Philip Chong’s HCRE signs $51.25M with Shanghai Commercial for Flushing development

HCRE through the entity CW Northern LLC as borrower signed a construction loan modification with lender Shanghai Commercial Bank which reduced the value of the construction loan from $75 million provided in January 2019 to $51.25 million for the development site (V1) at 144-51 Northern Boulevard in Flushing, Queens.
The deal closed on August 17, 2021 and was recorded on August 31, 2021.

The signatory for HCRE was Philip W. Chong.

Philip W. Chong is a principal at HCRE.

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