Jin Ping Xu pays $20M for industrial in College Point

Jin Ping Xu through the entity 3169 Coll Point LLC paid $20 million to Gina Young through the entity L & Y Development, LLC for the industrial building (E1) at 31-69 College Point Boulevard in College Point, Queens.
The deal closed on January 6, 2026 and was recorded on January 21, 2026. The property has 20,544 square feet of built space and 67,066 square feet of additional air rights for a total buildable of 87,668 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $973 and the price per buildable square foot is $228 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 October 26, 2004, for $2.8 million. The signatory for Gina Young was Gina Young. The signatory for Jin Ping Xu was Jin Ping Xu. The contract date was May 9, 2024.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Jin Ping Xu had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Gina Young had not purchased any other properties and had not sold any properties over the same time period. The 20,544-square-foot property generated revenue of $656,498 or $32 per square foot, according to the most recent income and expense figures.

The property

The industrial building in College Point has 20,544 square feet of built space and 67,066 square feet of additional air rights for a total buildable of 87,668 square feet according to a PincusCo analysis of city data. The parcel has frontage of 86 feet and is 266 feet deep with a total lot size of 43,834 square feet. The lot is irregular. The zoning is M2-1 which allows for up to 2 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $3.5 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 College Point, The bulk, or 48 percent of the 10.8 million square feet of commercial built space are industrial buildings, with specialty buildings next occupying 21 percent of the space. In sales, College Point has had very little sales volume relative to other neighborhoods with $251.4 million in sales volume in the last two years. For development, College Point has had very little major development activity relative to other neighborhoods.It had 537,748 square feet of commercial and multi-family construction under development in the last two years, which represents 5 percent of the neighborhood’s built space.

The block

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

The majority, or 100 percent of the 20,544 square feet of built space are industrial buildings, with development buildings next occupying 0 percent of the space.

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