Chen Xi Li pays $4.5M for mixed-use in Flushing

Chen Xi Li through the entity Teng Di NY 99 LLC paid $4.5 million to Jong Yoon through the entity Yn World, LLC for the two-unit mixed-use building (K4) at 37-02 Prince Street in Flushing, Queens. The expected use is cash flowing.
The deal closed on June 9, 2026 and was recorded on June 22, 2026. The property has 3,777 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $1,191 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The seller bought the property on December 22, 2006, for $2.7 million. The signatory for Jong Yoon was Jong S. Yoon . The signatory for Chen Xi Li was Chen Xi Li. The contract date was April 1, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Chen Xi Li had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Jong Yoon had not purchased any other properties and had not sold any properties over the same time period. The 3,777-square-foot property generated revenue of $206,919 or $55 per square foot, according to the most recent income and expense figures.

The property

The mixed-use building with 2 residential units in Flushing has 3,777 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 23 feet and is 41 feet deep with a total lot size of 1,004 square feet. The lot is irregular. The zoning is C4-2 which allows for up to 3.4 times floor area ratio (FAR) for commercial and up to 2.43 times FAR for residential. The city-designated market value for the property in 2022 is $896,000.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $1,250 in ECB penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Flushing, The bulk, or 45 percent of the 37.7 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 20 percent of the space. In sales, Flushing has 2.1 times the average sales volume among other neighborhoods with $744.4 million in sales volume in the last two years and is the 3rd highest in Queens. For development, Flushing has 1.8 times the average amount of major developments relative to other neighborhoods and is the 4th highest in Queens. It had 3 million square feet of commercial and multi-family construction under development in the last two years, which represents 8 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of three of the 22 commercial properties representing 52,836 square feet of the 137,513 square feet. The largest owner is A&E Real Estate Holdings , followed by Sunlight Development and then Jin Xiao Chen.
On the tax block, there were five new building construction projects totaling 2,115,965 square feet. The largest is a 338-unit, 681,399 square-foot hotel/dormitory/shelter (R-1) building submitted by F&T Group and filed by Sunny Chiu with plans filed March 13, 2015 and permitted January 25, 2019. The second largest is a 187-unit, 681,399 square-foot residential (R-2) building submitted by F&T Group and filed by Sunny Chiu with plans filed March 16, 2015 and permitted July 26, 2017.

The majority, or 31 percent of the 137,513 square feet of built space are walkup buildings, with mixed-use buildings next occupying 30 percent of the space.

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