VAJA Group pays $2.1M to expand dev site in Ditmars Steinway

VAJA Group through the entity 32 Street Owner LLC paid $2.1 million for the two-unit building (B3) at 24-62 32nd Street in Ditmars Steinway, Queens. The expected use is ground up development.
The deal closed on October 31, 2025 and was recorded on November 7, 2025. The property has 1,152 square feet of built space and 5,026 square feet of additional air rights for a total buildable of 6,175 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,866 and the price per buildable square foot is $348 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 Paul Halvatzis was Paul Halvatzis. The signatory for VAJA Group was Moses Freund . The contract date was April 7, 2025. VAJA Group has been assembling on the block, including 31-05 31st Street.

Vaja Group pays $11M to Anagnostopoulos family for dev site in Ditmars Steinway (July 16, 2025)

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer VAJA Group purchased 13 properties in 10 transactions for a total of $66.6 million and has no record it sold any properties over the past 24 months.
The seller Paul Halvatzis 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 Paul Halvatzis, individual owner.

The property

The 1-4 family building with 2 residential units in Ditmars Steinway has 1,152 square feet of built space and 5,026 square feet of additional air rights for a total buildable of 6,175 square feet according to a PincusCo analysis of city data. The parcel has frontage of 18 feet and is 65 feet deep with a total lot size of 1,235 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 $1.1 million.

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 five of the 19 commercial properties representing 20,480 square feet of the 82,829 square feet. The largest owner is Gandolfo Difiore, followed by Nick Kesoglides and then Vaja Group.
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 buyer

The PincusCo database currently indicates that Vaja Group owned at least 29 commercial properties with 619 residential units in New York City with 226,628 square feet and a city-determined market value of $26.5 million. (Market value is typically about 50% of actual value.) The portfolio has $150.6 million in debt, with top three lenders as Popular Bank, NorthEast Community Bank, and Northeast Community Bank respectively. Within the portfolio, the bulk, or 28 percent of the 226,628 square feet of built space are industrial properties, with walkup properties next occupying 17 percent of the space. The bulk, or 79 percent of the built space, is in Bronx, with Queens next at 21 percent of the space.

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