Genovese Family Ent. signs $7.5M refi for mixed-use in Astoria

Genovese Family Enterprises as borrower signed a refi loan with lender Maspeth Federal Savings valued at $7.5 million for the mixed-use retail building (K4) at 30-97 Steinway Street in Astoria, Queens.
The deal closed on January 13, 2026 and was recorded on January 22, 2026. The prior lender was M&T Bank which held debt that had an original loan amount of $11.1 million.The property has 27,112 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $276 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 Genovese Family Enterprises was Tobias Gregory Caldwell . The signatory for Maspeth Federal Savings was Diana Rundo .

Prior sales, articles and revenue

The 27,112-square-foot property generated revenue of $1.7 million or $61 per square foot, according to the most recent income and expense figures.

The property

The mixed-use building in Astoria has 27,112 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 50 feet and is 190 feet deep with a total lot size of 14,000 square feet. The lot is irregular. 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 $9.9 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 received $1,400 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 2.7 times the average sales volume among other neighborhoods with $853.3 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 2.3 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.

The block

On this tax block, PincusCo has identified the owners of four of the 32 commercial properties representing 26,255 square feet of the 207,566 square feet. The two identified owners are Simkho Aranbayev and Bldg Management.
There are no active new building construction projects on this tax block.

The majority, or 66 percent of the 207,566 square feet of built space are mixed-use buildings, with retail buildings next occupying 25 percent of the space.

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