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21-12 31st Avenue

Dimitrios Malliakas Purchases Development Site In Astoria Queens For $1.9M With Chris Tavantzis
SOLDDevelopment Site

Dimitrios Malliakas Purchases Development Site In Astoria Queens For $1.9M With Chris Tavantzis

21-12 31st Avenue

$1,900,000

$666/SF

Building Size

2,850 SF

Asset Type

Development Site

Closing

May 10, 2026

AI

A development site located at 21-12 31st Avenue in Astoria, Queens has been sold. The property was transacted for a total of $1,900,000, featuring a building surface area of 8,550 square feet, which results in a price per buildable square foot of $222. The overall square footage of the site is 2,850, leading to a price per square foot of $666.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $1,900,000
  • Building Surface Area: 8,550 BSF
  • Price Per Buildable Square Foot: $222
  • Square Footage: 2,850 SF
  • Price Per Square Foot: $666
  • Buyer: Dimitrios Malliakas
  • Seller: Carl Malfitano
  • Buyer's Representative: Chris Tavantzis - Pristine Property Solutions
  • Seller's Representatives: Donal Flaherty & Tom Reynolds - Investment Property Realty Group

This transaction involved key representatives Chris Tavantzis, who acted on behalf of the buyer, and Donal Flaherty alongside Tom Reynolds, who represented the seller in the deal. Their participation was crucial in facilitating the sale between Dimitrios Malliakas and Carl Malfitano.

Players

Donal Flaherty
Verified Badge

Donal Flaherty

Investment Property Realty Group (IPRG)

Broker

$367.7M

vol

101 deals

Broker

Astoria Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.35%

Cash-on-Cash

-2.39%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93