Wei Chen Of Amara Holding Group Secures $6.48 Million Loan For Development Site In Sunnyside

The asset involved in this transaction is a development site located at 3939 Queens Boulevard in the Sunnyside market. The property encompasses a building square footage of 38,000 and a total square footage of 9,500, with a loan amount of $6,480,000 for its acquisition. The loan terms specify a duration of 1 year plus an additional year.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $6,480,000
• Address: 3939 Queens Boulevard
• Market: Sunnyside
• Asset Size: BSF 38,000 ~ SF 9,500
• Lender: Yanni Kouzilos & Douglas Romero - Ponce Bank
• Landlord: Wei Chen - Amara Holding Group & Xiao Hu
• Broker: Cole Kinney Leonhardt - Brax Realty
• Lender's Attorney: Antonia Constantinou - Coritsidis Sotirakis & Saketos & PLLC
• Landlord's Attorney: Danielle Greco - Peraino Malinowski LLP

Notable individuals involved in the deal include the lender representatives Yanni Kouzilos and Douglas Romero from Ponce Bank, who provided the financing. The landlord, Wei Chen of Amara Holding Group, is working alongside Xiao Hu. The brokerage services were rendered by Cole Kinney Leonhardt from Brax Realty, while Antonia Constantinou acted as the attorney for the lender, and Danielle Greco represented the landlord.