Shunqian Liu pays $10.4M for dev site in Astoria

Shunqian Liu through the entity Unionstone Development LLC paid $10.4 million to Janos Kanta and Gloria Kellarakos through the entity 3075 21st Street LLC for the development site (V1) at 30-75 21st Street in Astoria, Queens. The expected use is ground up development.
The deal closed on November 24, 2025 and was recorded on December 2, 2025. The property has zero square feet of built space and 40,000 square feet of additional air rights for a total buildable of 40,000 square feet according to a PincusCo analysis of city data. The sale price per buildable square foot is $260 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 seller bought the property on October 28, 2020, for $13 million. The signatory for Janos Kanta and Gloria Kellarakos was Janos Kanta and Gloria Kellarakos. The signatory for Shunqian Liu was Kenny Shunqian Liu. The contract date was October 24, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Shunqian Liu had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Janos Kanta had not purchased any other properties and sold one property in one transaction for a total of $7.1 million over the same time period.

The property

The parcel has frontage of 100 feet and is 100 feet deep with a total lot size of 10,000 square feet. The zoning is R7A which allows for up to 4 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $608,000.

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 $2,250 in ECB penalties and $9,280 in OATH penalties in the last year.

Development

On the lot, there is one active new building construction project, Q00533905, for a 56-unit, 45,751 square-foot R-2 building. The project was submitted by Szilvia Barnett with plans filed December 2, 2021 and it has not been permitted yet.

The neighborhood

In Astoria, The bulk, or 36 percent of the 40.2 million square feet of commercial built space are walkup buildings, with elevator buildings next occupying 31 percent of the space. In sales, Astoria has 2.7 times the average sales volume among other neighborhoods with $819 million in sales volume in the last two years and is the 2nd highest in Queens. For development, Astoria has 1.5 times the average amount of major developments relative to other neighborhoods and is the 5th highest in Queens. It had 2.2 million square feet of commercial and multi-family construction under development in the last two years, which represents 6 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of four of the 10 commercial properties representing 11,846 square feet of the 48,321 square feet. The largest owner is Farzan Adhami, followed by Jack Dilluvio and then Nuverse Advisors.
On the tax block, there were two new building construction projects totaling 69,024 square feet. The largest is a 56-unit, 45,751 square-foot residential (R-2) building submitted by Szilvia Barnett with plans filed December 2, 2021 and it has not been permitted yet. The second largest is a 34-unit, 23,273 square-foot residential (R-2) building submitted by Michael Lagoudis with plans filed October 23, 2018 and permitted October 8, 2021.

The majority, or 34 percent of the 48,321 square feet of built space are walkup buildings, with elevator buildings next occupying 34 percent of the space.

The buyer

The PincusCo database currently indicates that Shunqian Liu owned at least one commercial property with 30 residential units in New York City with 25,371 square feet and a city-determined market value of 0.0. (Market value is typically about 50% of actual value.) The portfolio has $8.5 million in debt, borrowed from Berkshire Bank. The portfolio consists of at least a single D7 property. It is located in Queens.

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