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Ponce Bank Provides $30 Million Bridge Loan To Chris Xu In Long Island City

Property Image
FINANCED
$30,000,000
DR
YK

New York

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Note / Loan407,790 SF
Financed 09/30/2025
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Property Image
FINANCED

Ponce Bank Provides $30 Million Bridge Loan To Chris Xu In Long Island City

4250 24th Street

See Similar Deals
Note / Loan407,790 SF
Financed 09/30/2025
DR
YK
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Note / Loan
Price Per Square Foot:$73
Total Square Footage:407,790 SF
Transaction Type:Loan

The asset involved in the transaction is a Note/Loan located at 4250 24th Street in Long Island City. The total square footage of the property is 407,790. The loan amount associated with this asset is $30,000,000, and it is classified as a bridge loan with revolving terms.

Summary of transaction details:

  • Property Type: Note / Loan
  • Transaction Amount: $30,000,000
  • Address: 4250 24th Street
  • Market: Long Island City
  • Lender: Yanni Kouzilos & Douglas Romero - Ponce Bank; Lily Guo - ICross
  • Landlord: Chris Xu - United Construction & Development
  • Attorneys: Jane Chen - The Usinger Law Practice PLLC & Kevin Monaghan - Donovan LLP
  • Loan Type: Bridge
  • Loan Terms: Revolving

Ponce Bank, represented by Yanni Kouzilos and Douglas Romero, provided this loan to their long-time client, Lily Guo of ICross. The bank is recognized as one of the most active construction lenders in NYC and is dedicated to alleviating the housing shortage in the city while supporting the local community.

Players

DR
Ponce Bank
Douglas Romero
29 deals$729.3M volume
LENDER
YK
Ponce Bank
Yanni Kouzilos
20 deals$475.8M volume
LENDER
iCross Capital
iCross Capital
LENDER
United Construction & Development Group
United Construction & Development Group
LANDLORD

Details

FINANCED
IMAGE: Yanni Kouzilos, Lily Guo & Douglas Romero DATE: 9/30/2025 ADDRESS: 4250 24th Street MARKET: Long Island City ASSET TYPE: Note / Loan ~ SF: 407,790 LENDER: Yanni Kouzilos & Douglas Romero - Ponce Bank; Lily Guo - ICross LANDLORD: Chris Xu - United Construction & Development ATTORNEY: Jane Chen - The Usinger Law Practice PLLC & Kevin Monaghan - Donovan LLP LOAN AMOUNT: $30,000,000 LOAN TYPE: Bridge LOAN TERMS: Revolving NOTE FROM LENDER: Ponce Bank, A CDFI Bank and one of the most active construction lender in NYC, provided its long time client. Lily Guo, ICross, a 30 million note on note financing. Ponce Bank continue its mission to bring active lending solution to alleviate NYC housing shortage and to support local community.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$30,000,000.00

Monthly NOI$200,000.00
Monthly Debt Service$189,620.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00