Crown Acquisitions Sells Queens Building for $23M
By Isabelle Durso April 28, 2025 5:03 pm
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Crown Acquisitions has offloaded a commercial building in Corona, Queens, for $23.4 million, according to city records made public Monday.
Crown, through the entity ICS Junction II Owner, sold the two-story building at 38-02 Junction Boulevard to nonprofit Midwood Development Corporation (MDC), which used the entity 3780 Junction Owner, records show.
Richard, Haim and Isaac Chera of Crown signed for the seller, while Steven Sasson signed for the buyer, according to records.
It’s unclear who brokered the deal. Spokespeople for Crown and MDC did not immediately respond to requests for comment.
Crown bought the building between Roosevelt and 37th avenues in 2011 for $9 million, property records show.
It’s unclear what MDC’s plans are for the property, but the nonprofit’s housing program includes services for renters, tenants and homeowners, according to its website. MDC is based on Avenue M in Midwood, Brooklyn.
Discount store ABC Super Stores currently occupies the space, while Dunkin’ Donuts and Cafe Vanilla are in retail space next door.
Also in Corona, Nelson Tuchman sold the Rego Park Health Care nursing home facility at 111-26, 111-20 and 111-16 Corona Avenue for $56.4 million in March, as Commercial Observer previously reported.
Isabelle Durso can be reached at idurso@commercialobserver.com.
