Aurora, ACHS Management borrow $22.5M from New York Community for retail in Forest Hills

Aurora Capital Associates and ACHS Management through the entity C&A Forest Hills LLC as borrower signed a loan agreement with lender New York Community Bank valued at $22.5 million for 2 parcels, including the tax class two-story or store and office (K2) at 69-37 Austin Street, 107-16 71st Avenue in Forest Hills. The deal closed on October 1, 2020 and was recorded on December 14, 2020.
The property has 75,920 square feet of built space and available development rights.
The average loan per buildable square foot is $297.
The signatory for Aurora and the Adjmi family’s ACHS was Robert “Bobby” Cayre. The recorded debt was reduced from a principal of $26.5 million.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $165,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link