Brick Capital buys $2.1M note secured by Zervoudis Associates’s 24-unit rental in Astoria

Brick Capital Group through the entity Brick Brad Capital LLC bought a note with an original principal of $2.1 million from Dime Community Bank secured by Zervoudis Associates’s 24-unit rental (C1) at 30-34 32nd Street in Astoria, Queens.
The deal closed on June 17, 2021 and was recorded on June 29, 2021.
The property has 14,450 square feet of built space and 0 square feet of additional air rights for a total buildable of 7,500 square feet according to PincusCo analysis of city data.
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.
The owners according to the Department of Housing Preservation and Development include John Zervoudis, head officer and Jerry Troianos, agent. The business entities are J & K Astoria Realty and J & K Astoria Realty Llc.
Within a 400-foot radius of 30-34 32nd Street, PincusCo identified three commercial real estate items of interests occurred over the past 24 months.
Of those three items, two were in new building development. There was one new building permit application and one new building permit. The most recent of these two items was a permit on January 23, 2020 for a 17,629-square-foot R-1 building with 50 residential units at 30-17 31st Street.
One of those three items was a loan which Zengwen Ye and Calvin Q. Pan borrowed $6.5 million from Amerasia Bank secured by the 22,330-square-foot, 25-unit rental (D6) on 30-61 31st Street on June 17, 2021.

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