year budget revised for December 1, 2021 to November 30, 2022 period
  • Transfer tax calculations updated: NYSTT 0.4% or 0.65%, NYCRPTT 1.425% or 2.625%, plus new NYCABT tax
  • Sponsor transfers statutory obligation to pay all transfer taxes to purchaser

Amendment 3 2020

Amendment updates closing timeline to November 1, 2020, offers rescission to early purchasers due to delays, updates sponsor address and unit dimension definitions.

  • First unit closing moved from December 1, 2018 to November 1, 2020
  • Temporary Certificate of Occupancy expected by June 1, 2020
  • Condominium operation start date set to November 1, 2020
  • 10 of 27 unsold units under contract; 17 units remain for sale
  • Rescission offered to 7 purchasers with contracts before October 21, 2019
  • Sponsor address changed to 51-01 Grand Avenue, Maspeth New York 11378
  • Unit dimension description amended in Schedule A footnote 2 and Schedule G-5
  • Legal representation transferred to Moritt Hock & Hamroff LLP

Amendment 1 Oct 2, 2018

Amendment updates unit prices and provides revised Schedule A with estimated first-year common charges and real estate taxes.

  • Several unit prices increased effective as of amendment date
  • Prices unchanged for units currently under contract
  • Updated Schedule A showing estimated individual expenses for period December 1, 2018 to November 30, 2019
  • Schedule A includes 42 units with monthly common charges and real estate tax estimates
What each amendment changed, line by lineGet Full Access

Team

Sponsor
Ca Plaza LLC
Principals
Ki Tai Yeung, Xiao Jun Chen
Tax estimate
Moseson & Associates Corp.Prepared the first-year real estate tax projection
Construction lender
Cathay BankLender on the mortgage and building loan agreement recorded August 2015 in ACRIS; $93 million recorded
General contractors
W & L Group Construction, Front Wave Construction*Held the general construction permit on DOB job 401816923
Property report
JWC Architect Engineer D.P.C.Prepared the plan's description of the property and its condition · Named on p. 124
Title agency
Federal Standard AbstractThe sponsor's title company for buyers; you can choose another · Named on p. 66

Zoning

Zoning districts
C4-3, C4-2The lot is split between two districts, the largest share first

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

Nearby