Zhidong Wu Of ZD Jasper Realty Secures $42M Refinance Loan From Bank Of China For Multifamily Property

The transaction involves a multifamily asset located at 43-15 52nd Street in the Sunnyside area of Queens, featuring a total square footage of 89,752. The property was refinanced with a loan amount of $42,000,000 from the Bank of China, transitioning from a previous loan of $35,000,000 from JPMorgan Chase.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $42,000,000
• Address: 43-15 52nd Street, Sunnyside, Queens
• Lender: Bank of China
• Landlord: Zhidong Wu
• Company: ZD Jasper Realty
• Previous Loan: $35,000,000 from JPMorgan Chase
• Units: 87

The refinancing was conducted through ZD Jasper Realty via ZDJ Woodside 52 LLC, indicating a strategic financial move to improve the terms of the existing mortgage while maintaining ownership of the residential building.