Developer Ki Tai Yeung transfers 84 Elmhurst condo units in bulk sales totaling $43M

Condo developer Ki Tai Yeung through the entity Elm 53 Tower LLC paid his own Elmhurst Plaza Tower LLC $27.8 million for 54 condo units at 45-11 82nd Street and 45-16 83rd Street in Elmhurst. At the same time, the development sold another 30 units in 11 sales ranging from one to eight units each. The deal closed on September 9, 2020, and was recorded on October 26, 2020.

The total consideration was $42.8 million. The existing loan of $43 million was split and reassigned to the new borrowers. The contract was signed July 27, 2020.

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The signatory for the buyer or lender was Ki Tai Yeung