Imian Partners borrows $27M from United States Life Insurance for new multifamily property in Astoria

Theodore M. Kakoyiannis’s Imian Partners through the entity 34-22 Astoria Partners, LLC as borrower signed a loan agreement with lender the United States Life Insurance Company valued at $26.5 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 64 residential units at 34-22 35th Street in Astoria. The deal closed on April 24, 2020 and was recorded on April 27, 2020.
The property contains a total of 56,214 square feet of built space.
The average loan per unit is $414,063.
The last time the property sold was January 29, 2015, for $2,500,000.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 65 residential (or hotel) units on October 22, 2019.
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 $387,160.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link