Montperia Group pays $13M to Vision Enterprises Management for office in Bayside

Montperia Group through the entity Bayside 88 Corp. paid $13 million to Vision Enterprises Management through the entity P & L Associates, LLC for the office building (O2) at 42-40 Bell Boulevard in Bayside, Queens. The expected use is cash flowing.
The deal closed on April 28, 2026 and was recorded on May 5, 2026. The property has 61,620 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $210 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 Vision Enterprises Management was Leonard Zangas . The signatory for Montperia Group was Alex Lau . The contract date was February 12, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Montperia Group had purchased any other properties and sold two properties in two transactions for a total of $9.1 million over the past 24 months.
The seller Vision Enterprises Management had not purchased any other properties and sold seven properties in two transactions for a total of $17.9 million over the same time period. The 61,620-square-foot property generated revenue of $2.3 million or $38 per square foot, according to the most recent income and expense figures.

The property

The office building in Bayside has 61,620 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 183 feet and is 165 feet deep with a total lot size of 23,984 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 $11.4 million.

Transaction Participants

Keith Yung at Yung & Yung, PLLC 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 received $3,000 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 Bayside, The bulk, or 42 percent of the 6.9 million square feet of commercial built space are specialty buildings, with walkup buildings next occupying 18 percent of the space. In sales, Bayside has had very little sales volume relative to other neighborhoods with $109.4 million in sales volume in the last two years. For development, Bayside has had very little major development activity relative to other neighborhoods.It had -786,263 square feet of commercial and multi-family construction under development in the last two years, which represents -11.46 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of two of the 10 commercial properties representing 68,280 square feet of the 99,418 square feet. The two identified owners are Vision Enterprises Management and Michael Constantouris.
There are no active new building construction projects on this tax block.

The majority, or 64 percent of the 99,418 square feet of built space are office buildings, with mixed-use buildings next occupying 19 percent of the space.

The seller

The PincusCo database currently indicates that Vision Enterprises Management owned at least three commercial properties in New York City with 153,313 square feet and a PincusCo-determined asset value of $31.3 million. The portfolio has $23.4 million in debt, borrowed from Vision Enterprises Management. Within the portfolio, all identified are office properties.

The buyer

The PincusCo database currently indicates that Montperia Group owned at least six commercial properties with two residential units in New York City with 168,445 square feet and a PincusCo-determined asset value of $188.8 million. The portfolio has $45 million in debt, borrowed from Fiona Wu and Ponce Bank. Within the portfolio, the bulk, or 55 percent of the 168,445 square feet of built space are hotel properties, with specialty properties next occupying 43 percent of the space.

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