Anthony Hu Of Hiwin Group USA Acquires Mixed-use Property From Xiaorong Zhai For $32M

A mixed-use asset located at 131-02 40th Road in Downtown Flushing, Queens, has been sold for $32,000,000. The property features a total square footage of 551,193 and was utilized for a 19-story, 469-key hotel development site.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $32,000,000
• Buyer: Anthony Hu - Hiwin Group USA
• Seller: Xiaorong Zhai - Jade Century Properties
• Sale Price per Square Foot: $58

This transaction marks the acquisition of the third building in Hiwin Group USA's three-project plan, facilitated by Anthony Hu representing the buyer and Xiaorong Zhai representing the seller.