Updated Jul 30, 2026
SOLDDevelopment Site
Dennis Lou Acquires Development Site In Astoria For $1.775M Represented By Landair Property Advisors
21 16 30th Avenue
$1,775,000
$494/SF
Building Size
3,591 SF
Asset Type
Development Site
Closing
Apr 30, 2025
About this deal
AI
The property involved in this transaction is a development site located at 21-16 30th Avenue in the Astoria market. The sale was completed for a price of $1,775,000. It has a total building square footage of 8,106, resulting in a price per building square foot of $218. The property also has a total square footage of 3,591, which translates to a price per square foot of $494.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,775,000
- Address: 21-16 30th Avenue
- Market: Astoria
- Total Building Square Feet: 8,106
- Price per Building Square Foot: $218
- Total Square Feet: 3,591
- Price per Square Foot: $494
- Buyer: Dennis Lou
- Seller: Pavlounis Family
- Brokers: Alexandre Goulet, Dean Abouelhassan & Anand Melwani - Landair Property Advisors
This transaction was facilitated by brokers Alexandre Goulet, Dean Abouelhassan, and Anand Melwani, representing the parties involved in the deal through Landair Property Advisors. Dennis Lou was the buyer, while the seller was the Pavlounis Family.
On the Map
$1,775,000
$494/SF
Development Site
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Players
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
8.94%
Cash-on-Cash
-2.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93