Kevin Ye and Ping Cheung borrow $10.2M from Global Bank for 27-units in Chinatown

Kevin Ye and Ping Cheung through the entity 43 Mott Realty Owner LLC as borrower signed a loan agreement with lender Global Bank valued at $10.2 million for 2 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 27 residential units at 45 Mott Street, 43 Mott Street in Chinatown. The deal closed on September 16, 2020 and was recorded on October 7, 2020.
The property has 18,884 square feet of built space and available development rights.
The average loan per unit is $376,667.
The last time at least one of the properties sold was November 16, 2016, for $8,275,000.

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 were 3 renovation/alteration projects (A2) applied for with a total estimated value of $80,730.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link