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Alma Realty

31-10 37th Avenue, Suite 500
Long Island City, NY 11101
(718) 267-0300
Website
info@almarealty.com

Alma Realty is a New York City-based landlord and real estate developer founded in 1988 by Efstathios Valiotis. As of 2015, the founders daughter, Ekaterina Valiotis, worked at the family-run firm as director of management for New Jersey, where Alma's portfolio includes Center City Mall and the residential conversion of the Alexander Hamilton Hotel in Paterson as well as properties in Jersey City, Newark and Trenton. The firm also owns properties in Westchester County. Alma's Astoria Cove, a planned 1,723-unit housing complex on the Queens waterfront in which a quarter of units were to be charged below-market rent, was put on hold in July 2016. Critics allege the company cuts corners on maintenance and safety at its buildings and gives short shrift to tenants' rights. In 2015, Con Edison found that eight buildings in the Bronx and Upper Manhattan owned by Alma Realty had illegal gas hookups.


11/22/18
...headed by brothers Joseph and Meyer Chetrit, and Alma Realty, founded by Efstathios Valiotis in 1988, rounded out the top five, with 8.3 million square feet...

05/23/18
...has damaged neighboring buildings. Gateway Loft Associates and Alma Realty Corp. filed the $2 million suit against RXR Realty claiming construction activities at RXR’s...

05/23/18
...has damaged neighboring buildings. Gateway Loft Associates and Alma Realty Corp. filed the $2 million suit against RXR Realty claiming construction activities at RXR’s...

09/13/17
...headed by brothers Joseph and Meyer Chetrit, and Alma Realty, founded by Efstathios Valiotis in 1988, rounded out the top five, with 8.3 million square feet...

09/12/17
...Mitch Arkin and Joe Grotto represented the landlord, Alma Realty. Asking rents on the space were $50 a square foot. 7) Changing Tomorrow Child Center, 257 Gold...

...headed by brothers Joseph and Meyer Chetrit, and Alma Realty, founded by Efstathios Valiotis in 1988, rounded out the top five, with 8.3 million square feet...

07/18/17
...Prospect Place in Brooklyn (inset: Alma Realty head Efstathios Valiotis) UPDATED, July 18, 3:31 p.m.: Mayor Bill de Blasio's administration and Alma...

06/13/17
...Building and Construction Trades Council is going after Alma Realty for allegedly sidestepping its promise to hire union labor on its Astoria Cove megaproject...

04/13/17
...program as a sign to test the market. Alma Realty, for example, recently put the development site for its 2.2 million-square-foot Astoria Cove megaproject in...

04/03/17
...the site for $350 million. A partnership led by Alma Realty hired a team at Cushman & Wakefield including Bob Knakal, Robert Shapiro and Adam...

03/01/17
...Organization is building the 2,000-unit Halletts Cove and Alma Realty is behind the 1,763-unit Astoria Cove. Both of those rental projects have been hit...

02/23/17
...rd Street in Astoria UPDATED, Feb. 24, 4:51 p.m.: Alma Realty locked down $55 million to refinance its office building on 33rd Street in Astoria. Deutsche...

...to Halletts Point, the neighborhood’s other megaproject, Alma Realty’s 1,763-unit Astoria Cove complex, also stalled when 421a expired. But in July, Politico...

08/03/16
...Rendering of 34-45 Vernon Boulevard Alma Realty Corp., which recently put plans for its massive Astoria Cove project on ice, has...

07/22/16
...complex that were shaky from the start. Developer Alma Realty was relying on relatively high rents for apartments in a neighborhood that doesn't command...

07/19/16
...such as the Durst Organization's  Hallets Point and Alma Realty...

07/14/16
...the 421a in mind," said Mavroudis, whose firm Alma Realty Corp. is the lead developer of the project. "We rely on its reauthorization in...

06/23/16
...Jewish Hospital at 545 Prospect Place in Brooklyn (inset: Alma Realty head Efstathios Valiotis) The City Council on Monday unanimously approved a deal to waive...

06/14/16
...unions have also gone after developers such as Alma Realty and the Moinian Group for using nonunion labor. But in recent years, no developer...

06/03/16
...building near the Crown Heights border, owned by Alma Realty, contains 109 apartments, all of which are studios averaging about 983 square feet, according to CoStar...

04/29/16
...to lease 27,000 square feet at 36-36 33rd Street, Alma Realty’s 194,000-square-foot former industrial building. Asking rents in the building are in the low-...

03/07/16
...rendering of 147 East 86th Street (credit: HOK Architects); Alma Realty...

...a seven-building, 2,400-unit complex called Hallets Point, while Alma Realty’s Astoria Cove development is set to deliver 1,700 apartments. A rendering of the Durst...

...feet of retail shopping at the base of Alma Realty’s retail-and-office development at 30-30 Northern Boulevard. The area, sources say, needs more shopping...

10/21/15
...s list of “predatory equity landlords” also names Alma Realty, Benedict Realty Group, Icon, SMRC Management and Steve Croman. According to Public Advocate Letitia...
Alma Realty, Founder
31-10 37th Avenue, Suite 500, Long Island City, NY, (718) 267-0300
Efstathios Valiotis, who goes by Steve, is the founder and chief executive officer...
  • Event Sales
  • Address 4468 Broadway
  • Neighborhood Washington Heights
  • Borough Manhattan
  • Square feet 20,000
  • Price $ 9,100,000
  • Publication Date 04/02/2018
  • Event Date 03/22/2018
  • Party 1 Broadway 10th Ave Corp.
  • Party 1 Brokerage Besen & Associates
  • Party 1 Broker Ron Cohen, Hilly Soleiman, Amit Doshi
  • Party 2 Alma Realty
notes
The buyer secured the Washington Heights building for $9.1 million.
  • Event Office Leasing
  • Address 30-30 Northern Boulevard
  • Neighborhood Sunnyside
  • Borough Queens
  • Square feet 15,303
  • Price per foot $ 38.00
  • Publication Date 08/01/2017
  • Event Date 06/29/2017
  • Party 1 Alma Realty
  • Party 1 Brokerage Cushman & Wakefield
  • Party 1 Broker Mitchell Arkin, Bruce Mosler
  • Party 2 Charles H. Greenthal Property Sales
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Remy Liebersohn, Robert Eisenberg
notes
The real estate company inked a 12-year lease.
  • Event Financing
  • Address 34-46 33rd Street
  • Neighborhood Sunset Park
  • Borough Queens
  • Square feet 193,000
  • Price $ 55,000,000
notes
The company secured a $55 million mortgage.
  • Event Financing
  • Address 36-46 33rd Street
  • Neighborhood Sunset Park
  • Borough Queens
  • Square feet 193,000
  • Price $ 55,000,000
notes
The company secured a $55 million loan to refinance its office tower.
  • Event Financing
  • Address 34-46 Vernon Boulevard
  • Neighborhood Long Island City
  • Borough Queens
  • Price $ 60,000,000
notes
The company secured a $60 million loan that includes a $34.2 million construction loan and a $23.6 million gap mortgage.
  • Event Residential Sales
  • Building Name 42-55 Colden Street
  • Address Unit 14R, 42-55 Colden Street
  • Unit 14R
  • Neighborhood Flushing
  • Borough Queens
  • Price $ 245,000
  • Publication Date 07/15/2015
  • Event Date 06/05/2015
  • Party 1 Alma Realty Associates
  • Party 2 Yuen, Jack C
  • Event Residential Sales
  • Building Name 42-55 Colden Street
  • Address Unit 10B, 42-55 Colden Street
  • Unit 10B
  • Neighborhood Flushing
  • Borough Queens
  • Price $ 220,000
  • Publication Date 07/28/2014
  • Event Date 07/21/2014
  • Party 1 Alma Realty Associates
  • Party 2 Jiang, Ping
  • Event Retail Leasing
  • Address 42402 50th Avenue
  • Neighborhood Long Island City
  • Borough Queens
  • Square feet 7,697
notes
The market signed a lease.
  • Event Residential Sales
  • Building Name 42-55 Colden Street
  • Address Unit 16T, 42-55 Colden Street
  • Unit 16T
  • Neighborhood Flushing
  • Borough Queens
  • Price $ 200,000
  • Publication Date 12/03/2013
  • Event Date 11/21/2013
  • Party 1 Alma Realty Associates
  • Party 2 Chen, Shi Jing; Chen, Shun Lin
  • Event Residential Sales
  • Building Name 42-55 Colden Street
  • Address Unit 11B, 42-55 Colden Street
  • Unit 11B
  • Neighborhood Flushing
  • Borough Queens
  • Price $ 245,000
  • Publication Date 11/25/2013
  • Event Date 11/11/2013
  • Party 1 Alma Realty Associates
  • Party 2 Huang, Weidong; Li, Zhiying
  • Event Residential Sales
  • Building Name 42-55 Colden Street
  • Address Unit 11G, 42-55 Colden Street
  • Unit 11G
  • Neighborhood Flushing
  • Borough Queens
  • Price $ 160,000
  • Publication Date 09/14/2012
  • Event Date 08/28/2012
  • Party 1 Alma Realty Associates
  • Party 2 Young, Faye
  • Event Sales
  • Address Manhattan portfolio
  • Neighborhood SoHo
  • Borough Manhattan
  • Price $ 65,000,000
  • Event Sales
  • Address 80 Fort Washington Avenue
  • Neighborhood Washington Heights
  • Borough Manhattan
  • Price $ 65,000,000
notes
The package of Upper Manhattan residential buildings sold for $65 million. Sentinel bought 80 Fort Washington Avenue, 86 Fort Washington Avenue, 66-72 Fort Washington Avenue and 884 Riverside Drive; Alma and an unnamed partner acquired 3885 Broadway, 4455 Broadway and 3915 Broadway; and Onex, which had been a holder of mezzanine debt, took title to the 64-unit 3900 Broadway.
  • Event Sales
  • Address 30-30 Northern Boulevard
  • Neighborhood Long Island City
  • Borough Queens
  • Price $ 21,500,000
  • Event Office Leasing
  • Address 36-36 33rd Street
  • Neighborhood Long Island City
  • Borough Queens
  • Square feet 7,200
notes
The labor organization subleased space for three years and signed a direct lease with the landlord for an additional seven years.
  • Event Sales
  • Address 37-01 31st Street
  • Neighborhood Long Island City
  • Borough Queens
  • Price $ 12,000,000
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This property is a new development. The developer(s) filed plans in May of...

...is slated to start construction this fall, and Alma Realty’s roughly 1,700-unit Astoria Cove development, which will have 460 affordable units. Durst is not...

...like Treetop Development and the Orbach Group, Queens-based Alma Realty, Doug Eisenberg of A&E Real Estate and Castellan Real Estate Partners. Those...
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