Constantine Dionysiou pays $5.5M to Montperia Group for retail in Bayside

Constantine Dionysiou through the entity Agios Dimitrios LLC paid $5.5 million to Montperia Group through the entity Bayside 88 Corp. for the retail building (K1) at 32-61 Francis Lewis Blvd in Bayside, Queens.
The deal closed on March 24, 2026 and was recorded on April 3, 2026. The property has 4,632 square feet of built space and 3,504 square feet of additional air rights for a total buildable of 8,156 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,198 and the price per buildable square foot is $680 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 Montperia Group was Alex Lau . The signatory for Constantine Dionysiou was Constantine C. Dionysiou . The contract date was October 1, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Constantine Dionysiou had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Montperia Group had not purchased any other properties and had not sold any properties over the same time period. The 4,632-square-foot property generated revenue of $249,228 or $54 per square foot, according to the most recent income and expense figures.

The property

The retail building in Bayside has 4,632 square feet of built space and 3,504 square feet of additional air rights for a total buildable of 8,156 square feet according to a PincusCo analysis of city data. The parcel has frontage of 87 feet and is 64 feet deep with a total lot size of 6,042 square feet. The lot is irregular. 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 $1.4 million.

Transaction Participants

John E. Halkias participated in the transaction on behalf of the buyer.

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 neighborhood

In Bayside, The bulk, or 42 percent of the 6.9 million square feet of commercial built space are specialty buildings, with walkup buildings next occupying 18 percent of the space. In sales, Bayside has had very little sales volume relative to other neighborhoods with $111.6 million in sales volume in the last two years. For development, Bayside has had very little major development activity relative to other neighborhoods.It had -746,266 square feet of commercial and multi-family construction under development in the last two years, which represents -10.88 percent of the neighborhood’s built space.

The block

There are no active new building construction projects on this tax block.

The majority, or 88 percent of the 31,804 square feet of built space are retail buildings, with mixed-use buildings next occupying 12 percent of the space.

The seller

The PincusCo database currently indicates that Montperia Group owned at least six commercial properties with two residential units in New York City with 168,445 square feet and a city-determined market value of $23.9 million. (Market value is typically about 50% of actual value.) The portfolio has $45 million in debt, borrowed from Fiona Wu and Ponce Bank. Within the portfolio, the bulk, or 55 percent of the 168,445 square feet of built space are hotel properties, with specialty properties next occupying 44 percent of the space. They are all located in Queens.

The buyer

The PincusCo database currently indicates that Constantine Dionysiou owned at least two commercial properties with 12 residential units in New York City with 8,760 square feet and a city-determined market value of $2.9 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are walkup properties. They are all located in Queens.

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