Xiao Ling Huang pays $12M to Shuk Yin Wong for commercial property in Lower East Side

Xiao Ling Huang through the entity 91 Ludlow Street, LLC paid Shuk Yin Wong’s Win Sun Enterprise Inc. $12.3 million for 91 Ludlow Street in Lower East Side. The deal closed on October 23, 2019, and was recorded on November 4, 2019. The transaction consists of 1 parcel, including the tax class miscellaneous warehouse (E9). The property is 6,000 square feet. The parcel(s) have total development potential of 26,721 square feet.
The average sale price per square foot is $460.
The estimated cap rate is 1.1%

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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