Danny Guo pays $4.1M to Kin Keung Ho for residential walkup in Chinatown
96 East Broadway (Credit - Google)
Danny Guo through the entity 96 Global Realty LLC paid $4.1 million to Kin Keung Ho through the entity Just Grand Realty Inc. for nine-unit residential walkup building (C7) at 96 East Broadway in Chinatown, Manhattan.
The deal closed on July 18, 2022 and was recorded on August 5, 2022. The property has 7,625 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $535 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 Kin Keung Ho was Yvonne Tsang. The signatory for Danny Guo was Danny Guo.
Prior sales and revenue
Prior to this transaction, Pincusco has no record that the buyer Danny Guo had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Kin Keung Ho had not purchased any other properties and had not sold any properties over the same time period. The former owner according to the Department of Housing Preservation and Development is Kin Keung Ho, head officer. The business entity is Just Grand Realty Inc. The 7,625-square-foot property generated revenue of $299,429 or $39 per square foot, according to the most recent income and expense figures.
The property
The 96 East Broadway parcel has frontage of 25 feet and is 75 feet deep with a total lot size of 1,890 square feet. The lot is irregular. The city-designated market value for the property in 2022 is $1.3 million.
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Violations and lawsuits
There were no lawsuits or bankruptcies filed against the property since September of 2020. In addition, according to city public data, the property has not received any significant violations in the last year.
Development
There are no active new building construction projects or major alteration projects with initial costs more than $5 million on this tax lot.
The block
On this tax block, PincusCo has identified the owners of two of the 71 commercial properties representing 19,770 square feet of the 410,661 square feet. The two identified owners are Lodavid and Eric Lau.
There is one active new building construction project totaling 63,732 square feet. It is a 63,732-square-foot B building developed by Shing Wah Yeung with plans filed August 14, 2015 and permitted August 29, 2016.
The majority, or 31 percent of the 314,975 square feet of built space are retail buildings, with hotel buildings next occupying 30 percent of the space.
The seller
The PincusCo database currently indicates that Kin Keung Ho owned at least one commercial property in New York City with 4,589 square feet and a city-determined market value of $1.3 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property. It is located in Manhattan.
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