Michael Siderakis pays $2.2M for 10-unit walkup in Astoria

Michael Siderakis through the entity 30-26 43 Street LLC paid $2.2 million to Anna Chlebak through the entity Oamb Corp. for the 10-unit residential walkup building (C1) at 30-26 43rd Street in Astoria, Queens.
The deal closed on March 30, 2023 and was recorded on April 6, 2023. The property has 5,019 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $448 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 Anna Chlebak was Anna Chlebak. The signatory for Michael Siderakis was Michael Siderakis.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Michael Siderakis had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Anna Chlebak 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 Anna Chlebak, head officer and Olga Shuter, officer. The business entity is Oamb Corp. The 5,019-square-foot property generated revenue of $109,766 or $22 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 10 residential units in Astoria has 5,019 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 27 feet and is 100 feet deep with a total lot size of 2,724 square feet. The zoning is R5 which allows for up to 1.25 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.2 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 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 eight of the 29 commercial properties representing 168,550 square feet of the 260,372 square feet. The largest owner is Wasyl Ciolka, followed by Olga Calos and then Nick Damoulakis.
There are no active new building construction projects on this tax block.

The majority, or 50 percent of the 260,372 square feet of built space are specialty buildings, with walkup buildings next occupying 42 percent of the space.

The seller

The PincusCo database currently indicates that Anna Chlebak owned at least one commercial property with 10 residential units in New York City with 5,019 square feet and a city-determined market value of None. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property. It is located in Queens.

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