Yunlong Li borrows $10M from Global Bank to refi new multifamily property in Bayside

Yunlong Li through the entity 35 Ave Bay Inc. as borrower signed a loan agreement with lender Global Bank through the entity Global Bank valued at $9.6 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 16 residential units at 214-11 35th Avenue in Bayside. The deal closed on March 30, 2020 and was recorded on April 14, 2020.
The property contains a total of 29,405 square feet of built space.
The average loan per unit is $600,000.
The loan package includes $8.4 million assigned from Titan Capital to Global, and $1.2 million in a new loan. The last time the property sold was September 3, 2014, for $3,150,000.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 16 residential units on June 25, 2019.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $100,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link