Leonardo Espinal pays $11M to Philip Giunta for grocery location in Ozone Park

Leonardo Espinal through the entity Ozone Dream Realty, LLC paid $11 million to Philip Giunta through the entity Chez Realty LLC for the grocery store retail building (K1) at 101-16 77th Street in Ozone Park, Queens, and two small adjacent properties.
The deal closed on January 22, 2026 and was recorded on February 11, 2026. The three properties have 18,000 square feet of built space and 56,150 square feet of additional air rights for a total buildable of 74,086 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $611 and the price per buildable square foot is $148 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 Philip Giunta was Philip Giunta. The signatory for Leonardo Espinal was Leonardo Espinal. The contract date was December 1, 2025.

Because multiple properties have been transacted, some of the following sections will follow the property with the largest assessed value, which in this case, is the property on 101-16 77th Street.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Leonardo Espinal had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Philip Giunta had not purchased any other properties and had not sold any properties over the same time period. Out of the three properties, one with a total of 18,000 square feet of built space generated revenue of $676,260 per year.

The property

The retail building in Ozone Park has 18,000 square feet of built space and 56,150 square feet of additional air rights for a total buildable of 74,086 square feet according to a PincusCo analysis of city data. The parcel has frontage of 182 feet and is 213 feet deep with a total lot size of 33,840 square feet. The lot is irregular. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $4.2 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received $1,000 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 Ozone Park, The bulk, or 28 percent of the 5.4 million square feet of commercial built space are mixed-use buildings, with industrial buildings next occupying 22 percent of the space. In sales, Ozone Park has the 25th highest sale turnover among other neighborhoods in Queens with $93.4 million in sales volume in the last two years. For development, Ozone Park has had very little major development activity relative to other neighborhoods.It had 198,873 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

There are no active new building construction projects on this tax block.

The majority, or 100 percent of the 18,000 square feet of built space are retail buildings, with development buildings next occupying 0 percent of the space.

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