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Ponce Bank Provides $20M Refinance Loan For Wingate Hotel In Astoria Represented By Yanni Kouzilos And Douglas Romero

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FINANCED
$20,000,000

New York

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Hotel93,161 SF
Financed 07/30/2025
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Property Image
FINANCED

Ponce Bank Provides $20M Refinance Loan For Wingate Hotel In Astoria Represented By Yanni Kouzilos And Douglas Romero

38 70 12th Street

See Similar Deals
Hotel93,161 SF
Financed 07/30/2025
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Hotel
Price Per Square Foot:$214
Total Square Footage:93,161 SF
Transaction Type:Loan

The property involved in this transaction is a hotel located at 38-70 12th Street in Astoria. The asset spans 93,161 square feet and comprises 144 keys. The transaction was noted as a refinance, with a loan amount of $20,000,000 and loan terms set for five years.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $20,000,000
  • Loan Type: Refinance
  • Loan Terms: 5 years
  • Lender: Ioannis “Yanni” Kouzilos & Douglas Romero - Ponce Bank
  • Landlord: Alex Lau - Ampiera Group & Thomas Wang - W & L Group

Notably, Ponce Bank, represented by Yanni Kouzilos and Douglas Romero, provided the loan to Alex Lau of the Ampiera Group to refinance the Wingate hotel in Long Island City (LIC). The hotel has been recognized as the Best Wingate Hotel for the years 2022, 2023, and 2024.

Players

DR
Ponce Bank
Douglas Romero
28 deals$696.8M volume
LENDER
Ponce Bank
Ponce Bank
LENDER
Ponce Bank
Ponce Bank
LENDER
AG
Ampiera Group
LANDLORD
AG
Ampiera Group
LANDLORD

Details

FINANCED
IMAGE: Yanni Kouzilos & Douglas Romero DATE: 7/30/2025 ADDRESS: 38-70 12th Street MARKET: Astoria ASSET TYPE: Hotel ~ SF: 93,161 ~ KEYS: 144 LENDER: Ioannis “Yanni” Kouzilos & Douglas Romero - Ponce Bank LANDLORD: Alex Lau - Ampiera Group & Thomas Wang - W & L Group LOAN AMOUNT: $20,000,000 LOAN TYPE: Refinance LOAN TERMS: 5 years NOTE FROM LENDER: Ponce Bank, one of the most active construction lender in NYC, provided a perm loan to its long time client, Alex Lau, Ampiera Group for the Wingate hotel in LIC. The hotel was rank Best Wingate Hotel for 2024, 2023, and 2022.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$20,000,000.00

Monthly NOI$133,333.33
Monthly Debt Service$126,413.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00