Chung Lam borrows $8M from CTBC Bank Corp. for property in Flushing

Chung Lam through the entity 35 Avenue Realty Inc. as borrower signed a loan agreement with lender CTBC Bank Corp. (USA) valued at $7.6 million for 1 parcel, including the tax class semi-fireproof manufacturing building (F4) at 133-15 35th Avenue in Flushing. The deal closed on September 16, 2019 and was recorded on October 16, 2019.
The property contains a total of 23,095 square feet of built space. The property has 53,900 square feet of available development rights.
The average loan per buildable square foot is $99.
The last time the property sold was December 30, 2009, for $4,000,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link