Xiao Ping Chang borrows $26M from S3 Capital for new construction in Astoria

Xiao Ping Chang through the entity 3005 Vernon Blvd Joint Venture LLC as borrower signed a loan agreement with lender S3 Capital valued at $26.0 million for 2 parcels, including the tax class fireproof warehouse (E1) at 30-05 Vernon Boulevard, 43791 Welling Court in Astoria. The deal closed on January 8, 2020 and was recorded on January 16, 2020.

The last time the property sold was February 19, 2014, for $3,000,000.

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 52,405 square feet. Those plans include a total of 67 residential or hotel 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