George Tsilogiannis pays $9.8M to Ilias Theodoropoulos for retail in Astoria, nearly $3M below 2016 price

George Tsilogiannis through the entity Broadway 29, LLC paid Ilias Theodoropoulos’s Pan Metron LLC $9.8 million for 25-33 Broadway in Astoria. The deal closed on July 1, 2020, and was recorded on July 8, 2020. The transaction consists of 1 parcel, including the tax class one-story store building (K1). The property is 10,000 square feet.
The average sale price per square foot is $975.

The contract date was January 10, 2020. This is at least the second property Theodoropoulos sold this year. The first was in Flushing for $10 million. The last time the property sold was November 29, 2016, when Alrose Group sold it to Theodoropoulos for $12.5 million. Alrose Group, which had a lease on the building from 2014 to 2016, had purchased the property weeks earlier in November 2016 for $7.25 million.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link