Family of Verdi’s catering hall pays $7.3M for 38-unit walkup in Astoria

The family of Verdi’s catering hall represented by Giovanni Sacco through the entity VDI Land Corp. paid $7.3 million to the Rizzuto and Battiggi families through the entity Battiggi Asset Management Trust for the 38-unit residential walkup building (C1) at 29-06 Crescent Street in Astoria, Queens. The expected use is cash flowing.
The deal closed on October 8, 2025 and was recorded on October 14, 2025. The property has 29,480 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $247 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 Morena Rizzuto and Albino Battiggi was Morena Rizzuto and Albino Battiggi. The signatory for Giovanni Sacco was Giovanni Sacco. The contract date was September 12, 2025. The Sacco family owns Verdi’s, an event hall space in Whitestone.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Giovanni Sacco had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Morena Rizzuto had not purchased any other properties and had not sold any properties over the same time period. The 29,480-square-foot property generated revenue of $818,993 or $28 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 38 residential units in Astoria has 29,480 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 93 feet deep with a total lot size of 9,313 square feet. The zoning is R6A which allows for up to 3 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $3.5 million. The property has 18 rent regulated units according to city tax records from 2023.

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 $1,250 in ECB penalties, five housing violations, and $1,250 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 block

On this tax block, PincusCo has identified the owners of nine of the 19 commercial properties representing 88,836 square feet of the 180,974 square feet. The largest owner is Karan Singh, followed by Nicolaos Sakellis and then Ana Korkis.
There are no active new building construction projects on this tax block.

The majority, or 95 percent of the 180,974 square feet of built space are walkup buildings, with mixed-use buildings next occupying 5 percent of the space.

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