Jeffrey Lam borrows $14M from East West Bank to acquire commercial property in Chinatown

Jeffrey Lam of Lam Generation through the entity LG Chrystie LLC as borrower signed a loan agreement with lender East West Bank valued at $14.0 million for 1 parcel, including the tax class office building with commercial with one to six stories (O5) at 55 Chrystie Street in Chinatown. The deal closed on April 13, 2020 and was recorded on April 22, 2020.
The property contains a total of 41,872 square feet of built space.
The average loan per buildable square foot is $334.

Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $154,620.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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