Juan Qing Lu pays $8M for Sirico’s banquet hall in Dyker Heights

Juan Qing Lu through the entity JMAL Group LLC paid $8 million to the Sirico family through the entity JHS Realty Associates for Sirico’s Caterers banquet hall covering five tax lots making up the retail at 8023 13th Avenue in Dyker Heights, Brooklyn.
The deal closed on June 1, 2026 and was recorded on June 12, 2026. The five properties have 14,160 square feet of built space and 7,240 square feet of additional air rights for a total buildable of 21,000 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $564 and the price per buildable square foot is $380 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 Hercules Sirico and James T. Sirico was Hercules Sirico and James T. Sirico. The signatory for Juan Qing Lu was Juan Qing Lu. The contract date was June 30, 2025. The Sirico family members were owners of Sirico’s Caterers, which is permanently closed as of late May, according to local media.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Juan Qing Lu had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Hercules Sirico had not purchased any other properties and had not sold any properties over the same time period. Out of the five properties, three with a total of 14,160 square feet of built space generated revenue of $315,335 per year.

The property

The industrial building in Dyker Heights has 14,160 square feet of built space and 7,240 square feet of additional air rights for a total buildable of 21,000 square feet according to a PincusCo analysis of city data. The parcel has frontage of 40 feet and is 100 feet deep with a total lot size of 4,000 square feet. The zoning is R5B which allows for up to 1.35 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $876,000.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have 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 Dyker Heights, The bulk, or 30 percent of the 7.1 million square feet of commercial built space are mixed-use buildings, with walkup buildings next occupying 26 percent of the space. In sales, Dyker Heights has had very little sales volume relative to other neighborhoods with $211.7 million in sales volume in the last two years. For development, Dyker Heights has had very little major development activity relative to other neighborhoods.It had 317,154 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

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

The majority, or 60 percent of the 16,600 square feet of built space are retail buildings, with mixed-use buildings next occupying 40 percent of the space.

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