Daniel Group signs $19.5M refi with Bank of America for 81-unit rental in Astoria

Daniel Group through the entity 30 Vernon LLC as borrower signed a refi loan with lender Bank of America valued at $19.5 million for the 81-unit residential elevator building (D8) at 11-05 30th Road in Astoria, Queens.
The deal closed on July 20, 2026 and was recorded on August 4, 2026. The prior lender was Kearny Bank which held debt that had an original loan amount of $27 million. The property has 84,000 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $232 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 owner bought the property on March 14, 2006, for $5.2 million. The signatory for Daniel Group was Joseph Cohen and Ilan Cohen . The signatory for Bank of America was Elizabeth Schiavone .

Prior sales, articles and revenue

The owners according to the Department of Housing Preservation and Development includes Joseph Cohen, head officer and Theodosis Neocli , site manager. The business entity is 30 Vernon Llc. The 84,000-square-foot property generated revenue of $2.9 million or $35 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 81 residential units in Astoria has 84,000 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 145 feet deep with a total lot size of 15,800 square feet. The lot is irregular. The zoning is R7A which allows for up to 4 times floor area ratio (FAR) for residential with inclusionary housing. The property has a 421A exemption that started in 2013 and expires in 2028. The city-designated market value for the property in 2022 is $16.1 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 received $500 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on July 20, 2015. 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 four of the 11 commercial properties representing 153,306 square feet of the 162,745 square feet. The largest owner is Daniel Group, followed by CC & Associates Consulting Inc and then Xiaoping Chang.
On the tax block, there was one new building construction project filed totaling 40,438 square feet. It is a 53-unit, 40,438 square-foot residential (R-2) building submitted by Christina Xiaoping Chang and filed by Christina Xiaoping Chang with plans filed November 18, 2025 and it has not been permitted yet.

The majority, or 84 percent of the 162,745 square feet of built space are elevator buildings, with retail buildings next occupying 7 percent of the space.

The borrower

The PincusCo database currently indicates that Daniel Group owned at least 46 commercial properties with 339 residential units in New York City with 414,124 square feet and a PincusCo-determined asset value of $152.2 million. Within the portfolio, the bulk, or 42 percent of the 414,124 square feet of built space are elevator properties, with walkup properties next occupying 24 percent of the space. The bulk, or 35 percent of the built space, is in Queens, with Bronx next at 27 percent of the space.

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