Susanna Shao pays $3.1M to New Empire for LIC commercial condo

Susanna Shao through the entity Nby Lic Lic LLC paid $3.1 million to New Empire Corp. through the entity 3714 Lic Development LLC for office building (CC) at 37-14 34th Street in Long Island City, Queens.
The deal closed on May 7, 2021 and was recorded on June 11, 2021.
The property has 11,963 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $258 per the PincusCo analysis.
The signatory for New Empire Corp. was Stavroula Tsolis. The signatory for Susanna Shao was Susanna Shao.

This is a commercial condo unit. Bentley Zhao, who was listed as a signatory for a previous loan on the building is the founder and president of New Empire Corp.
There was a condominium project filed with the address 37-14 34th Street and the name 37-14 34th Street Condominium (the) on November 14, 2018. The principals of the sponsor, 3714 Lic Development Llc, was Bentley Zhao. link
Within a 400-foot radius of 37-14 34th Street, PincusCo identified five commercial real estate items of interests which occurred over the past 24 months.
Of those five items, one was in new building development. It was a new building permit application filed on October 19, 2020 for a 58,254-square-foot R-2 building with 64 residential units at 37-24 33rd Street.
Of those five items, one was for major renovation including a certificate of occupancy change. It was a permit issued on June 28, 2019 for the $355,000 renovation of the 3,985-square-foot F-2 building with no residential units at 37-24 34th Street.
One of those five items was a sale in which George Xu’s Century Development Group bought the 11,620-square-foot, one-unit industrial (E9) building at 37-24 33rd Street for $13 million from Robyn Freedman, Harold Seligman, Neil Orzeck on January 15, 2020.
Of those five items, two were loans above $5 million totaling $54.3 million. The most recent of the two was The Collective which borrowed $39 million from Areit Wh Ii LLC secured by the 80,200-square-foot, 123-unit hotel (H9) on 35-02 37th Avenue on April 9, 2021.

Direct link to Acris document. link