Peter Liang borrows $6M from CTBC Bank to refi multifamily property in Lower East Side

Peter Liang through the entity 98 Allen Realty Inc. as borrower signed a loan agreement with lender CTBC Bank Corp. valued at $6 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 15 residential units at 99 Orchard Street in Lower East Side. The deal closed on April 30, 2020 and was recorded on May 5, 2020.
The property contains a total of 8,435 square feet of built space. The property has 8,718 square feet of available development rights.
The average loan per unit is $400,000.

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. There was one renovation/alteration project (A2) applied for with a total estimated value of $30,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link