Kong Yong Chen pays $8.4M to Sang Ki Han for industrial in College Point

Kong Yong Chen through Grand Pine Tree NY LLC paid $8.4 million to Sang Ki Han through E & H Realty Management Corp. for industrial (F9) at 18-02 131st Street in College Point, Queens.
The deal closed on August 26, 2021 and was recorded on September 15, 2021.
The property has 19,350 square feet of built space and 600 square feet of additional air rights for a total buildable of 20,000 square feet according to PincusCo analysis of city data. The sale price per built square foot is $434 and the price per buildable square foot is $420 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 February 9, 2006, for $4.0 million.

Within a 400-foot radius of 18-02 131st Street, PincusCo identified three commercial real estate items of interests occurred over the past 24 months.
One of those three items was a sale which Mehra Properties bought the 37,454-square-foot, one-unit industrial (F1) on 15-30 130th Street for $12.4 million from Basil Messados on September 16, 2020.
Of those three items, two were loans above $5 million totaling $40.9 million. The most recent of the two was Jetro Restaurant Depot which borrowed $33.9 million from CTL Capital secured by the 103,825-square-foot, one-unit industrial (E9) on 15-43 130th Street and four other properties on February 12, 2021.

Direct link to Acris document. link