Jason Wang, Shufang Zu pay $4.8M to Robert Nathin for mixed-use in Chinatown

Jason Wang and Shufang Zu through the entity Dbmj 47 Bayard St LLC paid $4.8 million to Robert Nathin through the entity Louis Nathin Inc. for the four-unit mixed-use building (K4) at 47 Bayard Street in Chinatown, Manhattan. The expected use is cash flowing.
The deal closed on March 27, 2025 and was recorded on April 22, 2025. The property has 8,512 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $563 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 Robert Nathin was Robert Nathin. The signatory for Jason Wang and Shufang Zu was Jason Wang and Shufang Zu. The contract date was December 9, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Jason Wang purchased one property in one transaction for a total of $6.6 million and has no record it sold any properties over the past 24 months.
The seller Robert Nathin had not purchased any other properties and had not sold any properties over the same time period. The 8,512-square-foot property generated revenue of $283,984 or $33 per square foot, according to the most recent income and expense figures.

The property

The mixed-use building with 4 residential units in Chinatown has 8,512 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 80 feet deep with a total lot size of 2,000 square feet. The lot is irregular. The zoning is C6-1 which allows for up to 6 times floor area ratio (FAR) for commercial and up to 3.44 times FAR for residential. The city-designated market value for the property in 2022 is $1.1 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 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 $1 million on this tax lot.

The neighborhood

In Chinatown, The bulk, or 36 percent of the 8.4 million square feet of commercial built space are walkup buildings, with mixed-use buildings next occupying 17 percent of the space. In sales, Chinatown has had very little sales volume relative to other neighborhoods with $165.7 million in sales volume in the last two years. For development, Chinatown has had very little major development activity relative to other neighborhoods.It had 294,203 square feet of commercial and multi-family construction under development in the last two years, which represents 4 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of two of the 30 commercial properties representing 22,112 square feet of the 330,481 square feet. The two identified owners are Leon Luk and Nathin Donald.
There are no active new building construction projects on this tax block.

The majority, or 67 percent of the 330,481 square feet of built space are walkup buildings, with mixed-use buildings next occupying 30 percent of the space.

The buyer

The PincusCo database currently indicates that Jason Wang owned at least five commercial properties with seven residential units in New York City with 17,519 square feet and a city-determined market value of $5.6 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 47 percent of the 17,519 square feet of built space are mixed-use properties, with office properties next occupying 35 percent of the space. The bulk, or 35 percent of the built space, is in Manhattan, with Queens next at 35 percent of the space.

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