Updated Nov 17, 2025
Thomas Ballis Acquires Development Site At 30-04 38th Avenue Astoria For $1.25M
30 04 38th Avenue
$1,250,000
$500/SF
Building Size
2,500 SF
Asset Type
Development Site
Closing
Sep 10, 2025
About this deal
AI
A development site located at 30-04 38th Avenue in the Astoria market was sold for $1,250,000, with a buildable square footage (BSF) of 7,000. The property measures 2,500 square feet and has a price per buildable square foot (PPBSF) of $178 and a price per square foot (PPSF) of $500.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,250,000
- Address: 30-04 38th Avenue
- Market: Astoria
- Buildable Square Footage: 7,000
- Price per Buildable Square Foot: $178
- Square Footage: 2,500
- Price per Square Foot: $500
- Buyer: Thomas Ballis
- Seller: Paul Serini & Rajneet Serini
The transaction involved Thomas Ballis as the buyer, while Paul Serini and Rajneet Serini represented the seller in the deal. The parties engaged in this transaction have highlighted their positions within the property market, completing a notable exchange in the Astoria area.
On the Map
$1,250,000
$500/SF
Development Site
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Players
New York 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
12.69%
Cash-on-Cash
-3.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93