Platinum Realty pays $9.9M for office building in Astoria

Platinum Realty Associates through the entity 120-32 QB LLC paid $9.9 million to Steve Tenedios and Peter Iacovelli through the entity Pan-Metro Equities LLC for the office building (O2) at 36-09 38th Street in Astoria, Queens.
The deal closed on November 11, 2021 and was recorded on December 7, 2021.
The property has 20,277 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $488 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 sellers bought the property in 2016 for $9 million.
The signatory for Steve Tenedios and Peter Iacovelli was Steve Tenedios and Peter Iacovelli. The signatory for Platinum Realty Associates was David Koptiev.
(401245924)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on February 28, 2020.
David Koptiev is CEO at Platinum Realty Associates. 
Within a 400-foot radius of 36-09 38th Street, Pincusco identified two commercial real estate items of interests occurred over the past 24 months.
One of those two items was a sale which Goodman Group bought the 2,520-square-foot, one-unit retail building (G4) on 39-04 Northern Boulevard for $42.8 million from Bram Auto Group on December 2, 2021.
One of those two items was a loan which Tom Thomas borrowed $5.0 million from JPMorgan Chase secured by the 16,200-square-foot, 23-unit rental (C7) on 40-04 36th Avenue on April 30, 2020.

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