Environmental Services Group pays $2.8M to Modern Art Foundry for industrial in Ditmars Steinway

Environmental Services Group through the entity Stavlos Properties LLC paid $2.8 million to Modern Art Foundry through the entity Modern Art Foundry, Inc. for the industrial building (F4) at 18-70 41st Street in Ditmars Steinway, Queens. The expected use is owner-occupied.
The deal closed on April 20, 2026 and was recorded on April 22, 2026. The property has 12,400 square feet of built space and 2,016 square feet of additional air rights for a total buildable of 14,401 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $229 and the price per buildable square foot is $197 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 Modern Art Foundry was Jeffrey Spring . The signatory for Environmental Services Group was Lisa Javier . The contract date was December 20, 2019. The Modern Art Foundry acquired the property January 20, 1947, and now is located in Maspeth.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Environmental Services Group had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Modern Art Foundry had not purchased any other properties and had not sold any properties over the same time period. The 12,400-square-foot property generated revenue of $211,668 or $17 per square foot, according to the most recent income and expense figures.

The property

The industrial building in Ditmars Steinway has 12,400 square feet of built space and 2,016 square feet of additional air rights for a total buildable of 14,401 square feet according to a PincusCo analysis of city data. The parcel has frontage of 144 feet and is 100 feet deep with a total lot size of 14,401 square feet. The zoning is M1-1 which allows for up to 1 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $989,000.

Transaction Participants

Andrew D. Klapper at Klapper & Klapper, Pc 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 Ditmars Steinway, The bulk, or 41 percent of the 11.3 million square feet of commercial built space are walkup buildings, with industrial buildings next occupying 25 percent of the space. In sales, Ditmars Steinway has near average sales volume among other neighborhoods with $390.5 million in sales volume in the last two years and is the 5th highest in Queens. For development, Ditmars Steinway has had very little major development activity relative to other neighborhoods.It had 301,619 square feet of commercial and multi-family construction under development in the last two years, which represents 3 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of six of the 48 commercial properties representing 115,821 square feet of the 318,515 square feet. The largest owner is Seagis Property Group, followed by Philip Loria and then Westrock Development.
There are no active new building construction projects on this tax block.

The majority, or 94 percent of the 318,515 square feet of built space are industrial buildings, with office buildings next occupying 5 percent of the space.

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