Spiro Gatanas pays $2.7M for 16-unit walkup in Ditmars Steinway
Spiro Gatanas through the entity Sjg Astoria LLC paid $2.7 million to Anna Maria Yavaldakis through the entity 21-42 28th Street LLC for the 16-unit residential walkup building (C1) at 21-42 28th Street in Ditmars Steinway, Queens.
The deal closed on March 1, 2024 and was recorded on March 13, 2024. The property has 11,000 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $243 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 Anna Maria Yavaldakis was Anna Maria Yavaldakis. The signatory for Spiro Gatanas was Spiro Gatanas. The contract date was December 11, 2023.
Prior sales and revenue
Prior to this transaction, PincusCo has no record that the buyer Spiro Gatanas had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Anna Maria Yavaldakis had not purchased any other properties and had not sold any properties over the same time period. The former owner according to the Department of Housing Preservation and Development is Anna Yavaldakis, head officer. The business entity is Rocco-Lidia Llc.
The property
The residential walkup building with 16 residential units in Ditmars Steinway has 11,000 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 40 feet and is 100 feet deep with a total lot size of 4,007 square feet. The zoning is R5B which allows for up to 1.35 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $949,000.
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 not received any significant violations 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 block
On this tax block, PincusCo has identified the owners of eight of the 17 commercial properties representing 88,000 square feet of the 187,000 square feet. The largest owner is Shahanara Khan, followed by Peter Melledis and then Nikolaos Gavalas.
There are no active new building construction projects on this tax block.
All properties are walkup.
The buyer
The PincusCo database currently indicates that Spiro Gatanas owned at least one commercial property with six residential units in New York City with 5,262 square feet and a city-determined market value of $1.1 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property. It is located in Queens.
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