Jian Chen pays $5.7M for mixed-use in Sunset Park

Jian Chen through the entity De Chun Chen Group 52 Inc paid $5.7 million to Wing Wah Kwok and Leung Wah Kwok for the two-unit mixed-use building (S2) at 5706 8th Avenue in Sunset Park, Brooklyn. The expected use is cash flowing.
The deal closed on October 6, 2025 and was recorded on October 17, 2025. The property has 3,120 square feet of built space and 768 square feet of additional air rights for a total buildable of 3,888 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,826 and the price per buildable square foot is $1,466 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 Wing Wah Kwok and Leung Wah Kwok was Wing Wah Kwok and Leung Wah Kwok. The signatory for Jian Chen was Jian Chen. The contract date was April 16, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Jian Chen (938) had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Wing Wah Kwok had not purchased any other properties and had not sold any properties over the same time period.

The property

The mixed-use building with 2 residential units in Sunset Park has 3,120 square feet of built space and 768 square feet of additional air rights for a total buildable of 3,888 square feet according to a PincusCo analysis of city data. The parcel has frontage of 20 feet and is 80 feet deep with a total lot size of 1,600 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.8 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 $530 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 Sunset Park, The bulk, or 30 percent of the 35 million square feet of commercial built space are industrial buildings, with specialty buildings next occupying 26 percent of the space. In sales, Sunset Park has near average sales volume among other neighborhoods with $328.5 million in sales volume in the last two years and is the 22nd highest in Brooklyn. For development, Sunset Park has had very little major development activity relative to other neighborhoods.It had 844,702 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

On this tax block, PincusCo has identified the owners of seven of the 30 commercial properties representing 32,195 square feet of the 131,328 square feet. The largest owner is Fay Leung, followed by Jian Chen (938) and then Vincenzo Alaimo.
On the tax block, there were four new building construction projects totaling 15,917 square feet. The largest is a two-unit, 4,005 square-foot residential (R-3) building submitted by Xiao Hong Zhu with plans filed January 26, 2017 and permitted October 12, 2017. The second largest is a four-unit, 4,002 square-foot residential (R-2) building submitted by Bing Qing Zheng with plans filed February 20, 2019 and permitted August 27, 2021.

The majority, or 74 percent of the 131,328 square feet of built space are mixed-use buildings, with walkup buildings next occupying 17 percent of the space.

The buyer

The PincusCo database currently indicates that Jian Chen (938) owned at least one commercial property with two residential units in New York City with 3,680 square feet and a city-determined market value of $1.5 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single mixed-use property. It is located in Brooklyn.

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