FSA Capital Refinances Development Site At 133-09 37th Avenue With Ponce Bank For $7M

The asset involved in this transaction is a development site located at 133-09 37th Avenue in Flushing, Queens. This site has undergone a refinancing process resulting in a new loan amount of $7,000,000, which replaces the previous debt of $6,600,000. The loan was provided by Ponce Bank.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $7,000,000
• Lender: Ponce Bank
• Landlord: Brian S. Pun - FSA Capital
• Previous Debt: $6,600,000 from Global Bank
• Loan Type: Refinance
• Date: 04/30/2025
• Address: 133-09 37th Avenue
• Market: Flushing, Queens

The refinancing transaction was executed by Brian S. Pun representing FSA Capital, who secured a new loan from Ponce Bank to replace existing financing. This strategic move highlights the ongoing financial management of the development site in the Flushing area.