W&L Group through Yong Hang Wang as signatory borrows $71M from G4 Capital Partners for new construction in Bensonhurst

W&L Group with Yong Hang Wang as signatory through the entity Cropsey Partners LLC as borrower signed a construction loan agreement with lender G4 Capital Partners through the entity G4 18198, LLC valued at $71 million for 1 parcel, including the tax class land zoned residential, except not Manhattan below 110th Street (V0) at 2300 Cropsey Avenue in Bensonhurst. The deal closed on January 14, 2020 and was recorded on January 31, 2020.

This is a construction loan. The last time the property sold was January 16, 2014, for $19,059,625.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There has been one new building permit application totaling 239,426 square feet. Those plans include a total of 154 residential units. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

Correction: The neighborhood was corrected, and is now Bensonhurst.