Isak of Falco & Isak arranges $1.8 million sale of 30-44 Steinway Street

Rubin Isak, CEO/co-founder of Falco & Isak Realty Services has sold 30-44 Steinway St. in Astoria, in an all-cash transaction valued at $1.8 million. The sales price of $1.8 million represents $463 per s/f. 30-44 Steinway St. is a three-story mixed-use building containing 3,885 above grade s/f. The building is located on the west side of Steinway St. between 30th and 31st Aves. The property has been family owned for over 40 years. It is zoned in a C4-2A district containing 1,200 s/f of unused air rights. The property has been recently vacated. "We were exclusively hired to sell 30-44 Steinway on February 14. Within 1 week we had a hard contract and closed 30 days after that to an all cash buyer for a healthy sales price," said Isak. "The strong sales price for a vacant 18.5 ft. building, as well as the speed of the transaction demonstrates the strength of the Astoria commercial real estate market." The seller was H & S Gordon Two LLC, and the purchaser was, Poligrios, LLC a private investor from Astoria. The sellers' attorney was Salvatore Acquista, Esq. and the purchasers' attorney was Paul Stamatalatos, Esq. Isak was the sole broker in the transaction.