Halil Todic submits 19-unit condo plan in Ditmars Steinway

Halil Todic through the entity Astoria 2101 LLC as sponsor submitted a condominium plan to create 19 residential units and 3 commercial units in a building at 21-01 21st Street in Ditmars Steinway, Queens, called 21-01 21st Street Condominium. It was filed on September 28, 2022 with the New York State Attorney General. The filing does not yet report the sellout price.

On December 11, 2018, Jesse Leon of Astoria 2101 LLC submitted a new building construction project for a 19-unit, 22,788 square-foot R-2 (residential) building at the site. That plan was filed with the New York City Department of Buildings under job number 420664891 and was permitted on February 23, 2022. It calls for the construction of a three-story building.

The property

The 21-12 21 Avenue parcel has frontage of 125 feet and is 100 feet deep with a total lot size of 12,500 square feet. The zoning is R5B which allows for up to 1.35 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $875,000.The most recent loan totaled $16.8 million and was provided by Golden Bridge Funding on March 10, 2022.

Prior sales and revenue

The property is owned by Halil Todic.

Violations and lawsuits

According to city public data, the property has received $25 in OATH penalties in the last year.

There were no lawsuits or bankruptcies filed against the property since September of 2020.

The neighborhood

In Ditmars Steinway, the bulk, or 40 percent of the 11.3 million square feet of commercial built space are walkup buildings, with industrial buildings next occupying 25 percent of the space. In sales, Ditmars Steinway has near average sales volume among other neighborhoods with $209.1 million in sales volume in the last two years and is the 9th highest in Queens. For development, Ditmars Steinway has near average amount of major developments among other neighborhoods and is the 9th highest in Queens. It had 937,004 square feet of commercial and multi-family construction under development in the last two years, which represents 8 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of three of the seven commercial properties representing 115,148 square feet of the 121,860 square feet. The largest owner is City of New York, followed by Daniel Buffa and then Barry Leon. On the tax block, there was one new building construction project filed totaling 22,788 square feet. It is a 19-unit, 22,788 square-foot R-2 building developed by Jesse Leon with plans filed December 11, 2018 and permitted February 23, 2022.

The owner

The PincusCo database currently indicates that Halil Todic owned at least two commercial properties in New York City with 9,988 square feet and a city-determined market value of $1.6 million. (Market value is typically about 50% of actual value.) The portfolio has $6.5 million in debt, borrowed from Trevian Capital Holdings. Within the portfolio, the bulk, or 100 percent of the 9,988 square feet of built space are elevator properties, with development properties next occupying 0 percent of the space. They are all located in Queens.

The surrounding

Within a 400-foot radius of 21-12 21 Avenue, PincusCo identified one commercial real estate item of interests occurred over the past 24 months. It was a loan which Cammeby’s International Group borrowed $122.7 million from NewPoint Real Estate Capital secured by the 45,417-square-foot, 27-unit rental (C9) on 20-01 21st Avenue and 18 other properties on September 9, 2021.

Direct link to the property’s ACRIS page and link to DOB NOW portal.