David Lubinitsky, the CEO of speech recognition company Ectaco, purchased a 214-unit apartment building in Astoria for $88 million from developer Shibber Khan’s Criterion Group, records filed with the city on Saturday show.
Criterion bought the site in 2011 for $12.9 million and developed the 144,303-square-foot, eight-story residential building. The luxury property includes studios and one- and two-bedroom apartments. The entire site can hold 160,000 buildable square feet.
Last month, Criterion bought a development site in the neighborhood for $57 million. That site, located at 11-12 30th Drive — which can hold roughly 460,000 square feet of residential space — spans Vernon Boulevard through 12th Street and is located near the Astoria Cove development.