Argyro Livanos pays $2.5M for 11-unit walkup in Astoria

Argyro Livanos through the entity 2532 Steinway LLC paid $2.5 million to the entity T & T Steinway LLC for the 11-unit residential walkup building (C7) at 25-32 Steinway Street in Astoria, Queens. The expected use is cash flowing.
The deal closed on March 20, 2025 and was recorded on March 26, 2025. The property has 7,872 square feet of built space and 3,696 square feet of additional air rights for a total buildable of 11,550 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $323 and the price per buildable square foot is $220 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 signatory for Maria Papagiannakis was Maria Papagiannakis. The signatory for Argyro Livanos was Argyro Livanos. The contract date was November 27, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Argyro Livanos had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Maria Papagiannakis had not purchased any other properties and had not sold any properties over the same time period. The former owner according to the Department of Housing Preservation and Development is Maria Papagiannakis, head officer. The business entity is T&T Steinwayllc. The 7,872-square-foot property generated revenue of $243,344 or $31 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 11 residential units in Astoria has 7,872 square feet of built space and 3,696 square feet of additional air rights for a total buildable of 11,550 square feet according to a PincusCo analysis of city data. The parcel has frontage of 44 feet and is 95 feet deep with a total lot size of 3,850 square feet. The lot is irregular. The zoning is C4-2A which allows for up to 3 times floor area ratio (FAR) for commercial and up to 3 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1 million. The property has 11 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 $50 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 11 of the 54 commercial properties representing 151,666 square feet of the 346,994 square feet. The largest owner is Angela Sportelli, followed by Joseph Grgas and then Hang Dong Zhang.
There are no active new building construction projects on this tax block.

The majority, or 58 percent of the 346,994 square feet of built space are walkup buildings, with mixed-use buildings next occupying 32 percent of the space.

Direct link to Acris document. link