Gerasimos Amvrosiatos pays $3.4M for retail in Auberndale

Gerasimos Amvrosiatos through the entity 196-30 Northern LLC paid $3.4 million to Frank Rende through the entity Annamario Corp. for the retail building (K1) at 196-30 Northern Boulevard in Auberndale, Queens. The expected use is cash flowing.
The deal closed on June 23, 2025 and was recorded on July 14, 2025. The property has 3,170 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $1,072 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 Frank Rende was Frank Rende. The signatory for Gerasimos Amvrosiatos was Gerasimos Amvrosiatos. The contract date was June 23, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Gerasimos Amvrosiatos had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Frank Rende had not purchased any other properties and had not sold any properties over the same time period. The 3,170-square-foot property generated revenue of $135,525 or $43 per square foot, according to the most recent income and expense figures.

The property

The retail building in Auberndale has 3,170 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 40 feet and is 125 feet deep with a total lot size of 4,832 square feet. The lot is irregular. 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 $538,000.

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 neighborhood

In Auberndale, The bulk, or 33 percent of the 1.8 million square feet of commercial built space are specialty buildings, with mixed-use buildings next occupying 18 percent of the space. In sales, Auberndale has the 36th highest sale turnover among other neighborhoods in Queens with $25 million in sales volume in the last two years. For development, Auberndale has had very little major development activity relative to other neighborhoods.It had 22,179 square feet of commercial and multi-family construction under development in the last two years, which represents 1 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of one of the 11 commercial properties representing 2,397 square feet of the 12,567 square feet. The identified owner is James M. Inc..
There are no active new building construction projects on this tax block.

The majority, or 100 percent of the 12,567 square feet of built space are retail buildings, with development buildings next occupying 0 percent of the space.

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