But in 2025, Chen’s real estate empire began to topple — a domino effect as a result of his own risky business practices.
Property records and court filings show he took loans out to buy buildings and then took out larger loans against those properties to buy more. He allegedly deceived investors and inflated rental income.
Meanwhile, he racked up hundreds of building code violations from the city for things like faulty plumbing, rusting walkways, and pest infestations.