Lu Lu Zhang pays $4M to Ching Cheng for mixed-use in Ridgewood
Lu Lu Zhang through the entity 1693 LLC paid $4 million to Ching Cheng through the entity Nomad Social House LLC for the four-unit mixed-use building (S9) at 1693 Putnam Avenue in Ridgewood, Queens. The expected use is cash flowing.
The deal closed on March 18, 2026 and was recorded on April 3, 2026. The property has 6,160 square feet of built space and 440 square feet of additional air rights for a total buildable of 6,600 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $649 and the price per buildable square foot is $606 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 May 20, 2025, for $3.2 million. The signatory for Ching Cheng was Ching Cheng. The signatory for Lu Lu Zhang was Lu Lu Zhang. The contract date was December 19, 2025.
Prior sales, articles and revenue
Prior to this transaction, PincusCo has no record that the buyer Lu Lu Zhang had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Ching Cheng purchased one property in one transaction for a total of $3.2 million and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Lulu Zhang, head officer and Jimmy Yu, agent. The business entity is 1693 Llc.
The property
The mixed-use building with 4 residential units in Ridgewood has 6,160 square feet of built space and 440 square feet of additional air rights for a total buildable of 6,600 square feet according to a PincusCo analysis of city data. The parcel has frontage of 22 feet and is 100 feet deep with a total lot size of 2,200 square feet. The zoning is C4-3A which allows for up to 3 times floor area ratio (FAR) for commercial and up to 3 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $985,200.
Transaction Participants
Xiangan Gong participated in the transaction on behalf of the buyer.
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 $50 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 Ridgewood, The bulk, or 38 percent of the 20 million square feet of commercial built space are walkup buildings, with mixed-use buildings next occupying 29 percent of the space. In sales, Ridgewood has had very little sales volume relative to other neighborhoods with $263.3 million in sales volume in the last two years. For development, Ridgewood has near average amount of major developments among other neighborhoods and is the 7th highest in Queens. It had 1.5 million square feet of commercial and multi-family construction under development in the last two years, which represents 7 percent of the neighborhood’s built space.
The block
On this tax block, PincusCo has identified the owners of two of the 16 commercial properties representing 60,326 square feet of the 109,800 square feet. The two identified owners are Bushburg Properties and Ching Cheng.
There are no active new building construction projects on this tax block.
The majority, or 51 percent of the 109,800 square feet of built space are mixed-use buildings, with elevator buildings next occupying 49 percent of the space.
The seller
The PincusCo database currently indicates that ching cheng owned at least one commercial property with four residential units in New York City with 6,160 square feet and a city-determined market value of $791,000. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single mixed-use property. It is located in Queens.
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