Salvatore Acquista pays $6M to estate for two walkups in Whitestone

Salvatore Acquista through the entity Calusa LLC paid $6 million to Vito Didonna estate for the three-unit building (C0) at 150-27 14th Road in Whitestone, Queens and the two-unit building (B2) at 150-21 14th Road in Whitestone, Queens.
The deal closed on December 27, 2022 and was recorded on January 13, 2023. The two properties have 6,207 square feet of built space and 4,777 square feet of additional air rights for a total buildable of 10,987 square feet according to PincusCo analysis of city data. The sale price per built square foot is $966 and the price per buildable square foot is $546 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 Vito Didonna estate was Lisa Feeley. The signatory for Salvatore Acquista was Salvatore Acquista.

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 150-27 14th Road.

Prior sales and revenue

Prior to this transaction, Pincusco has records that the buyer Salvatore Acquista purchased one property in one transaction for a total of $850,000 and has no record it sold any properties over the past 24 months.
The seller Vito Didonna estate had not purchased any other properties and had not sold any properties over the same time period.

The property

The 150-27 14th Road parcel has frontage of 66 feet and is 161 feet deep with a total lot size of 10,675 square feet. The zoning is R3-2 which allows for up to 0.5 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.7 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties since September of 2020. In addition, according to city public data, the properties have received 11 housing violations in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $5 million on this tax lot.

The block

On the tax block of 150-27 14th Road, PincusCo has identified the owners of four of the 43 commercial properties representing 6,920 square feet of the 126,083 square feet. The largest owner is Sukru Asfar, followed by Rocco Loccisano and then Nicholas Adamidis.
There are no active new building construction projects on this tax block.

The majority, or 53 percent of the 126,083 square feet of built space are mixed-use buildings, with office buildings next occupying 21 percent of the space.

The buyer

The PincusCo database currently indicates that Salvatore Acquista owned at least one commercial property in New York City with 2,000 square feet and a city-determined market value of $822,000. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single mixed-use property. It is located in Queens.

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