John Mavroudis’s Alma Realty borrows $107M from New York Community Bank for multifamily property in Rockaway Park

John Mavroudis’s Alma Realty through the entity 107-10 Shorefront Realty LLC as borrower signed a loan agreement with lender New York Community Bank valued at $107.1 million for 3 parcels, including the tax class multifamily, fireproof (standard construction without stores) (D3) and containing 770 residential units at 107-10 Shore Front Parkway, 106-20 Shore Front Parkway, 106-10 Shore Front Parkway in Rockaway Park. The deal closed on November 25, 2019 and was recorded on November 27, 2019.
The property contains a total of 293,677 square feet of built space.
The average loan per unit is $139,084.

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 $137,360.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link