Efstathios Valiotis Of Alma Realty Secures $94.5 Million Refinance Loan From Zions Bancorporation
107-10 Shore Front Parkway, 106-20 Shore Front Parkway I, 106-20 Shore Front Parkway & 1 Beach 105th Street
$94,500,000
$107/SF
Building Size
876,424 SF
Asset Type
MultiFamily
Closing
May 28, 2026
AI
The asset involved in this transaction includes a multifamily portfolio located at 107-10 Shore Front Parkway, 106-20 Shore Front Parkway, and 1 Beach 105th Street in the Rockaway Park market. The total square footage of the buildings is 876,424 with a building size footprint of 958,582 square feet.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $94,500,000
- Lender: Zions Bancorporation
- Landlord: Efstathios Valiotis - Alma Realty
- Loan Type: Refinance
- Unit Count: 770
Efstathios Valiotis, representing Alma Realty, facilitated the refinancing of this significant portfolio comprising residential elevator buildings, which are situated within a prominent area of Queens.
Players
Naples MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93