Wen Du, operating through MB Grayson LLC, secured a $36 million refinancing loan from the Industrial and Commercial Bank of China for the 128-unit residential elevator building located at 247 East 28th Street in Kips Bay, Manhattan. The multifamily property spans a total square footage of 108,614 and is situated in the desirable neighborhood of Kips Bay, Manhattan.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $36,000,000
• Address: 247 East 28th Street
• Market: Kips Bay, Manhattan
• Lender: Amy Tsang-Tong & Teddy Long - Industrial & Commercial Bank Of China
• Landlord: Wen Du
• Loan Type: Refinance

The loan was provided by Amy Tsang-Tong and Teddy Long of the Industrial & Commercial Bank of China. Wen Du, the landlord, obtained the financing through MB Grayson LLC, securing a substantial refinancing loan for the residential building at 247 East 28th Street.