Emmanuel Sakatis pays $2M for mixed-use in Astoria

Emmanuel Sakatis through the entity Grexicans LLC paid $2 million to Louis Plevritis through the entity Sophia Realty Management LLC for the three-unit mixed-use building (S9) at 18-23 Astoria Blvd in Astoria, Queens. The expected use is cash flowing.
The deal closed on February 25, 2026 and was recorded on March 11, 2026. The property has 9,076 square feet of built space according to a PincusCo analysis of city data. The sale price per built 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 seller bought the property on November 30, 2010, for $1.4 million. The signatory for Louis Plevritis was Louis Plevritis. The signatory for Emmanuel Sakatis was Emmanuel Sakatis. The contract date was January 7, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Emmanuel Sakatis had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Louis Plevritis had not purchased any other properties and had not sold any properties over the same time period.

The property

The mixed-use building with 3 residential units in Astoria has 9,076 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 89 feet and is 51 feet deep with a total lot size of 2,245 square feet. The lot is irregular. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1.6 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 $450 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 neighborhood

In Astoria, The bulk, or 36 percent of the 40.2 million square feet of commercial built space are walkup buildings, with elevator buildings next occupying 31 percent of the space. In sales, Astoria has 2.5 times the average sales volume among other neighborhoods with $819.3 million in sales volume in the last two years and is the 2nd highest in Queens. For development, Astoria has 1.5 times the average amount of major developments relative to other neighborhoods and is the 5th highest in Queens. It had 2.4 million square feet of commercial and multi-family construction under development in the last two years, which represents 6 percent of the neighborhood’s built space. There were 23 pre-foreclosure suit filed among other mixed-use buildings in the past 12 months.

The block

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

All properties are mixed-use.

Direct link to Acris document. link