09/02/2026
You’ve probably heard the phrase “robbing Peter to pay Paul.” It’s typically used to describe foolish borrowing practices. A Chinatown landlord did just that to build a $119 million real estate empire and now dozens of longtime businesses and residents are paying the price.
Our latest investigation with Chinatown Spotlight found hundreds of building code violations across Jiazhao ‘Frank’ Chen’s properties, including faulty plumbing, rusting walkways and pest infestations.
We looked at how Chen’s finances unraveled — and what it means for the longtime residents and business owners who now face the threat of being priced out or unable to stay in the neighborhood.
Read the full investigation:
Nearly 70 properties are in receivership after Jiazhao ‘Frank’ Chen defaulted on at least $119 million in real estate loans. A proposed landlord registry could help the city track irresponsible property owners.