Updated Sep 29, 2026
Shibber Khan Purchases Commercial Property From Theodore M Kakoyiannis In Astoria For $8.5M
42-01 28th Avenue
$8,500,000
$1,014/SF
Building Size
8,375 SF
Asset Type
Commercial
Closing
Sep 7, 2026
About this deal
AI
Shibber Khan purchased an 8,375-square-foot commercial property at 42-01 28th Avenue in Astoria, Queens, from Theodore M. Kakoyiannis for $8.5 million. The transaction closed on September 7, 2026, at a rate of $1,015 per square foot.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $8,500,000
- Address: 42-01 28th Avenue
- Market: Astoria, Queens
- Square Footage: 8,375
- Price Per Square Foot: $1,015
- Buyer: Shibber Khan
- Seller: Theodore M Kakoyiannis
- Date of Sale: September 7, 2026
This transaction involved Shibber Khan as the buyer, while Theodore M. Kakoyiannis represented the seller in the deal, facilitating the transfer of ownership of the commercial property.
On the Map
$8,500,000
$1,014/SF
Commercial
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Astoria Commercial Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93