THE CONDO BOOK PROJECT

3j Condominium

42-10 147th Street, Queens, NY 11355

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Overview

3j is a new 10-unit condo in Queens.

  • Offering plan: Accepted October 2023 · 328 pages
  • Finishes: 9-foot ceilings, hardwood floors, GE appliances, a washer and dryer in each apartment, Delta bathroom fittings and split-system units for heating and cooling
  • Prices: $946 a square foot on average, as first offered; $6.8 million in all
  • Common charges: $430–$728 a month, the sponsor's first-year estimate
  • Utilities: Electricity paid by the owner; gas in the common charges p. 195
  • Sponsor: J & J 147 Realty LLC, represented by Lawrence Lixin Yang, P.C.; principals Jianfeng Lin
  • Neighborhood: Flushing, Queens
  • Subway: 15-minute walk to Flushing-Main St (7)
  • Amendments: 2, the latest in April 2025
  1. AcceptedOctober 2023
  2. 2 amendments
  3. First sale
  4. Latest sale

Sales

5 of 10 units sold (50%)

$3 millionin sales
$818/SFaverage sale price
February 2024 – September 2025first to latest sale
UnitSoldPrice
3BSep 15, 2025$687,319
2AOct 11, 2024$384,248
1BSep 13, 2024$529,490
5AMay 15, 2024$722,958
4BFeb 6, 2024$672,045
Every sale: 5 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 10 homes.

Plan's estimate
$4,400 a year per homeSchedule A, as first filed
Full tax, FY2025
$9,160 a year per homeBefore any tax break; 108% more than the estimate
Billed, FY2025
$9,160 a year per home108% more than the estimate

Checked against the first full year's bill for 10 homes: 1 within 10% of the plan's estimate, 9 paid more. The typical home paid 140% more than estimated.

HomePlan's estimateFirst yearCurrent
1A$5,175$5,458FY2025$5,696FY2026
1B$6,503$8,057FY2026$8,057FY2026
2A$3,841$10,373FY2025$10,827FY2026
2B$3,845$9,227FY2025$9,630FY2026
3A$3,887$10,373FY2025$10,827FY2026
3B$3,883$9,227FY2025$9,630FY2026
4A$3,890$10,373FY2025$10,827FY2026
4B$3,885$9,227FY2025$9,630FY2026
5A$4,209$10,373FY2025$10,827FY2026
5B$4,914$9,227FY2025$9,630FY2026

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

Compare

FigureThis building1Lian Feng211 units · 0.2 miaccepted 2023Blossom Garden38 units · 0.7 miaccepted 2024
Common ChargesPer Square Foot / Month$0.69Highest$0.47$0.55
Average Offering PricePer Apartment$680,000In line$846,350$612,500
Average PricePer Square Foot$946Below peers$955$1,010
Average Unit SizeSquare Feet719 SFIn line886 SF606 SF
Unit mix, amenities, finishes, utilities and operating costs against Lian Feng and Blossom GardenUnlock the rest with a free account
How We Got This
  • Comps: the closest Queens plans on size, $/SF and launch date, within 2 miles when possible.
  • Figures: each building's own offering plan, filed with the NY Attorney General. Nothing is estimated.
  • Checked: a price list publishes only when its math adds up, and building pages cite the plan pages.
  • Labels: In line is between the comps; Below/Above peers is past both by up to 15%; Lowest/Highest by more.

Closing Costs

The buyer pays the NYC and NY State transfer taxes, which a seller usually pays.

Sponsor's counsel fee
“$1,500.00 for a residential unit or a parking space unit”Paid by the purchaser to the sponsor's attorneys for the closingp. 13
Counsel's extra charges
  • $350.00: closing outside counsel's officep. 13
  • $350.00: assistance with mortgage applicationp. 13
  • $350.00 for each: assignment or amendment of Purchase Agreementp. 13
  • 50% of counsel fee ($875.00 with mortgage assistance, $750.00 without): termination or cancellation of Purchase Agreementp. 13
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 7 closing costs in the plan, with their pagesGet Full Access

Amendments

Amendment 2 Apr 21, 2025

Second amendment extends the offering plan term by six months and discloses post-closing status including four closed units, six unsold units, and condominium legal filings.

  • Offering plan term extended by six months from filing date
  • Four of ten residential units have closed; first closing March 5, 2025
  • Six units remain unsold: 1A, 1B, 2B, 3A, 5A, 5B; two units currently in contract
  • Final Certificate of Occupancy issued June 24, 2024
  • Declaration of Condominium recorded January 15, 2025
  • Working capital fund $1,734.49 deposited with East West Bank; escrow $9,855.34 held by Lawrence Lixin Yang, P.C.
  • Jianfeng Lin (Sponsor principal) is current Board member and will relinquish control within 30 days after last unit closes or two years from first closing

Amendment 1 Nov 15, 2024

Sponsor declares the offering plan effective after securing purchase agreements for two units representing 15% of units offered.

  • Offering plan declared effective by sponsor on November 15, 2024
  • Two units under contract (3B and 4A) meet the 15% threshold requirement
  • No closings will occur until amendment is accepted for filing by the OAG
What each amendment changed, line by lineGet Full Access

Team

Sponsor
J & J 147 Realty LLC
Principals
Jianfeng Lin
Tax estimate
Lawrence Lixin Yang, P.C.Prepared the first-year real estate tax projection
General contractor
Tjar GroupHeld the general construction permit on DOB job 440667155
Property report
Li Architect Associate, PLLCPrepared the plan's description of the property and its condition · Named on p. 126
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. 75

Zoning

Zoning district
R6A

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

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