Jia Shu Xu and Ping Yeung borrow $15M from First Commercial Bank for property in Jamaica

Jia Shu Xu and Ping Yeung through the entity Queens Blvd Estate LLC as borrower signed a loan agreement with lender First Commercial Bank valued at $15 million for 1 parcel, including the tax class luxury type hotel built after 1960 (H2) at 140-35 Queens Boulevard in Jamaica. The deal closed on February 28, 2020 and was recorded on March 10, 2020.
The property contains a total of 116,466 square feet of built space.
The average loan per buildable square foot is $129.
The last time the property sold was September 17, 2014, for $2,885,000.

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 has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link