Emin Bojadzic pays $4.7M for 20-unit walkup in Astoria
Emin Bojadzic through the entity Broadway 42nd Street, LLC paid $4.7 million to Uwe Greggersen through the entity Kissena Realty Corp. for the 20-unit residential walkup building (C1) at 32-37 42nd Street in Astoria, Queens.
The deal closed on January 12, 2024 and was recorded on January 24, 2024. The property has 14,540 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $323 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 Uwe Greggersen was Uwe Greggersen. The signatory for Emin Bojadzic was Emin Bojadzic. The contract date was December 12, 2023.
Prior sales and revenue
Prior to this transaction, PincusCo has no record that the buyer Emin Bojadzic had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Uwe Greggersen had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Uwe Greggersen, head officer and Christel Greggersen, officer. The business entity is Kissena Realty Corp.
The property
The residential walkup building with 20 residential units in Astoria has 14,540 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 50 feet and is 100 feet deep with a total lot size of 4,999 square feet. The zoning is R5 which allows for up to 1.25 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.9 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 one of the 15 commercial properties representing 3,300 square feet of the 119,991 square feet. The identified owner is Louis Chicca.
There are no active new building construction projects on this tax block.
The majority, or 74 percent of the 119,991 square feet of built space are walkup buildings, with mixed-use buildings next occupying 20 percent of the space.
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