Landlord Andy Chau plans mixed-use condo in Chinatown
The project's total projected sellout is $46M
UPDATED, 6:50 p.m., Feb. 22: Queens-based landlord Andy Chau filed an offering plan for a 42-unit mixed-use building in Chinatown, according to the state Attorney General’s office.
Chau’s Wing Fung Realty Group filed plans last week for condos at 86 Canal Street. The building is expected to have 32 residential units and 10 commercial units, according to plans filed with the New York Attorney General’s Real Estate Finance Bureau. The building’s total projected sellout is $46 million.
In June 2010, Chau bought the development site for $16.5 million from Manhattan-based landlord Baruch Singer. Singer initially planned to build a 79,000-square-foot apartment with office and retail space, and then later opted to build a parking lot. Neither project was realized due to financial and legal issues.
Chau told The Real Deal on Monday that construction is almost complete at the site. He directed further questions to the project’s architect, Tan Architect.
The investor made headlines in 2012 when he was accused of siccing motor cycle gangs on his tenants. At the time, tenants of two Bushwick apartment buildings accused Chau of hiring the gangs to scare them out of their apartments, which had been illegally converted into lofts. Court records indicate that no lawsuit or criminal charges were filed in connection with these allegations.
Correction: An earlier version of this story misstated the number of residential units. It’s 32 units.