Jin Xiao Chen Acquires Commercial Property In Downtown Flushing, Queens For $4.15M

Located in Downtown Flushing, Queens, the commercial property at 133-44 37th Ave was recently sold in a closed transaction on June 30, 2022. The property has a zoning classification of C4-2, making it suitable for commercial use. With a lot size of 1,515 square feet and dimensions of 20 ft x 75.76 ft, the property offers ample space for business operations.

Summary of transaction details

• Property Type: Commercial
• Transaction Amount: $4,150,000
• Building Square Footage: 4,878
• Price per Square Foot: $850
• Price per Buildable Square Foot: $805
• Floor Area Ratio (FAR): 3.22
• Tax Class: 4

The buyer of the property is Jin Xiao Chen, while the seller is John J. Park. The property was purchased at a price of $4,150,000, with a building square footage of 4,878. The price per square foot for the property is $850, and the price per buildable square foot is $805. The property's floor area ratio (FAR) is 3.22, indicating the amount of floor space that can be built in relation to the lot size. The property falls under tax class 4.

It is worth noting that the property was previously sold on February 1, 2008, for $2,421,088. An alteration permit was also issued on June 29, 2016, allowing for modifications to the property. The transaction represents a significant increase in the property's value since its last sale.