Weitao Shi
(Steven Shi)
FBL Development
Developer, Owner
142-22 37th Avenue 5th Floor Flushing, NY 11354
FBL Development NYC portfolio
$207.8 million -retail 48%, industrial 26%, development 16%; Queens 99%*
947th largest portfolio by dollar value
45,771 sqft – retail 60%, industrial 33%, office 6%; Queens 100%
3594th largest by SF
14 properties – Queens 100%
736th largest
125 residential units – Queens 100%
1569th largest by residential units
Notes
Weitao Shi owns both Golden Stone Management and FBL Development.
Person Activity past 24 months:
Borrower signatory: 3 for $116.9 million
Developer (new building or major alteration): 6 for 271,809 square feet
Top Ten Associated Companies:
Ponce Bank (5), Antranig Uckardes (1), Preferred Bank (1)
Top Ten Associated People:
Steven A. Tsavaris (4), Antranig Uckardes (1), Sylvia Tseng (1)
Recent activity as signatory:
• Weitao Shi filed plans for new building for 152,607 sqft in Downtown Brooklyn, Brooklyn, on December 19, 2025.
• FBL Development borrowed $65.3 million from Ponce Bank for 31-08 21 Avenue on April 11, 2025.
• FBL Development borrowed $26.5 million from Preferred Bank for 81-07 Kew Gardens Road on March 31, 2025.
• FBL Development borrowed $25.1 million from Ponce Bank for 43-05 Crescent Street on June 07, 2024.
• Weitao Shi filed plans for new building for 104,502 sqft in Ditmars Steinway, Queens, on May 31, 2024.
• Weitao Shi and Yong Chen borrowed $12.6 million from Ponce Bank for 31-08 21 Avenue on October 27, 2023.
• Weitao Shi filed plans for new building for 39,420 sqft in Long Island City, Queens, on July 10, 2023.
• Weitao Shi and Yong Chen borrowed $6 million from Ponce Bank for 43-05 Crescent Street on March 21, 2023.
• Antranig Uckardes sold 43-05 Crescent Street for $10 million to Weitao Shi and Yong Chen on March 21, 2023.
• FBL Development borrowed $25 million from Ponce Bank for 31-16 21 Street on February 03, 2023.
Latest Stories:
• FBL Development signs $26.5M refi for 51-unit mixed-use in Kew Gardens (April 25, 2025)
• Weitao Shi pays $10M for industrial in Long Island City (March 30, 2023)
• Yong Chen pays $10.3M for development site in Astoria (July 06, 2022)