Hua Shan Chen signs $15M condo inventory loan with CTBC Bank for 50 units in Borough Park

Hua Shan Chen through the entity Delta Towers Enterprises, LLC as borrower signed a refi loan with lender CTBC Bank valued at $15 million for 50 condo units at 4001 New Utrecht Avenue in Borough Park, Brooklyn.
The deal closed on November 19, 2021 and was recorded on December 27, 2021.
One unit is a parking garage and the other 49 are residential condo units.
The signatory for Hua Shan Chen was Hua Shan Chen. The signatory for CTBC Bank was Yintung “Tony” Chang.

Within a 400-foot radius of 960 40th Street, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a new building permit issued on December 22, 2020 for a 14,677-square-foot R-2 building with 10 residential units at 4023 10th Avenue.

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