Weitao Shi
FBL Development
Developer, Owner
FBL Development portfolio
(NYC’s “Market Value,” 50% or less of actual value)
$2 million – development 67%, industrial 32%; Queens 100%, Manhattan 0%
5419th largest portfolio by dollar value
4,405 sqft – industrial 100%, development 0%;
6443th largest by SF
2 properties – Queens 100%, Manhattan 0%
155th largest
52 residential units – Queens 100%, Manhattan 0%
746th largest by residential units
Person Activity past 24 months:
Buyer signatory: 1 for $10 million
Seller signatory: 0 for $0
Borrower signatory: 4 for $68.7 million
Lender signatory: 0 for $0
Developer (new building or major alteration): 2 for 143,922 square feet
Top Ten Associated Companies:
Ponce Bank (4), Antranig Uckardes (1)
Top Ten Associated People:
Steven A. Tsavaris (3), Antranig Uckardes (1)
Recent activity as signatory:
• FBL Development borrowed $25.1 million from Ponce Bank for 43-05/43-11 Crescent Street, Long Island City, Queens on June 26, 2024.
• Weitao Shi filed plans for new building for 104,502 sqft in Ditmars Steinway, Queens, on May 31, 2024.
• Weitao Shiand Yong Chen borrowed $12.6 million from Ponce Bank for 21-13 31st Street, 21-01 31st Street, 21-07 31st Street, and N/A 21st Avenue, Ditmars Steinway, Queens on November 08, 2023.
• Weitao Shi filed plans for new building for 39,420 sqft in Long Island City, Queens, on July 10, 2023.
• Yong Chenand Weitao Shi for Yong Chen filed plans for major alteration for 37,939 sqft in Queens, on April 28, 2023.
• Weitao Shiand Yong Chen borrowed $6 million from Ponce Bank for 43-05 Crescent Street, Long Island City, Queens on March 29, 2023.
• Antranig Uckardes sold 43-05 Crescent Street, Long Island City, Queens for $10 million to Weitao Shiand Yong Chen on March 29, 2023.
• FBL Development borrowed $25 million from Ponce Bank for 31-16 21st Street, Astoria, Queens on February 17, 2023.
• Yong Chenand Weitao Shi for Yong Chen filed plans for new building for 51,700 sqft in Astoria, Queens, on October 27, 2022.