Jin Ping Zhu borrows $14M from Amerasia Bank for retail property in Flushing

Jin Ping Zhu through the entity Lin Zhu LLC as borrower signed a loan agreement with lender Amerasia Bank valued at $13.7 million for 1 parcel, including the tax class one-story store building (K1) at 41-16 Main Street in Flushing. The deal closed on July 29, 2020 and was recorded on October 14, 2020.
The property contains a total of 7,600 square feet of built space. The property has 18,468 square feet of available development rights.
The average loan per buildable square foot is $742.

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 was one renovation/alteration project (A2) applied for with a total estimated value of $315,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link