Victor Peng & Yi Hua Chen Secure $32 Million Refinance From Cathay Bank For Flushing Industrial Properties

The asset involved in this transaction consists of seven industrial properties located at 133-16 35th Avenue, 134-01 Northern Boulevard, and 34-69 Collins Place in Flushing, Queens. The total built square footage amounts to 66,423, with a total of 112,387 buildable square feet. The loan amount for the refinance transaction is $32,000,000. The transaction closed on March 17, 2026.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $32,000,000
• Lender: Cathay Bank
• Landlord: Victor Peng & Yi Hua Chen
• Loan Type: Refinance
• Date of Transaction: March 17, 2026

Victor Peng and Yi Hua Chen, represented by 133-16 35 Ave LLC, secured the financing through Cathay Bank. This transaction reflects their strategic financial approach to managing multiple properties in a competitive industrial market.