Updated Jun 26, 2025
Alex Lau, Steven Li & Jeff Zheng Of Montperia Group Secure $15.1M Construction Loan From Cathay Bank For Development Site In Long Island City
42 76 Hunter Street
$15,100,000
Building Size
—
Asset Type
Development Site
Closing
Jun 19, 2025
About this deal
AI
The property asset involved in this transaction is a development site located at 42-76 Hunter Street, situated in the Long Island City market. The loan amount secured for this site is $15,100,000, classified as a construction loan.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $15,100,000
- Lender: Cathay Bank
- Landlord: Alex Lau, Steven Li & Jeff Zheng - Montperia Group
- Loan Type: Construction
The key individuals involved in this deal include Alex Lau, Steven Li, and Jeff Zheng, who represent the Montperia Group. They are the landlords in this transaction, securing essential financing for their development plans.
On the Map
$15,100,000
Development Site
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Players
Long Island City Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.05%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93