Steve Zervoudis borrows $7.7M from Orange Bank & Trust for East Harlem multifamily

Steve Zervoudis through the entity 324 Pleasant, LLC as borrower signed a loan agreement with lender Orange Bank & Trust Company valued at $7.7 million for 1 parcel, including the tax class multifamily, fireproof (standard construction without stores) (D3) and containing 39 residential units at 324 Pleasant Avenue in East Harlem. The deal closed on July 30, 2020 and was recorded on August 4, 2020.
The property contains a total of 37,429 square feet of built space.
The average loan per unit is $197,436.
Steve Zervoudis also owns Galaxy General Contracting. The financing included a $2.5 million gap loan.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 39 residential units on January 10, 2013.

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