Yu Zhen Liang, Wenjuan Han pays $4.1M for 18-unit rental in Lower East Side

Yu Zhen Liang and Wenjuan Han through the entity 129 H&H Realty LLC paid $4.1 million to John Wong through the entity Wong’s Brother Corp. for the 18-unit rental (C7) at 129 Allen Street in Lower East Side, Manhattan.
The deal closed on July 7, 2021 and was recorded on July 20, 2021.
The property has 7,270 square feet of built space and 1,542 square feet of additional air rights for a total buildable of 8,816 square feet according to PincusCo analysis of city data. The sale price per built square foot is $559 and the price per buildable square foot is $461 per the PincusCo analysis.
The signatory for John Wong was John Wong. The signatory for Yu Zhen Liang and Wenjuan Han was Yu Zhen Liang and Wenjuan Han.

The former owners according to the Department of Housing Preservation and Development includes John Wong, head officer and Daisy Wong, officer.
Within a 400-foot radius of 129 Allen Street, PincusCo identified six commercial real estate items of interests occurred over the past 24 months.
Of those six items, one was for major renovation including a certificate of occupancy change. It was a permit issued on June 2, 2021 for the $24.2 million renovation of 104,300-square-foot I-2 building at 45 Rivington Street.
Of those six items, two were sales above $5 million totaling $23.8 million. The most recent of the two was Delshah Capital which bought the 16,579-square-foot, two-unit hotel (HB) on 119 Orchard Street and 0 other properties for $8.5 million from Shimon Avadi on April 21, 2021.
Of those six items, three were loans above $5 million totaling $32.2 million. The most recent of the three was Delshah Capital which borrowed $6.5 million from Signature Bank secured by the 16,579-square-foot, two-unit hotel (HB) on 119 Orchard Street on April 21, 2021.

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