Queens, NY Michael Ferrara, managing principal of Brax Realty brokered the closing of 142-06 41st Ave. in Flushing, for $5 million.
Ferrara exclusively represented the seller, The Bauer Family, and also procured the buyer, a private investor.
The L-shaped property has frontage on 41st Ave. and Union St. and consists of 3,725 s/f. It is occupied by Goowha Market, a subsidiary of H-Mart, a local grocery store.
The property has an R7-1 zoning and a total lot size of 4,810 s/f. Since the lot fronts a wide street, the total FAR of the property is four, allowing the property to be built up to 19,096 s/f. This is the first time the property has traded hands in over 55 years.
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