Xenophontos, Houliaras, Mathioudakis sign $20M refi loan with Alma Bank for rental in Astoria

Xenophon Xenophontos, Lambros Houliaras, and Emmanuel Mathioudakis through the entity L & A Group Holdings LLC as borrower signed a refi loan with lender Alma Bank valued at $20 million for the 44-unit rental (D1) at 29-19 Newtown Avenue in Astoria, Queens.
The deal closed on October 21, 2021 and was recorded on November 19, 2021.
The property has 44,942 square feet of built space and 606 square feet of additional air rights for a total buildable of 45,474 square feet according to PincusCo analysis of city data. The loan price per built square foot is $445 and the price per buildable square foot is $439 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on June 30, 2011, for $700,000.
The signatory for Xenophon Xenophontos, Lambros Houliaras, and Emmanuel Mathioudakis was Lambros Houliaras.
(420839150) Plans for a 44-unit, 32,866 square-foot R-2 were filed on May 22, 2013 and were permitted on March 7, 2018.
Xenophon Xenophontos is associated with owner LLC. They also signed, along with Emmanuel Mathioudakis, on a previous mortgage on the property.
There was a condominium project filed with the address 29-19 Newtown Avenue and the name Townhaus Condominiums on March 12, 2020. The principals of the sponsor, L & A Group Holdings Llc, were Lambros Houliaras, Xenophon Xenophontos, and Emmanuel Mathioudakis. link
Within a 400-foot radius of 29-19 Newtown Avenue, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a permit issued on July 8, 2021 for the $639,360 renovation of 5,223-square-foot R-2 building with eight residential units at 27-16 Newtown Avenue.

Direct link to Acris document. link