Guangyang An obtained financing of $17M from Flushing Bank

Guangyang An through the entity The Levitt Street LLC as borrower signed a loan agreement with lender Flushing Bank valued at $17.0 million for 1 parcel, including the tax class luxury type hotel built after 1960 (H2) at 39-16 College Point Blvd in Flushing. The deal closed on August 16, 2019 and was recorded on August 30, 2019.
The property contains a total of 36,655 square feet of built space.
The average loan per buildable square foot is $464.
The last time the property sold was April 29, 2009, for $6,284,525.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 61 hotel units on March 06, 2014.
Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $322,330. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $221,900.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
A recent story on the property. link.