Dimitri Kostopoulos Purchases Astoria Multifamily From Mihalis Gkatzioni For $1.785M
40 16 23rd Road
$1,785,000
$740/SF
Building Size
2,411 SF
Asset Type
MultiFamily
Closing
Jan 15, 2026
AI
The property asset involved in the transaction is a multifamily building located at 40-16 23rd Road in Astoria. The sale price of the property was $1,785,000, with a total square footage of 2,411, resulting in a price per square foot of $740.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,785,000
- Address: 40-16 23rd Road
- Market: Astoria
- Square Footage: 2,411
- Price per Square Foot: $740
- Buyer: Dimitri Kostopoulos
- Seller: Mihalis Gkatzioni
- Buyer’s Representative: Theodosis Neocli - Astoria Realty
- Seller’s Representative: Vasilakis Pyrpos - Astoria Realty
The transaction was facilitated by Theodosis Neocli and Vasilakis Pyrpos, both representing their respective clients, with Neocli working on behalf of the buyer, Dimitri Kostopoulos, and Pyrpos representing the seller, Mihalis Gkatzioni.
Players
Astoria MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.89%
Cash-on-Cash
-2.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93