Tai Song Lin submits $11.9M condo plan for 16-unit project in Flushing

Tai Song Lin through the entity 99 Colden, L.L.C. submitted a condominium plan to create 16 residential units and 1 commercial unit in a building at 43-27 Byrd Street in Flushing, Queens, called Golden Tower Condominium that has a $11.9 million sellout, according to an November 14, 2022 submission to the New York State Attorney General.

The condo plan follows a new development project filed at the parcel for a 17-unit, 14,891 square-foot residential (R-2) building submitted by Jian Zai Lin with plans filed February 9, 2021 and permitted September 15, 2021.

Violations and lawsuits

According to city public data, the property has received $12,500 in ECB penalties and $15,300 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 37.8 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 $611.7 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 2.9 million square feet of commercial and multi-family construction under development in the last two years, which represents 8 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of one of the five commercial properties representing 9,934 square feet of the 34,471 square feet. The identified owner is De Chun Chen. On the tax block, there was one new building construction project filed totaling 14,891 square feet. It is a 17-unit, 14,891 square-foot residential (R-2) building submitted by Jian Zai Lin with plans filed February 9, 2021 and permitted September 15, 2021.

The surrounding

Within a 400-foot radius of 43-25 Byrd Street, PincusCo identified two commercial real estate items of interests occurred over the past 24 months. Of those two items, one was in new building development. It was a new building permit issued on September 15, 2021 for a 14,891-square-foot residential (R-2) building with 17 residential units at 43-27 Byrd Street. One of those two items was a loan which Susan Ting borrowed $8.5 million from First National Bank of Long Island secured by the 65,910-square-foot, 44-unit rental (D7) on 43-53 Main Street on February 23, 2022.

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