Anthos Properties pays $18.2M to Domain for 96-unit rental in Jackson Heights

The Anagnostopoulos family’s Anthos Properties through the entity NA 81 LLC paid $18.2 million to Domain Companies through the entity Turnbury Village LLC for the 96-unit residential elevator building (D1) at 35-30 81st Street in Jackson Heights, Queens. The expected use is cash flowing.

The buyers financed the purchase in part by assuming a $10.2 million loan from JPMorgan Chase.
The deal closed on June 10, 2025 and was recorded on June 20, 2025. The property has 91,000 square feet of built space and 265 square feet of additional air rights for a total buildable of 91,160 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $200 and the price per buildable square foot is $199 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 November 30, 2006, for $14 million. The signatory for Domain Companies was Chris Papamichael . The signatory for Anthos Properties was Apostolos Anagnostopoulos . The contract date was March 21, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Anthos Properties had purchased any other properties and has no record it sold any properties over the past 24 months.
The former owners according to the Department of Housing Preservation and Development includes Peter Papamichael, head officer and Constantine Papamichael, officer. The business entity is Turnbury Village Llc. The 91,000-square-foot property generated revenue of $2.1 million or $23 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 96 residential units in Jackson Heights has 91,000 square feet of built space and 265 square feet of additional air rights for a total buildable of 91,160 square feet according to a PincusCo analysis of city data. The parcel has frontage of 265 feet and is 100 feet deep with a total lot size of 26,500 square feet. The zoning is R7-1 which allows for up to 3.44 times floor area ratio (FAR) for residential. The property is in the Jackson Heights Historic District. The city-designated market value for the property in 2022 is $10.6 million. The most recent loan totaled $11.5 million and was provided by JPMorgan Chase on December 13, 2019. The property has 93 rent regulated units according to city tax records from 2023.

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 received three housing violations and $100 in OATH penalties 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 two of the four commercial properties representing 189,492 square feet of the 327,120 square feet. The two identified owners are A&E Real Estate Holdings and Constantine Papamichael.
There are no active new building construction projects on this tax block.

All properties are elevator.

The seller

The PincusCo database currently indicates that Domain Companies owned at least 16 commercial properties with 904 residential units in New York City with 1,761,021 square feet and a city-determined market value of $23.8 million. (Market value is typically about 50% of actual value.) The portfolio has $404.2 million in debt, with top three lenders as JLL, PNC Bank, and Carmel Partners respectively. Within the portfolio, the bulk, or 97 percent of the 1,761,021 square feet of built space are elevator properties, with industrial properties next occupying 3 percent of the space. The bulk, or 97 percent of the built space, is in Bronx, with Brooklyn next at 3 percent of the space.

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