Meet Alma Realty, the developer behind 1,800-unit Astoria Cove

TRD New York /
Nov.November 14, 2013 04:45 PM

John Mavroudis, project manager at low-key Astoria Cove developer Alma Realty, will likely soon find his firm in the limelight as the massive project pushes on.

Astoria Cove will include 1,800 units of housing across four towers, a promenade with shops, restaurants, a supermarket and open space, and will join the neighboring and similarly huge Hallets Point project. The project is a logical one given the firm’s long presence in Queens, Mavroudis told Crain’s.

Astoria Cove is an idea that has been in the works with the City Planning Commission for some time, he said, and having Lincoln Equities Group’s Hallets Point next door will enable the two developments to “feed off each other.”

“When they are both done, the whole picture will be painted,” he told Crain’s.

Following the 2008 market fallout, Mavroudis said, Alma turned its attention to retail and existing buildings, then pushed to acquire several properties from 2010 to 2012. Since then, the focus has shifted back to development and construction, he said.

“It just seemed like a logical thing to go after,” he told Crain’s. “I think we’ve reached a point in our discussions where we have a very valuable project that is going to benefit all the stakeholders.” [Crain’s]Julie Strickland


Related Articles

arrow_forward_ios
Triplemint's David Walker and Gina Ko with The Alexandra (Credit: Triplemint)

Lead-gen firm Triplemint jumps into the new dev game

Robert De Niro and 87 19th Avenue in Queens (Credit: Getty Images and Google Maps)

Robert De Niro, his broker son Raphael part of dev team planning $425M Queens studio

HUBB NYC picks up Astoria apartment building in biggest Queens multifamily deal so far this year

HUBB NYC picks up Astoria apartment building in biggest Queens multifamily deal so far this year

Cape Advisors files plans for massive residential Astoria project

Cape Advisors files plans for massive residential Astoria project

Steinway Square showdown: Developers allege Silverstein forced them out of 4,000-unit project in Queens

Steinway Square showdown: Developers allege Silverstein forced them out of 4,000-unit project in Queens

Silverstein inks ground lease for massive Astoria dairy plant site

Silverstein inks ground lease for massive Astoria dairy plant site

Astoria building with 114 rentals hits the market for $100M

Astoria building with 114 rentals hits the market for $100M

8-29 Astoria Boulevard

New 47-unit resi building planned for Astoria

arrow_forward_ios