Investment firm lists Neptune Diner in Astoria as being on sale for $10.5 million

Neptune Diner, which has been located at 31-05 31st St. in Astoria for 30 years, is officially on sale.

Eastern Consolidated, a real estate investment firm, has the site listed on sale for $10.5 million, the Queens Gazette reported. There have been multiple rumors throughout the years that the site was for sale, but owners have denied it.

When QNS called the diner and asked to speak to the owner — which is listed as Peter Katsihtis in some Department of Buildings documents and George Katsihtis in other documents — a person who was identified as the owner said that “it’s not on sale, ma’am,” and hung up the phone.

According to the listing, the site is 44,432 square feet and Eastern Consolidated touts the diner’s proximity to the N/W Astoria Boulevard station. It consists of three lots and is within a C4-3 zoning district, which will allow buyers to build a variety of residential, retail, commercial and community facility spaces as-of-right.

The diner’s lease ends on Aug. 31, 2019, and there are no extension options, according to the listing.

It’s the second Queens diner making real estate news this week. On Monday, QNS reported that the Georgia Diner is moving after 40 years from its original Queens Boulevard location in Elmhurst, which was sold to developers. The Georgia Diner will merge with the nearby Nevada Diner, which will assume the Georgia name.