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Biggest NYC Outer Borough Real Estate Loans in August 2022
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Andrew Chung Lands Major Refi for LIC Last-Mile Project
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NYC s 10 Largest Outer-Borough Loans in March 2021
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Innovo Property Group’s Andrew Chung and the LIC property (IPC)
Long Island City may have lost out on Amazon’s corporate campus, but the area is quickly becoming New York’s unofficial package headquarters.
Andrew Chung’s Innovo Property Group plans to build an 842,175-square-foot, five-story warehouse at 23-30 Borden Avenue in Long Island City. The last-mile distribution facility will have three stories of industrial space and two stories of studio and accessory space, according to plans filed with the Department of Buildings.
Innovo partnered with Atalaya Capital Management and Hong Kong-based Nan Fung Group to buy the property about two years ago for $75 million from Atlas Capital Group.