Howard Ng, Chung Ng sign $6.7M refi with Goldman Sachs for 11-unit walkup in Williamsburg

Howard Ng and Chung Ng through the entity Canton 270 LLC as borrower signed a refi loan with lender Goldman Sachs through the entity Goldman Sachs Bank USA valued at $6.7 million for the 11-unit residential walkup building (C1) at 270 Manhattan Avenue in Williamsburg, Brooklyn.
The deal closed on April 21, 2026 and was recorded on April 23, 2026. The prior lender was Emerald Creek Capital which held debt that had an original loan amount of $6.2 million.The property has 10,290 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $653 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on April 30, 2015, for $3.6 million. The signatory for Howard Ng and Chung Ng was Howard Ng. The signatory for Goldman Sachs was James M. Abbee .

Prior sales, articles and revenue

The 10,290-square-foot property generated revenue of $412,673 or $40 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 11 residential units in Williamsburg has 10,290 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 50 feet and is 100 feet deep with a total lot size of 5,000 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $2.8 million. Goldman Sachs on April 21, 2026 bought a loan with an original principal of $6.2 million from Emerald Creek Capital signed by Mark Penna, secured by 270 Manhattan Avenue, when owned by Howard Ng and Chung Ng.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $950 in OATH penalties in the last year.

Development

On the lot, there was a new building construction project, 320909451, for an 11-unit, 9,546 square-foot residential (R-2) building. The project was submitted by Howard Ng with plans filed September 20, 2015 and permitted November 8, 2019.

The block

On this tax block, PincusCo has identified the owners of five of the 17 commercial properties representing 34,879 square feet of the 82,134 square feet. The largest owner is Kris Corey, followed by Cono Natale and then Chung Ng.
On the tax block, there were two new building construction projects totaling 14,417 square feet. The largest is a 11-unit, 9,546 square-foot residential (R-2) building submitted by Howard Ng with plans filed September 20, 2015 and permitted December 12, 2017. The second largest is a two-unit, 4,871 square-foot residential (R-3) building submitted by Sydney Blumstein with plans filed May 7, 2020 and it has not been permitted yet.

The majority, or 62 percent of the 82,134 square feet of built space are walkup buildings, with mixed-use buildings next occupying 31 percent of the space.

The borrower

The PincusCo database currently indicates that Chung Ng owned at least one commercial property with 22 residential units in New York City with 20,580 square feet and a city-determined market value of $17.9 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property.
The PincusCo database currently indicates that Howard Ng owned at least one commercial property with 22 residential units in New York City with 20,580 square feet and a city-determined market value of $17.9 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property.

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