Efthimios Zisimopoulos borrows $34M from KeyBank for multifamily property in Astoria

Efthimios Zisimopoulos through the entity Realty Equity Holdings 3820, LLC as borrower signed a loan agreement with lender KeyBank valued at $33.9 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 128 residential units at 8-15 27th Avenue in Astoria. The deal closed on July 22, 2020 and was recorded on July 28, 2020.
The property contains a total of 112,482 square feet of built space. The property has 127,738 square feet of available development rights.
The average loan per unit is $264,984.
The borrower added $8.7 million in new debt on top of the $26.8 million from 2017 that was refinanced.

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 $148,375.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link