62-54 97th Place (The Summit Condominium)
62-54 97th Place, Rego Park, NY 11374
BBL 4020827501 · BIN 4307724
- Year built
- 1988
- Type
- Condominium
- Units
- 206
- Floors
- 17
- Landmark
- No
- Amenities
- 24-hour doorman and concierge; live-in superintendent; fitness center with sauna; residents' lounge and rentable party room; attended enclosed garage with deeded spaces; central heating and cooling; private terraces on many lines
Every recorded sale at this building, 2003–2026
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf
- $736
- Listing discount
- 2.7%
- Recorded sales
- 160
- On record
- 2003–2026
Rego Park is a cooperative market — 73 percent of the recorded sale history against 15 percent condominium — and its trading is unusually diffuse, spread across 1,775 addresses with the ten busiest accounting for only about 16 percent of the volume. In that setting one 206-unit condominium tower does something no other building here does: it gives a deeded-ownership buyer a comparable set inside a single address, under a single board, where condominium comparables otherwise have to be assembled across scattered buildings of different vintages. The Summit is the largest condominium in Rego Park and its deepest single-address condominium record.
It is also an outlier in tenure terms. It went up in 1988 and closed its first units in the spring of 1989 — new construction sold new, not a conversion — into a neighborhood whose defining product is the postwar cooperative complex. It sits directly among them: the elevator co-op clusters around 97th and 98th Streets, including the deep sale record at 61-15 97th Street on the same block, are both its physical neighbors and its principal competition for the same buyer.
What separates it is optionality. A condominium here means no board interview, no financing ceiling, no debt-to-income test, purchase through an LLC or trust where the by-laws permit, pied-à-terre use, non-resident ownership, and subletting on terms far looser than any share corporation on these blocks will offer. That flexibility is the value proposition, and it is why the building draws investor and relocating-buyer interest the surrounding co-op stock cannot serve.
The counterweight belongs on the page rather than buried in it. Across 2016 to 2025 the Rego Park condominium tier rose about 27 percent nominally and lost roughly 5 percent in real terms, while the cooperative tier rose about 45 percent nominally and gained about 8 percent. The cheaper, more constrained tenure outperformed the freer one over the last full decade. A buyer paying a premium here is buying flexibility, not demonstrated relative appreciation.
Architecture and unit composition
Seventeen stories built to a floor area ratio of 4.16 on a 50,500-square-foot lot in an R7-1 district — taller and denser than the six- and eight-story postwar complexes around it, which is where the views come from. The upper floors set back and a large share of apartments carry private terraces; terrace lines and high-floor exposures are the two things that command a premium inside the building.
The mix is compact and normal for late-1980s new construction: the energy filing reports 309 bedrooms across 206 residences, about 1.5 per apartment, so studios and one-bedrooms make up the bulk of the stack with a two-bedroom tier above and a small penthouse group at the top. Central heating and cooling was original specification rather than retrofit — a real distinction from the through-wall and window units that dominate the neighboring co-op stock.
The mixed-use base is not incidental: the office, retail and enclosed parking below occupy it as separate condominium units, contributing common charges to the residential budget and meaning the governing documents cover more than an apartment building.
Building operations
Full service by Queens standards: 24-hour doorman, concierge desk, live-in superintendent, fitness center with sauna, residents' lounge and a rentable party room, and an attended enclosed garage where individual spaces are deeded rather than waitlisted. A deeded space is a separate condominium unit with its own deed, common charge and tax bill — it can be bought, sold and financed apart from the apartment, and an apartment listed without one is a materially different asset.
Capital and compliance posture is the diligence question. The building carries a C grade with an ENERGY STAR score of 67, site energy use intensity around 66 kBtu per square foot, and a dual-fuel plant burning natural gas with No. 2 fuel oil as a secondary source. Reported emissions intensity sits above the Local Law 97 threshold that steps down in 2030, and a 1988 dual-fuel plant in a mixed-use building is a more complicated compliance problem than a single-use residential building of the same size — the allocation between residential and commercial matters, and so does whether the board intends to drop the oil leg. It is also the age at which a late-1980s tower reaches its first full elevator modernization, façade cycle and roof replacement. Ask for the reserve balance, assessment history, the most recent audited statements, and which of that work has been done or scheduled.
Policy framework
Right of first refusal. Assume the condominium holds one until the by-laws say otherwise. It is standard and procedural rather than discretionary, and it adds a fixed waiting period to every contract. Confirm the notice period in writing.
Subletting, move-in fees and any pied-à-terre or LLC restrictions are not documented in materials on file. Condominium by-laws vary more than buyers expect on all three, and in a building with meaningful investor presence the sublet rules decide whether the apartment does what an investor bought it to do.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $78,888/yr
- Per unit / month range
- $0 – $32
Source: NYC LL84 benchmarking and PLUTO · The Roebling Research Library. City record last verified September 2026.
See full Local Law 97 analysis — emissions history, scenarios, methodology →Facade safety — Local Law 11
The latest available FISP filing classified the facade as Safe — no repairs were required at that inspection. Facade inspections run on a fixed five-year cycle; future inspection, repair, and any assessment decisions remain building-specific.
How to read this, and where it comes from
QEWI = Qualified Exterior Wall Inspector — the licensed engineer the city requires to sign the report (the independent expert, not the managing agent).
Penalties shown are amounts DOB assessed against filings on record across 2005–10 to 2020–25. The FISP dataset does not record whether they were paid, contested or remain open, so treat the figure as history rather than a current balance and confirm the building’s standing with the managing agent.
Source: NYC DOB facade filings (FISP) · The Roebling Research Library. City record last verified September 2026.
Recent sales
This is a condominium, so it prices per square foot — and it is one of the few Rego Park addresses where a per-foot argument is properly supported, since offering-plan square footage exists and the in-building comparable set is deep enough to sustain it. That is a real advantage over the surrounding cooperatives, which price per room off derived and often unreliable square footage.
Floor and exposure drive the internal spread first, and in a 17-story building surrounded by six- and eight-story stock the upper-floor view premium is larger than it would be in a taller neighborhood. Terrace presence and size come second, renovation state third, with original late-1980s kitchens and baths trading at a clear discount. Parking behaves differently from all three: because the space is separately deeded, underwrite it separately rather than folding it into a per-foot figure.
Read the all-in monthly rather than the common charge alone. Real estate taxes bill separately from common charges in a condominium — the opposite of the co-op maintenance line the rest of the neighborhood quotes — so a Summit apartment and a nearby co-op apartment with identical headline monthlies are not comparable until both are normalized, including the city's cooperative and condominium tax abatement where it applies. Market statements are indexed to the last complete year.
Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.
Recent closings at this building, curated by The Roebling Team research desk. Prices are the transfer amounts recorded with the NYC Department of Finance; apartment-level detail is checked against the building’s own file in The Roebling Research Library before publishing.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Aug 11, 2026 | 9N | 1 BR · 1 BA · 700 sf | $587,000 | $839/sf | -2.0% |
| Jul 24, 2026 | 15H | 1,132 sf | $800,000 | $707/sf | off-mkt |
| Jul 17, 2026 | 4G | 1 BR · 1 BA · 640 sf | $483,000 | $755/sf | -1.0% |
| Dec 9, 2025 | 3H | 2 BR · 2 BA · 1,150 sf | $730,000 | $635/sf | -6.4% |
| Sep 16, 2025 | 10L | 1 BR · 1 BA · 750 sf | $545,000 | $727/sf | -0.7% |
| Apr 10, 2025 | 4I | 2 BR · 2 BA · 1,000 sf | $685,000 | $685/sf | -2.0% |
| Apr 26, 2024 | PHC | 2 BR · 2 BA · 1,004 sf | $850,000 | $847/sf | -14.9% |
| Mar 8, 2024 | 6K | 1 BR · 1 BA · 659 sf | $515,000 | $781/sf | off-mkt |
Market read. Most recent trades (2026) cleared a median $736/sf across 3 sales. Median listing discount 2.7% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
Full closing history with price-per-square-foot over time, the complete retrade record, and every line that has traded.
Sales sourced from NYC Department of Finance recorded transfers (BBL 4-02082-7501) and verified listing data. Apartment-level facts (line, condition, asking-price context) curated and cross-verified by The Roebling Team research desk. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price; square footage from recorded condo declarations and offering plans.
What to know at The Summit
Confirm you are pricing 206 apartments, not 437 units. The larger city figure counts parking and commercial condominium units and distorts any per-unit calculation built on it.
Establish whether the apartment includes a deeded parking space, and price it separately. It is a distinct condominium unit with its own deed, common charge and tax bill.
Ask for the energy compliance plan, and for the by-laws governing the commercial and parking units. A C grade, a dual-fuel plant and a 2030 threshold above current reported intensity is the clearest identifiable future cost here; how the commercial units vote and what they contribute affects the residential budget for as long as you own.
Sellers: lead with what the co-ops across the street cannot offer — no board approval, no financing ceiling, sublet and pied-à-terre flexibility, deeded parking, documented square footage.
Comparable buildings
- 61-15 97th Street — the large elevator cooperative on the same block, one of the deepest sale records in Rego Park; the direct tenure comparison
- Park City Estates — the multi-building cooperative complex in the same 97th-and-98th-Street cluster
- Birchwood Towers (66-36 Yellowstone Boulevard) — 1964 cooperative complex with pool and grounds; the amenity comparison at cooperative terms
- 99-40 63rd Road — the busiest single address in the Rego Park record
- 110-11 Queens Boulevard (Kennedy House) — the largest full-service cooperative on the corridor, one neighborhood east
- 107-40 Queens Boulevard (Lane Towers) — 1965 doorman cooperative at the 71st Avenue subway
- 25-40 Shore Boulevard (Shore Towers) — the Astoria waterfront condominium; same absence of board risk
How to read the facts on this page. Items attributed to an offering plan describe the building as it was offered at that filing — unit mix, square footage, the amenity program as planned. They are not a statement about how the building operates today. Tax and compliance figures are sourced separately to current City records and carry their own dates. House rules, staffing and fee policy can change by board resolution without any public filing: treat every policy line here as a starting point for diligence and confirm it with the managing agent.
Considering a move at The Summit Condominium?
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