John J. Xu obtained financing of $8M from S3 RE Funding II LLC

John J. Xu through the entity Fowler Develop LLC as borrower signed a loan agreement with lender S3 Re Funding Ii LLC valued at $8.0 million for 1 parcel, including the tax class primarily two family with store or office (S2) at 131-19 Fowler Avenue in Flushing. The deal closed on July 22, 2019 and was recorded on August 09, 2019.
The property contains a total of 22,880 square feet of built space. The property has 22,880 square feet of available development rights.
The average loan per buildable square foot is $350.
The last time the property sold was January 17, 2019, for $5,000,000.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000.There has been one new building permit application totaling 22,656 square feet. Those plans include a total of 30 residential or hotel units. There have been 2 demolition projects filed over the past five years. The demolition included 2 residential units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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