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Lily Guo Of ICross Secures $25 Million Loan From Ponce Bank For Long Island City Property

Property Image
FINANCED
$25,000,000
Lily Guo
DR

New York

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Note / Loan192,316 SF
Financed 05/14/2025
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Property Image
FINANCED

Lily Guo Of ICross Secures $25 Million Loan From Ponce Bank For Long Island City Property

45 40 Vernon Boulevard

See Similar Deals
Note / Loan192,316 SF
Financed 05/14/2025
Lily Guo
DR
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Note / Loan
Price Per Square Foot:$130
Total Square Footage:192,316 SF
Transaction Type:Loan

The asset involved in the transaction is a Note / Loan located at 45-40 Vernon Boulevard in the Long Island City market, encompassing a total square footage of 192,316. The loan amount associated with this asset is $25,000,000, characterized as a revolving note on note financing.

Summary of transation details:

  • Property Type: Note / Loan
  • Transaction Amount: $25,000,000
  • Loan Type: Note on note
  • Loan Terms: Revolving
  • Lender: Ioannis “Yanni” Kouzilos & Douglas Romero - Ponce Bank
  • Landlord: Lily Guo - ICross
  • Lender's Attorney: Jane Chen, Esq., Partner - The Usinger Law Practice PLLC

Ponce Bank, represented by Ioannis “Yanni” Kouzilos and Douglas Romero, extended its financing services to long-term client Lily Guo of ICross through this transaction, highlighting the bank's activity as a construction lender in New York City.

Players

DR
Ponce Bank
Douglas Romero
30 deals$739.3M volume
LENDER
Ponce Bank
Ponce Bank
LENDER
Ponce Bank
Ponce Bank
LENDER

Details

FINANCED
IMAGE: Yanni Kouzilos, Douglas Romero & Lily Guo DATE: 5/15/2025 ADDRESS: 45-40 Vernon Boulevard MARKET: Long Island City ASSET TYPE: Note / Loan ~ SF: 192,316 LENDER: Ioannis “Yanni” Kouzilos & Douglas Romero - Ponce bank LANDLORD: Lily Guo - ICross LENDER"S ATTORNEY: Jane Chen, Esq., Partner, - The Usinger Law Practice PLLC LOAN AMOUNT: $25,000,000 LOAN TYPE: Note on note LOAN TERMS: revolving NOTE FROM LENDER: Ponce Bank, the most active construction lender in NYC, provided its long term client. Lily Guo, ICross, a 25 million note on note financing. /Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$25,000,000.00

Monthly NOI$166,666.67
Monthly Debt Service$158,017.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00