FBL Development
People:
FBL Development NYC portfolio
$153.5 million* – retail 56%, industrial 21%, development 21%; Queens 100%
940th largest portfolio by dollar value
13,215 sqft – retail 66%, industrial 33%;
4943th largest by SF
6 properties – Queens 100%
1267th largest
52 residential units – Queens 100%
2206th largest by residential units
Company Activity past 24 months:
Borrower company: 3 for $116.9 million
Developer (new building or major alteration): 1 for 104,502 square feet
Top Ten Associated Companies:
Ponce Bank (3), Preferred Bank (1)
Top Ten Associated People:
Steven A. Tsavaris (3), Sylvia Tseng (1)
Recent activity as company:
• FBL Development borrowed $65.3 million from Ponce Bank for 21-01/21-19 31st Street, Ditmars Steinway, Queens on April 11, 2025.
• FBL Development borrowed $26.5 million from Preferred Bank for 81-07 Kew Gardens Road, 81-07 Kew Gardens Road, and 81-07 Kew Gardens Road, Kew Gardens, Queens on March 31, 2025.
• FBL Development borrowed $25.1 million from Ponce Bank for 43-05/43-11 Crescent Street, Long Island City, Queens on June 07, 2024.
• FBL Development for Weitao Shi filed plans for new building for 104,502 sqft in Ditmars Steinway, Queens, on May 31, 2024.
• FBL Development borrowed $25 million from Ponce Bank for 31-16 21st Street, Astoria, Queens on February 03, 2023.
Latest Stories:
• FBL Development signs $26.5M refi for 51-unit mixed-use in Kew Gardens (April 25, 2025)
• Weitao Shi pays $10M for industrial in Long Island City (March 30, 2023)
• Yong Chen pays $10.3M for development site in Astoria (July 06, 2022)
Properties: