Bentley Zhao Of New Empire Secures $20,075,000 Loan For Development Site In Manhattan

The property asset involved in this transaction is a development site located at 10 East 30th Street in Manhattan. The site has a built square footage of 85,133 and is designated for condo development. The loan amount secured for this acquisition is $20,075,000, with a loan term of 2 years.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $20,075,000
• Market: Manhattan
• Lender: Yanni Kouzilos & Douglas Romero - Ponce Bank
• Landlord: Bentley Zhao - New Empire
• Broker: Robert Knakal - BKREA
• Lender's Attorney: Jane Chen - The Usinger Law Practice PLLC

Key individuals involved in the deal include Yanni Kouzilos and Douglas Romero, who represent the lender, Ponce Bank, known for providing active construction financing. Bentley Zhao is associated with New Empire, indicating his role as the landlord for this project. Robert Knakal serves as the broker for the transaction, facilitating the deal on behalf of the landlord.