FBL Development

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$2 million* – development 67%, industrial 32%; Queens 100%, Manhattan 0%

5458th largest portfolio by dollar value

4,405 sqft – industrial 100%, development 0%;

6491th largest by SF

2 properties – Queens 100%, Manhattan 0%

3992th largest

52 residential units – Queens 100%, Manhattan 0%

2148th largest by residential units

Borrower company: 2 for $50.1 million

• FBL Development borrowed $25.1 million from Ponce Bank for 43-05/43-11 Crescent Street, Long Island City, Queens on June 26, 2024.

• FBL Development for Weitao Shi filed plans for new building for 104,502 sqft in Ditmars Steinway, Queens, on May 31, 2024.

• FBL Development borrowed $25 million from Ponce Bank for 31-16 21st Street, Astoria, Queens on February 17, 2023.

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*The Portfolio Value is the city’s Market Value, which is typically 50% or less of actual market value.

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