Xiao Jun Chen pays $3.5M to Capital One for retail in College Point

Xiao Jun Chen through the entity Northern 167 Property LLC paid $3.5 million to Capital One for the retail building (K7) at 122-03 14th Avenue in College Point, Queens.

The deal closed on June 9, 2021 and was recorded on July 22, 2021.
The property has 4,785 square feet of built space and 6,855 square feet of additional air rights for a total buildable of 11,685 square feet according to PincusCo analysis of city data. The sale price per built square foot is $723 and the price per buildable square foot is $296 per the PincusCo analysis.

The signatory for Capital One was Jennifer A. Windbeck. The signatory for Xiao Jun Chen was Xiao Jun Chen.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $127,000.
Within a 400-foot radius of 122-03 14th Avenue, PincusCo identified one commercial real estate item of interest that occurred over the past 24 months.
It was an initial temporary certificate of occupancy issued on December 27, 2019 for the $771,780 renovation of the building with 12 residential units at 122-10 14th Avenue.

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