Chiangs pay $3.5M to Martin A. Gleason Inc. for retail in Auberndale

Ching Kuo Chiang and Jeong Soon Chiang through the entity JC 196 LLC paid $3.5 million to funeral home owner Martin A. Gleason Inc. for the retail building (K7) at 196-01 Northern Boulevard in Auberndale, Queens. The expected use is cash flowing. This property is occupied by Alma Bank.
The deal closed on February 6, 2026 and was recorded on February 27, 2026. The property has 2,912 square feet of built space and 5,128 square feet of additional air rights for a total buildable of 8,012 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,201 and the price per buildable square foot is $436 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 signatory for Martin A. Gleason Inc. was Edward J. Bullard Jr. . The signatories for Ching Kuo Chiang and Jeong Soon Chiang were Ching Kuo Chiang and Jeong Soon Chiang. The contract date was November 14, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Ching Kuo Chiang had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Martin A. Gleason Inc. had not purchased any other properties and had not sold any properties over the same time period.

The property

The retail building in Auberndale has 2,912 square feet of built space and 5,128 square feet of additional air rights for a total buildable of 8,012 square feet according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 163 feet deep with a total lot size of 16,025 square feet. The lot is irregular. The zoning is R3-2 which allows for up to 0.5 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.3 million.

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 $50 in OATH 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 Auberndale, The bulk, or 33 percent of the 1.8 million square feet of commercial built space are specialty buildings, with mixed-use buildings next occupying 18 percent of the space. In sales, Auberndale has the 34th highest sale turnover among other neighborhoods in Queens with $36.4 million in sales volume in the last two years. For development, Auberndale has had very little major development activity relative to other neighborhoods.It had 32,166 square feet of commercial and multi-family construction under development in the last two years, which represents 2 percent of the neighborhood’s built space.

The block

There are no active new building construction projects on this tax block.

The majority, or 64 percent of the 32,351 square feet of built space are retail buildings, with mixed-use buildings next occupying 30 percent of the space.

The buyer

The PincusCo database currently indicates that Jeong Soon Chiang owned at least one commercial property in New York City with 4,100 square feet and a city-determined market value of $1.1 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single retail property. It is located in Queens.

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