Pears brothers buy unsold co-ops from RockFarmer Properties valued at $14M in Astoria

The billionaire Pears brothers of England through the entity Tremada Astoria LLC acquired an interest from RockFarmer Properties through the entity Astoria Place Holdings LLC valued at $14 million for 50 units in the 44-unit co-op (C6) at 24-75 38th Street in Astoria, Queens, the 44-unit co-op (C6) at 24-51 38th Street in Astoria, Queens, and 44-unit co-op (C6) at 24-65 38th Street in Astoria, Queens.
PincusCo was the first real estate publisher to report on the Pears brothers and their acquisitions in New York City concentrated on unsold cooperative and condo units.
The deal closed on June 18, 2021 and was recorded on July 13, 2021.

This is 50 units at Astoria Lights. The buyer is an entity affiliated with the Pears brothers of England. The broker was Mark Zborovsky. The sale includes 50 co-ops, composed of 30 rent-regulated units and 20 free market units.

Within a 400-foot radius of 24-75 38th Street, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a permit issued on March 12, 2021 for the $306,375 renovation of 3,571-square-foot R-3 building with two residential units at 25-73 Steinway Street.

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