Sandhu Group signs $142.3M refi with Chase for five properties in NYC

Sandhu Group through the entity 218 St Ny LLC as borrower signed a refi loan with lender JPMorgan Chase through the entity Jpmorgan Chase Bank, National Association valued at $142.3 million for five properties with 76 residential units including the hotel building (H3) at 104-16 Tuckerton Street in Jamaica, Queens, hotel building (HR) at 1591 East 233rd Street in Eastchester, Bronx, and eight-unit hotel building (HH) at 4510 White Plains Rd in Wakefield, Bronx.
The deal closed on November 14, 2025 and was recorded on November 21, 2025. The prior lenders included Amalgamated Bank.

The five properties have 187,171 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $760 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Sandhu Group was Jaspinder K. Sandhu . The signatory for JPMorgan Chase was Jessica Wong .

Prior sales and revenue

Out of the five properties, two with a total of 187,171 square feet of built space generated revenue of $6.4 million per year.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received $13,750 in ECB penalties and $64,430 in OATH penalties in the last year.

Development

For the tax lot buildings, one out of the five buildings received a initial certificate of occupancy in the last ten years. On these lots, there are seven active new building construction projects and major alteration projects with initial costs more than $5 million, totaling 115,894 square feet. The largest, 421689319, is a new building project for a 120-unit, 36,670 square-foot R-1 building submitted by Amritpal Sandhu and filed by Amritpal Sandhu with plans filed November 8, 2018 and it has not been permitted yet. The second largest, 210180597, is a major alteration project for a eight-unit, 29,469 square-foot R-1 building submitted by Tejpal Sandhu with plans filed January 9, 2020 and permitted November 10, 2020.

The neighborhood

In Jamaica, The bulk, or 34 percent of the 29.2 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 14 percent of the space. In sales, Jamaica has near average sales volume among other neighborhoods with $256.4 million in sales volume in the last two years and is the 11th highest in Queens. For development, Jamaica has 1.6 times the average amount of major developments relative to other neighborhoods and is the 4th highest in Queens. It had 2.4 million square feet of commercial and multi-family construction under development in the last two years, which represents 8 percent of the neighborhood’s built space.

The block

On the tax block of 104-16 Tuckerton Street, PincusCo has identified the owners of six of the 10 commercial properties representing 65,417 square feet of the 83,985 square feet. The largest owner is Jaspinder Sandhu, followed by Sandhu Group and then Maria Wolf Of Alicia Cornali.
On the tax block, there were three new building construction projects totaling 93,130 square feet. The largest is a 55,526 square-foot storage (S-1) building submitted by Robert Poole with plans filed June 23, 2016 and it has not been permitted yet. The second largest is a 120-unit, 36,670 square-foot hotel/dormitory/shelter (R-1) building submitted by Amritpal Sandhu and filed by Amritpal Sandhu with plans filed November 8, 2018 and it has not been permitted yet.

The majority, or 73 percent of the 83,985 square feet of built space are hotel buildings, with mixed-use buildings next occupying 14 percent of the space.

The borrower

The PincusCo database currently indicates that Sandhu Group owned at least nine commercial properties with 90 residential units in New York City with 40,064 square feet and a city-determined market value of $6.8 million. (Market value is typically about 50% of actual value.) The portfolio has $70.3 million in debt, with top three lenders as Tideway Capital Group, Hanmi Bank, and Crown Bank respectively. Within the portfolio, the bulk, or 69 percent of the 40,064 square feet of built space are hotel properties, with office properties next occupying 15 percent of the space. The bulk, or 69 percent of the built space, is in Queens, with Brooklyn next at 31 percent of the space.

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