Updated Nov 14, 2025
Thomas Ballis Purchases Development Site In Astoria For $3.35M With Luca DiCiero As The Broker
28 25 31st Street
$3,350,000
$670/SF
Building Size
5,000 SF
Asset Type
Development Site
Closing
Nov 5, 2025
About this deal
AI
The development site located at 28-25 31st Street in Astoria has been sold for $3,350,000. The property encompasses a building square footage (BSF) of 20,000, with a price per building square foot (PPBSF) of $167. It also has a total square footage (SF) of 5,000, which breaks down to a price per square foot (PPSF) of $670.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,350,000
- Buyer: Thomas Ballis
- Seller: Peter Vasilakos
- Broker: Luca DiCiero - NY Space Finders
In this transaction, Thomas Ballis acted as the buyer of the property while Peter Vasilakos was the seller. The broker representing the transaction was Luca DiCiero from NY Space Finders, ensuring the deal was managed effectively between the involved parties.
On the Map
$3,350,000
$670/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
4.74%
Cash-on-Cash
-1.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93