Chris (Jia Shu) Xu Secures $18.5M Construction Loan For Development Site In Flushing, Queens

141-05 32nd Avenue

$18,500,000

Building Size

—

Asset Type

Development Site

Closing

Apr 21, 2026

AI

A construction loan was secured for a development site located at 141-05 32nd Avenue in Flushing, Queens. The site encompasses a building square footage of 36,927 and involves a loan amount of $18,500,000 from Preferred Bank.

Summary of transaction details:

Property Type: Development Site
Transaction Amount: $18,500,000
Lender: Preferred Bank
Landlord: Chris (Jia Shu) Xu - United Construction & Development Group; New Land Capital

United Construction & Development Group and New Land Capital executed the transaction through 32nd Ave Holding LLC, facilitating the financial arrangement for the development site in question.

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