Vaja Group pays $11M to Anagnostopoulos family for dev site in Ditmars Steinway

Vaja Group through the entity Neptune Tower LLC paid $11 million to Anagnostopoulos family for three properties including 31-05 31st Street in Ditmars Steinway, Queens. The expected use is ground up development.
The deal closed on July 3, 2025 and was recorded on July 15, 2025. The three properties have 3,280 square feet of built space and 46,874 square feet of additional air rights for a total buildable of 50,180 square feet according to a PincusCo analysis of city data. The sale price per buildable square foot is $219 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 Thomas Anagnostopoulos was Thomas Anagnostopoulos, Stavroula Anagnostopoulos, and Aglaia Anagnostopoulos. The signatory for Vaja Group was Moses Freund . The contract date was April 4, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Vaja Group purchased 12 properties in nine transactions for a total of $55.9 million and has no record it sold any properties over the past 24 months.
The seller Thomas Anagnostopoulos purchased two properties in two transactions for a total of $12.2 million and sold nine properties in three transactions for a total of $13.8 million over the same time period. Out of the three properties, one with a total of 3,280 square feet of built space generated revenue of $216,414 per year.

The property

The retail building in Ditmars Steinway has 3,280 square feet of built space and 46,874 square feet of additional air rights for a total buildable of 50,180 square feet according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 90 feet deep with a total lot size of 8,700 square feet. The lot is irregular. The zoning is C4-5X which allows for up to 4 times floor area ratio (FAR) for commercial and up to 5 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1.2 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have not received any significant violations in the last year.

Development

On these lots, there is one active new building construction project, Q00617404, for a 20-unit, 25,836 square-foot residential (R-2) building. The project was submitted by Thomas Anagnostopoulos with plans filed December 10, 2021 and permitted June 10, 2022.

The neighborhood

In Ditmars Steinway, The bulk, or 41 percent of the 11.3 million square feet of commercial built space are walkup buildings, with industrial buildings next occupying 25 percent of the space. In sales, Ditmars Steinway has 1.3 times the average sales volume among other neighborhoods with $355.8 million in sales volume in the last two years and is the 5th highest in Queens. For development, Ditmars Steinway has had very little major development activity relative to other neighborhoods.It had 287,338 square feet of commercial and multi-family construction under development in the last two years, which represents 3 percent of the neighborhood’s built space.

The block

On the tax block of 31-05 31st Street, PincusCo has identified the owners of two of the 19 commercial properties representing 17,200 square feet of the 82,829 square feet. The two identified owners are Gandolfo Difiore and Nick Kesoglides.
On the tax block, there was one new building construction project filed totaling 25,836 square feet. It is a 20-unit, 25,836 square-foot residential (R-2) building submitted by Thomas Anagnostopoulos with plans filed December 10, 2021 and permitted June 10, 2022.

The majority, or 48 percent of the 82,829 square feet of built space are walkup buildings, with retail buildings next occupying 36 percent of the space.

The seller

The PincusCo database currently indicates that Thomas Anagnostopoulos owned at least nine commercial properties with 235 residential units in New York City with 184,383 square feet and a city-determined market value of $21.4 million. (Market value is typically about 50% of actual value.) The portfolio has $28.7 million in debt, borrowed from New York Community Bank and JPMorgan Chase. Within the portfolio, all identified are walkup properties. They are all located in Queens.

The buyer

The PincusCo database currently indicates that Vaja Group owned at least 24 commercial properties with 526 residential units in New York City with 218,884 square feet and a city-determined market value of $24.1 million. (Market value is typically about 50% of actual value.) The portfolio has $48.9 million in debt, with top three lenders as Northeast Community Bank, NorthEast Community Bank, and Integritas Capital respectively. Within the portfolio, the bulk, or 29 percent of the 218,884 square feet of built space are industrial properties, with walkup properties next occupying 18 percent of the space. The bulk, or 80 percent of the built space, is in Bronx, with Queens next at 20 percent of the space.

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