Kevin S. Wang borrows $12M from CV Holdings for property in Long Island City

Kevin S. Wang through the entity Operr Plaza, LLC as borrower signed a loan agreement with California lender CV Holdings through its CVCF Fund Funding I-Neb, LLC valued at $12.3 million for 2 parcels, including the tax class office building with commercial with one to six stories (O5) at 37-31 10th Street, 37-20 Prince Street in Long Island City. The deal closed on October 18, 2019 and was recorded on October 24, 2019.
The property contains a total of 25,929 square feet of built space.
The average loan per buildable square foot is $293.
The last time the property sold was May 3, 2018, for $6,900,000.

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. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $495,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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