ZD Jasper signs $42M refi for new 87-unit rental in Sunnyside

ZD Jasper Realty through the entity ZDJ Woodside 52 LLC as borrower signed a refi loan with lender Bank of China valued at $42 million for the 87-unit residential elevator building (D6) at 43-15 52nd Street in Sunnyside, Queens.
The deal closed on December 29, 2025 and was recorded on January 15, 2026. The prior lender was JPMorgan Chase which held debt that had an original loan amount of $35 million.The property has 89,752 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $467 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on December 15, 2021, for $9.7 million. The signatory for ZD Jasper Realty was Zhidong Wu . The signatory for Bank of China was Raymond Qiao .

Prior sales, articles and revenue

The owners according to the Department of Housing Preservation and Development includes Zhidong Wu, head officer and Alex Ljajcevic, site manager. The business entities are Andover Property Management and Zdj Woodside 52 Llc. The 89,752-square-foot property generated revenue of $3.1 million or $34 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 87 residential units in Sunnyside has 89,752 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 150 feet and is 100 feet deep with a total lot size of 15,000 square feet. The zoning is R7A which allows for up to 4 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $14.8 million. The property has 24 rent regulated units according to city tax records from 2024.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received six housing violations and $875 in OATH penalties in the last year.

Development

On the lot, there was one new building construction project, Q00649207, for a 87-unit, 68,999 square-foot R-2 building. The project was submitted by Kathy Ho with plans filed January 13, 2022 and permitted July 1, 2022.

The block

On this tax block, PincusCo has identified the owners of nine of the 18 commercial properties representing 113,521 square feet of the 179,180 square feet. The largest owner is George Tsilogiannis, followed by Peter Asadourian and then Ivan Turkalj.
On the tax block, there were four new building construction projects totaling 127,208 square feet. The largest is a 87-unit, 68,999 square-foot residential (R-2) building submitted by Kathy Ho with plans filed January 13, 2022 and permitted July 1, 2022. The second largest is a 32-unit, 24,547 square-foot residential (R-2) building submitted by Ivan Turkalj with plans filed August 17, 2022 and permitted January 10, 2024.

The majority, or 48 percent of the 179,180 square feet of built space are elevator buildings, with walkup buildings next occupying 47 percent of the space.

The borrower

The PincusCo database currently indicates that Zd Jasper Realty owned at least 28 commercial properties with 488 residential units in New York City with 271,604 square feet and a city-determined market value of $67.1 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 46 percent of the 271,604 square feet of built space are industrial properties, with elevator properties next occupying 18 percent of the space. The bulk, or 82 percent of the built space, is in Queens, with Manhattan next at 18 percent of the space.

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