Xiaozheng Tang obtained financing of $14M from Cathay Bank

Xiaozheng Tang through the entity 62-41 Forest Avenue LLC as borrower signed a loan agreement with lender Cathay Bank valued at $14.2 million for 1 parcel, including the tax class land not zoned residential or Manhattan below 110th Street (V1) and containing 44 residential units at 62-49 Forest Avenue in Ridgewood. The deal closed on July 18, 2019 and was recorded on July 30, 2019.
The property contains a total of 41,912 square feet of built space.
The average loan per unit is $322,727.
The last time the property sold was July 29, 2014, for $3,800,000.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 42 residential (or hotel) units on March 22, 2019.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

Share this article