Ciampa Organization borrows $11M from Capital One for refi of multifamily property in Astoria

Ciampa Organization through the entity Ciampa 21 LLC as borrower signed a loan agreement with lender Capital One, National Association valued at $11.1 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 60 residential units at 14-56 31st Drive in Astoria. The deal closed on March 12, 2020 and was recorded on March 25, 2020.
The property contains a total of 61,700 square feet of built space.
The average loan per unit is $184,417.
The last time the property sold was June 26, 2015, for $18,800,000.

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 $119,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link