20-unit residential building planned for Flushing

Tanfeng Huang of J&J 147 Realty LLC submitted a new building construction project for a 20-unit, 14,647-square-foot residential (R-2) building at 42-08 147th Street. The plan was filed on September 3, 2022. It calls for the construction of a 67-foot-tall, five-story building and was filed with the New York City Department of Buildings under job number Q07996979. The architect is Li Architect Associate, Pllc. The project is described in the filing as: new five-story residential building of 20 dwelling units, obtain new certificate of occupancy.

The 42-08 147th Street parcel has frontage of 21 feet and is 113 feet deep with a total lot size of 2,446 square feet. The zoning is R6A which allows for up to 3 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1.3 million.

On this tax block, PincusCo has identified the owners of one of the 11 commercial properties representing 36,679 square feet of the 128,608 square feet. The identified owner is Wang Tat Lam. There are three active new building construction projects totaling 58,627 square feet. The largest is a 53-unit, 36,679-square-foot R-2 building developed by Ming Gao with plans filed November 16, 2016 and permitted March 17, 2021. The second largest is a 20-unit, 14,647-square-foot R-2 building developed by Tanfeng Huang with plans filed September 3, 2022 and it has not been permitted yet.

Over the past five years, there have been three NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There has been one new building permit application Those plans include a total of 20 residential or hotel units. There has been one demolition project filed for the parcels over the past five years.

Within a 400-foot radius of 42-08 147 Street, Pincusco identified one commercial real estate item of interests occurred over the past 24 months. It was a loan which Wang Tat Lam borrowed $9 million from Spruce Capital secured by the 36,679-square-foot, 53-unit rental (D1) on 42-18 147th Street on March 12, 2021.