Gagnesh Giran pays $4.2M to Santander Bank for two retail buildings in New Dorp

Gagnesh Giran paid $4.2 million to Santander Bank for two retail bank locations across the street from one another in New Dorp, Staten Island, in two transactions.

In the larger, Gagnesh Giran through the entity 257 New Dorp Realty LLC paid $3 million to Santander Bank for the Santander Bank building (K7) at 257 New Dorp Lane, on the north side of the street, in New Dorp, Staten Island.
The deal closed on June 27, 2025 and was recorded on August 13, 2025. The property has 5,600 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $535 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.)

In the smaller transaction, Gagnesh Giran through the entity 260 New Dorp Realty LLC paid $1.2 million to Santander Bank for a drive-through teller and cash-station building and a parking lot at 260 New Dorp Lane, on the south side of the street, in New Dorp, Staten Island.
The deal closed on June 27, 2025 and was recorded on August 13, 2025. The property has 743 square feet of built space and 8,280 square feet of additional air rights for a total buildable of 9,000 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,615 and the price per buildable square foot is $133 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 Gagnesh Giran was Gagnesh Giran.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Gagnesh Giran had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Santander Bank had not purchased any other properties and had not sold any properties over the same time period. The 5,600-square-foot property generated revenue of $153,160 or $27 per square foot, according to the most recent income and expense figures.

The property

The mixed-use building in New Dorp has 5,600 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 60 feet and is 100 feet deep with a total lot size of 6,000 square feet. The zoning is R3-2 which allows for up to 0.5 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $706,000.

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

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

The majority, or 31 percent of the 80,476 square feet of built space are office buildings, with mixed-use buildings next occupying 29 percent of the space.

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