facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Development Site

/

Loan

/

45 39 Davis Street

Ponce Bank Provides $15.7 Million Loan For Development Site In Long Island City
FINANCEDDevelopment Site

Ponce Bank Provides $15.7 Million Loan For Development Site In Long Island City

45 39 Davis Street

$15,700,000

Building Size

Asset Type

Development Site

Closing

Dec 4, 2025

AI

The transaction involves a development site comprising four addresses: 45-33 Davis St, 45-39 Davis St, 45-43 Davis St, and 45-40 Pearson St, located in the Long Island City market. The total asset size is approximately 115,004 buildable square feet, with a loan amount of $15,700,000 secured through a bridge loan for a term of 1 year, with an option for a 1-year extension.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $15,700,000
  • Loan Type: Bridge
  • Loan Terms: 1 year plus 1 year extension
  • Lender: Yanni Kouzilos & Douglas Romero - Ponce Bank
  • Landlord: Jasper Wu - ZD Jasper

Ponce Bank, represented by Yanni Kouzilos and Douglas Romero, is noted for providing the land financing to their long-term client, ZD Jasper, supporting a new condo development project aimed at addressing the housing shortage in NYC. The bank continues to emphasize its commitment to lending solutions that assist the local community.

Players

Douglas Romero

Ponce Bank

Lender

$739.3M

vol

30 deals

Lender

Jasper Wu

ZD Jasper

Landlord

$666M

vol

21 deals

Landlord
ZD Jasper
ZD JasperLandlord

Long Island City Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.01%

Cash-on-Cash

-0.29%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93