Jorge Garcia, John Pantanelli pay $12M for industrial in Sunnyside

Jorge Garcia and John Pantanelli through the entity 4141 Group LLC paid $12 million to Joshua L. Goldman through the entity 41-41 38th Street LLC for the industrial building (E1) at 41-38 38th Street in Sunnyside, Queens. The expected use is cash flowing.
The deal closed on July 22, 2025 and was recorded on August 7, 2025. The property has 35,349 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $339 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 Joshua L. Goldman was Joshua L. Goldman. The signatory for Jorge Garcia and John Pantanelli was Jorge Garcia. The contract date was March 14, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Jorge Garcia had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Joshua L. Goldman had not purchased any other properties and had not sold any properties over the same time period. The 35,349-square-foot property generated revenue of $668,158 or $19 per square foot, according to the most recent income and expense figures.

The property

The industrial building in Sunnyside has 35,349 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 98 feet and is 180 feet deep with a total lot size of 17,640 square feet. The zoning is M1-4 which allows for up to 2 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $3.8 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 $50 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 Sunnyside, The bulk, or 32 percent of the 15.9 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 29 percent of the space. In sales, Sunnyside has had very little sales volume relative to other neighborhoods with $154.8 million in sales volume in the last two years. For development, Sunnyside has had very little major development activity relative to other neighborhoods.It had 667,952 square feet of commercial and multi-family construction under development in the last two years, which represents 4 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of four of the nine commercial properties representing 150,349 square feet of the 201,651 square feet. The largest owner is Anila Celi, followed by Joshua L. Goldman and then Djahangir Torkian.
There are no active new building construction projects on this tax block.

All properties are industrial.

The seller

The PincusCo database currently indicates that Joshua L. Goldman owned at least one commercial property in New York City with 35,349 square feet and a city-determined market value of $3.5 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single industrial property. It is located in Queens.

The buyer

The PincusCo database currently indicates that John Pantanelli owned at least one commercial property with 83 residential units in New York City with 63,935 square feet and a city-determined market value of $4.3 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property. It is located in Manhattan.

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