If you believe court papers, there are some real estate shenanigans going on over in Flushing. New Jersey-based developer Mao Hua Dong says Xingmei Chen’s American Chengxing Investment Management Group won’t sell a 38 percent ownership stake in a pair of properties near the mixed-use the Grand at Sky View Parc complex, despite having been paid for it, The Real Deal reported.
The sites – at 40-70 Delong Street and 131-02 40th Road – could be combined for 272,000 square feet of residential space or 375,000 square feet of commercial space. Dong says Chen was paid – directly, mind you – and is suing to have the sale enforced, plus for $5 million in damages.
• Developer sues to force sale of site near Sky View Parc [TRD]