Weitao Shi
FBL Development
Developer, Owner
FBL Development NYC portfolio
$66.6 million* – industrial 50%, development 49%; Queens 100%, Manhattan 0%
1513th largest portfolio by dollar value
4,405 sqft – industrial 100%, development 0%;
6507th largest by SF
2 properties – Queens 100%, Manhattan 0%
3059th largest
52 residential units – Queens 100%, Manhattan 0%
2129th largest by residential units
Person Activity past 24 months:
Buyer signatory: 1 for $10 million
Borrower signatory: 4 for $68.7 million
Developer (new building or major alteration): 14 for 161,735 square feet
Top Ten Associated Companies:
Ponce Bank (4), Antranig Uckardes (1)
Top Ten Associated People:
Steven A. Tsavaris (3), Antranig Uckardes (1)
Recent activity as signatory:
• FBL Development borrowed $25.1 million from Ponce Bank for 43-05/43-11 Crescent Street, Long Island City, Queens on June 26, 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 21-13 31st Street, 21-01 31st Street, 21-07 31st Street, and N/A 21st Avenue, Ditmars Steinway, Queens on November 08, 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, Long Island City, Queens on March 29, 2023.
• Antranig Uckardes sold 43-05 Crescent Street, Long Island City, Queens for $10 million to Weitao Shi and Yong Chen on March 29, 2023.
• FBL Development borrowed $25 million from Ponce Bank for 31-16 21st Street, Astoria, Queens on February 17, 2023.
• Yong Chen and Weitao Shi for Yong Chen filed plans for new building for 51,700 sqft in Astoria, Queens, on October 27, 2022.
Latest Stories:
• 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)