Jerry Jue Wang borrows $9M from Provident Bank for warehouse in College Point

Jerry Jue Wang through Bao Jia Holding LLC as borrower signed a loan agreement with lender Provident Bank valued at $9.5 million for 1 parcel, including the tax class miscellaneous warehouse (E9) at 121-16 28th Avenue in College Point. The deal closed on September 30, 2020 and was recorded on December 2, 2020.
The property contains a total of 89,033 square feet of built space.
The average loan per buildable square foot is $107.
The financing included at $2.9 million gap mortgage.
The last time the property sold was February 1, 2017 for $3,296,800.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $51,000.

Direct link to Acris document. link