Flushing Landlord Sells Restaurant Hub After Two Tenants Evicted
Outlets disagree on the price. The city's property file still lists Nippan Daido U.S.A. as owner, and a 2015 deed on the lot recorded no price.
A family-owned Flushing landlord has reportedly sold the Chinatown restaurant building it spent years trying to keep full, after evicting two of its biggest tenants over unpaid rent. Patch reports Asia Plaza Corp. sold D One Plaza at 3610 Union Street to Queens investor Biyun Cai for $9.6 million. Crain’s puts the price at about $10 million.
Why it matters
The building is a case study in what a restaurant landlord does when tenants stop paying. Patch reports Asia Plaza sued Rich Lucky, a hot pot and seafood restaurant, after it stopped paying rent in December 2021, seeking $390,000. The restaurant filed for bankruptcy protection three times, a judge ruled for the landlord, and it was evicted in November 2025. Fantastic Beasts was evicted in July 2026 after its own rent suit. Patch says the four-story building next to The One hotel appeared vacant, and no redevelopment plan has been announced.
The two outlets disagree on the price, and the city has not settled it yet. The 2015 deed on the lot lists $0 consideration, so there is no recorded purchase price to measure the reported sale against.
The numbers
As of Oct. 13, the city’s property file for Queens block 4977, lot 52 (137-80 Northern Boulevard) still lists Nippan Daido U.S.A., Inc. as owner. The sale deed had not appeared in city open records, which typically trail recording by weeks. Asia Plaza Corp. shares a 39-06 Union Street address with Nippan Daido on 2005 city documents, which suggests the two are related, though the records do not say so.
The lot is 3,860 square feet with 16,000 square feet of building, built in 1940, zoned C4-3. Lenders were on it for years: a $5 million agreement with East West Bank recorded May 12, 2020, alongside a $916,667 mortgage, replacing a $5 million First Commercial Bank agreement from 2015. A reported sale near $10 million would clear that debt with room to spare.
What’s next
Watch for the recorded deed, which will fix the price, the buyer entity and any new mortgage, and for a Department of Buildings filing that shows whether Cai plans to reopen the floors as restaurants or convert them. More: New York →
On the record
Primary record
- Public recordAs of Oct. 13, 2026 the city's property file (PLUTO) for Queens block 4977 lot 52, the 16,000-square-foot building at 137-80 Northern Blvd, still lists Nippan Daido U.S.A., Inc. as owner, and no sale deed to the reported buyer had appeared in city open records.View the record on zola.planning.nyc.gov
- Public recordThe last deed on the lot, recorded June 18, 2015, shows Main Street Foods Inc. and Nippan Daido U.S.A., Inc. as sellers to Nippan Daido at $0 consideration, so the city record carries no purchase price to compare against the reported sale.View the record on a836-acris.nyc.gov
- Public recordNippan Daido borrowed against the lot repeatedly: $5M agreements with First Commercial Bank (Sept. 2015) and East West Bank (May 12, 2020), the latter paired with a $916,667 mortgage, and a $1.8M agreement in 2013.View the record on a836-acris.nyc.gov
Also reported by
- Crain's New York Business, Asia Plaza Corp. sells 3610 Union St. to Biyun CaiOct. 12, 2026 report of a sale for about $10M
- Patch Flushing-Murray Hill, Former Flushing Chinese Restaurant Hub Sells For MillionsOct. 12, 2026 report of a $9.6M sale and the Rich Lucky and Fantastic Beasts evictions