Ping Jiang signs $20M loan with Valley National Bank for industrial in Laurelton

Ping Jiang through Epic RE Holdco, LLC as borrower signed a loan with lender Valley National Bank valued at $20 million for the industrial (F1) building at 227-15 North Conduit Avenue in Laurelton, Queens.
The deal closed on April 7, 2021 and was recorded on May 4, 2021.
The property has 108,350 square feet of built space and 0 square feet of additional air rights for a total buildable of 106,191 square feet according to PincusCo analysis of city data. The loan price per built square foot is $184 per the PincusCo analysis.
The owner sold an interest in the property on June 21, 2016, valued at $21 million to Humanwell Healthcare USA, but the document does not specify what interest was transferred.

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