Andrew Gonchar pays $5.5M for retail in St. George

Andrew Gonchar through the entity Victory Group Holdings LLC paid $5.5 million to Joseph K. Robles through the entity Victory 25 LLC for the retail building (O5) at 25 Victory Boulevard in St. George, Staten Island.
The deal closed on August 1, 2023 and was recorded on August 22, 2023. The property has 13,497 square feet of built space and 1,346 square feet of additional air rights for a total buildable of 14,871 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $407 and the price per buildable square foot is $369 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The seller bought the property on December 18, 2014, for $4.3 million. The signatory for Joseph K. Robles was Joseph K. Robles. The signatory for Andrew Gonchar was Andrew Gonchar. The contract date was June 1, 2022.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Andrew Gonchar had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Joseph K. Robles had not purchased any other properties and had not sold any properties over the same time period.

The property

The retail building in St George has 13,497 square feet of built space and 1,346 square feet of additional air rights for a total buildable of 14,871 square feet according to a PincusCo analysis of city data. The parcel has frontage of 51 feet and is 70 feet deep with a total lot size of 6,120 square feet. The lot is irregular. The zoning is C4-2 which allows for up to 3.4 times floor area ratio (FAR) for commercial and up to 2.43 times FAR for residential. The city-designated market value for the property in 2022 is $3.4 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has not received any significant violations in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of 11 of the 24 commercial properties representing zero square feet of the 430,783 square feet. The identified owner is Leser Group.
There are no active new building construction projects on this tax block.

The majority, or 87 percent of the 430,783 square feet of built space are specialty buildings, with mixed-use buildings next occupying 5 percent of the space.

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