Xiao Fu Lin, Jialing Chen pay $3M for 14-unit walkup in Flushing

Xiao Fu Lin and Jialing Chen through the entity 34 Homeowl LLC paid $3 million to Ka Fung Choi through the entity Homerun Flushing Inc. for the 14-unit residential walkup building (C1) at 144-22 34th Avenue in Flushing, Queens. The expected use is cash flowing.
The deal closed on October 20, 2025 and was recorded on November 6, 2025. The property has 10,032 square feet of built space and 3,720 square feet of additional air rights for a total buildable of 13,760 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $299 and the price per buildable square foot is $218 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 Ka Fung Choi was Ka Fung Choi. The signatory for Xiao Fu Lin and Jialing Chen was Xiao Fu Lin. The contract date was June 20, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Xiao Fu Lin had purchased any other properties and sold one property in one transaction for a total of $3.2 million over the past 24 months.
The seller Ka Fung Choi had not purchased any other properties and sold one property in one transaction for a total of $3.4 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Simon Choi, head officer and Qin Zhang, site manager. The business entity is Homerun Flushing Inc. The 10,032-square-foot property generated revenue of $203,843 or $20 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 14 residential units in Flushing has 10,032 square feet of built space and 3,720 square feet of additional air rights for a total buildable of 13,760 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 R7-1 which allows for up to 3.44 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1 million.

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 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 block

On this tax block, PincusCo has identified the owners of two of the seven commercial properties representing 238,846 square feet of the 535,368 square feet. The two identified owners are A&E Real Estate Holdings and Marx Development Group.
There are no active new building construction projects on this tax block.

The majority, or 92 percent of the 535,368 square feet of built space are elevator buildings, with walkup buildings next occupying 8 percent of the space.

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