Henry Zheng, Catherline Zheng borrow $17M from Royal Business Bank to refi property in Jackson Heights

Henry Zheng and Catherline Zheng through the entity Henderson Holding Group LLC as borrower signed a loan agreement with lender Royal Business Bank valued at $17.2 million for 5 parcels, including the tax class one-story store building (K1) and four commercial condominium units at 84-01 Roosevelt Avenue and 140-75 Ash Avenue in Jackson Heights. The deal closed on April 9, 2020 and was recorded on April 14, 2020.
The property has 55,630 square feet of available development rights.
The average loan per buildable square foot is $309.
The last time the property sold was June 7, 2018, for $19,100,000.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $577,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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