Alizios borrow $32.9M from NYC Housing Development Corp. for 462-unit rental in Far Rockaway

Peter Alizio and Paul Alizio through the entity Seaview Towers 2006, L.P. as borrower signed a loan agreement with lender New York City Housing Development Corporation valued at $32.9 million for 1 parcel, including the tax class miscellaneous utility (including private improvements in city land and in public places) (U9) and containing 462 residential units at 311 BEACH 32nd STREET in Far Rockaway. The deal closed on October 21, 2020 and was recorded on January 7, 2021.
The property contains a total of 449,000 square feet of built space. The property has 449,000 square feet of available development rights.
The average loan per unit is $71,147.
The last time the property sold was December 21, 2006 for $42,000,000.
Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $5,400,000.

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