Alma Realty borrows $21M from Deutsche Bank Trust Company for property in College Point

Alma Realty through the entity Whitestone Plaza, LLC as borrower signed a loan agreement with lender Deutsche Bank Trust Company Americas valued at $21.0 million for 1 parcel, including the tax class office building with two to six stories (O2) at 30-50 Whitestone Expwy in College Point. The deal closed on October 17, 2019 and was recorded on October 22, 2019.
The property contains a total of 105,000 square feet of built space. The property has 51,971 square feet of available development rights.
The average loan per buildable square foot is $134.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $389,800.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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