Kuan He Wu obtained financing of $8M from MORTGAGE WORLD BANKERS

Kuan He Wu through the entity GOOD FORTUNE REALTY OF NEW YORK, LLC as borrower signed a loan agreement with lender MORTGAGE WORLD BANKERS, INC. valued at $8.0 million for 1 parcel, including the tax class professional-type office building (O7) at 42-78 Main Street in Flushing. The deal closed on June 25, 2019 and was recorded on July 10, 2019.
The property contains a total of 34,681 square feet of built space. The property has 34,681 square feet of available development rights.
The average loan per buildable square foot is $231.
The last time the property sold was October 27, 2011, for $8,500,000.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel.There has been one new building permit application totaling 65,293 square feet. Those plans include a total of 39 residential or hotel units. There have been 2 demolition projects filed over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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