Honoring Mr. Efstathios Valiotis upon the occasion of his designation for special recognition

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LEGISLATIVE RESOLUTION honoring Mr. Efstathios Valiotis upon the occa-
sion of his designation for special recognition

WHEREAS, It is the sense of this Legislative Body to recognize that the
quality and character of life in the communities across New York State
are reflective of the concerned and dedicated efforts of those individ-
uals who would devote themselves to the welfare of the community and its
citizenry; and
WHEREAS, Attendant to such concern, and in full accord with its long-
standing traditions, this Legislative Body is justly proud to honor Mr.
Efstathios Valiotis upon the occasion of his designation for special
recognition; and
WHEREAS, Efstathios Valiotis was born in Vordonia, Greece; he immi-
grated to the United States in the early part of the 1970s and estab-
lished a custom-made furniture business, Knossos, Inc., in Astoria,
Queens in 1976; within two years, the business was expanded to include a
showroom on Manhattan's Park Avenue and a furniture-manufacturing facto-
ry in Queens; and
WHEREAS, Mr. Valiotis continued to own and actively manage Knossos,
Inc. until 1994; and
WHEREAS, In 1978, Mr. Valiotis began his highly successful career
investing in real estate; since that time, the successful acquisition
and development processes stemming from purchase, sale, construction,
and management of both residential and commercial real estate have
contributed to Mr. Valiotis's expertise in real estate transactions; and
WHEREAS, In 1985, Mr. Valiotis, along with three associates, founded
the ASCOT Management Corporation; ASCOT managed all of Mr. Valiotis's
real estate holdings from the period of 1985 through 1988, and in 1988,
he established a construction company named Vordonia Construction Corpo-
ration; and
WHEREAS, Currently, Vordonia Construction serves as the General
Contractor for the majority of Mr. Valiotis's projects; in 1988, he
founded his own firm, known as Alma Realty Corporation; Alma serves as
the vessel by which Mr. Valiotis develops, builds, manages, and acquires
real estate; and
WHEREAS, In 1989, Mr. Valiotis, along with several other investors,
formed Marathon National Bank; he served on the board of directors for
eight years and Marathon was acquired by Piraeus National Bank of Greece
in 2001; and
WHEREAS, In 2007, Mr. Valiotis formed Alma Bank in which he is a
majority shareholder and also serves as Chairman of the Advisory Board;
Alma Bank started with the highest capital investment in a New York
state commercial bank, and has expanded to include five branches with
several more under construction; and
WHEREAS, Mr. Valiotis's community involvement has included supporting
charitable institutions; he has generously supported the Holy Cross
Greek Orthodox Church of Whitestone, and its school is named the
Efstathios and Stamatiki Valiotis Greek American School; and
WHEREAS, An avid supporter of education, Mr. Valiotis built a univer-
sity in his hometown of Sparta, Greece, which also bears his name; and
WHEREAS, Mr. Valiotis has built a diverse portfolio in the last three
decades including multi-family residential buildings, commercial build-
ings, ground-up construction of residential and commercial buildings and
a retail shopping center; Alma Realty also owns and manages over 1,000
units of affordable housing in New York and New Jersey; he is committed
to investing and improving communities by providing safe and well-main-
tained residential and commercial developments; and

WHEREAS, It is the sense of this Legislative Body that those who
enhance the life in their community and have shown a long and sustained
commitment to excellence certainly have earned recognition and applause;
now, therefore, be it
RESOLVED, That this Legislative Body pause in its deliberations to
honor Mr. Efstathios Valiotis upon the occasion of his designation for
special recognition; and be it further
RESOLVED, That a copy of this Resolution, suitably engrossed, be tran-
smitted to Mr. Efstathios Valiotis.


  • 09 / Feb / 2010
  • 23 / Feb / 2010
  • 23 / Feb / 2010

Resolution Details

Law Section:
Resolutions, Legislative


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