Ioannis Likidis pays $3.8M for 8-unit walkup in LIC

Ioannis Likidis through the entity 47 Vernon LLC paid $3.8 million to Andrew Anzalone through the entity 47-27 Vernon Blvd LLC for the eight-unit residential walkup building (C7) at 47-27 Vernon Blvd in Long Island City, Queens. The expected use is cash flowing.
The deal closed on April 17, 2026 and was recorded on April 24, 2026. The property has 8,050 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $465 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 Andrew Anzalone was Andrew Anzalone. The signatory for Ioannis Likidis was Ioannis Likidis. The contract date was December 4, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Ioannis Likidis purchased five properties in four transactions for a total of $25.2 million and has no record it sold any properties over the past 24 months.
The seller Andrew Anzalone had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Andrew Anzalone, head officer and Rosemary Anzalone, officer. The business entity is 47-27 Vernon Blvd Llc.

The property

The residential walkup building with 8 residential units in Long Island City has 8,050 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,500 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 $1.8 million. The property has 8 rent regulated units according to city tax records from 2024.

Transaction Participants

Alex Thomaidis at Thomaidis & Lagoudis, P.C. participated in the transaction on behalf of the buyer.

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

On this tax block, PincusCo has identified the owners of 20 of the 27 commercial properties representing 98,631 square feet of the 140,401 square feet. The largest owner is George Pavlou, followed by Peter Jakobson and then Andrew Anzalone.
There are no active new building construction projects on this tax block.

The majority, or 51 percent of the 140,401 square feet of built space are walkup buildings, with industrial buildings next occupying 26 percent of the space.

The seller

The PincusCo database currently indicates that Andrew Anzalone owned at least one commercial property with eight residential units in New York City with 8,050 square feet and a PincusCo-determined asset value of $3.8 million. The portfolio consists of at least a single walkup property.

The buyer

The PincusCo database currently indicates that Ioannis Likidis owned at least 15 commercial properties with 41 residential units in New York City with 86,868 square feet and a PincusCo-determined asset value of $47.7 million. The portfolio has $4.5 million in debt, borrowed from JPMorgan Chase. Within the portfolio, the bulk, or 36 percent of the 86,868 square feet of built space are mixed-use properties, with walkup properties next occupying 28 percent of the space.

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