Tai Song Lin files 25-unit condo plan in Flushing with $25M sellout

Tai Song Lin through the entity Cherry 17 Group LLC submitted a new condominium plan to create 25 residential units in a building at 141-15 Cherry Avenue in Flushing, Queens, called Cherry Plaza Condominium that has a $16 million sellout, according to an April 20, 2023 submission to the New York State Attorney General. The principal of the sponsor, Cherry 17 Group LLC, was Tai Song Lin. This is Tai Song Lin’s second condo filing in Flushing in a year.

This is a new construction project. Dechun Chen filed plans with the New York City Department of Buildings for a 25-unit, 18,168 square-foot residential (R-2) building under the job number Q00484021 on March 21, 2021 which was then permitted on November 29, 2021.

There have been 12 residential condominium plans filed in Flushing in the past 12 months with a total of 452 units. This project was the seventh largest. Tai Song Lin’s other project had 16 units.

The developer bought the two tax lots that make up the site for a combined $4.15 million in December 2016.

Violations and lawsuits

According to city public data, the property has received $14,900 in ECB penalties and $22,450 in OATH penalties in the last year.

There were no lawsuits or bankruptcies filed against the property for the past 24 months.

The neighborhood

In Flushing, The bulk, or 45 percent of the 37.7 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 20 percent of the space. In sales, Flushing has near average sales volume among other neighborhoods with $727.3 million in sales volume in the last two years and is the 4th highest in Queens. For development, Flushing has near average amount of major developments among other neighborhoods and is the 5th highest in Queens. It had 2.5 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. There was one pre-foreclosure suit filed among other development buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of four of the 12 commercial properties representing 153,252 square feet of the 233,190 square feet. The largest owner is A. Ruth & Sons, followed by Bronstein Properties and then Zara Realty Holding. On the tax block, there were two new building construction projects totaling 18,168 square feet. The largest is a 25-unit, 18,168 square-foot residential (R-2) building submitted by Dechun Chen with plans filed March 21, 2021 and permitted November 29, 2021. The second largest is a 20-unit residential (J-2) building submitted by Bao Gui Zhuo with plans filed October 13, 2006 and permitted June 15, 2018.

The surrounding

This is the first commercial real estate event of interest identified within the 400-foot radius of 141-15 Cherry Avenue in the past 24 months.

Direct link to the property’s ACRIS page and link to DOB NOW portal.