Tsilo Group signs $54M refi loan with Dwight Capital for new 92-unit rental in Astoria

Tsilo Group through the entity Bq 29, LLC as borrower signed a refi loan with lender Dwight Capital through the entity Dwight Capital LLC valued at $54 million for the 92-unit building properties including the property  at 31-90 29th Street in Astoria, Queens.

On the tax block, there was a 92-unit, 87,439 square-foot residential (R-2) building plan, Q00638678, submitted by George Tsilogiannis with plans filed December 1, 2021 and permitted May 18, 2022.
The deal closed on February 26, 2026 and was recorded on March 10, 2026. The prior lender was Ponce Bank which held debt that had an original loan amount of $44 million. The building is divided into two commercial tax parcels.
The signatories for Tsilo Group were Nicholas Tsilogiannis and George Tsilogiannis .

The block

On the tax block of 31-90 29th Street, PincusCo has identified the owners of eight of the 16 commercial properties representing 254,800 square feet of the 534,748 square feet. The largest owner is Lefrak, followed by Viking Management and then Broadway Stages.
The second largest is a 14-unit, 14,025 square-foot residential (R-2) building submitted by Eric Belanich with plans filed June 6, 2019 and permitted December 27, 2019.

The majority, or 65 percent of the 534,748 square feet of built space are elevator buildings, with walkup buildings next occupying 21 percent of the space.

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