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Anthony Hu Of Hiwin Group USA Acquires Mixed-use Property From Xiaorong Zhai For $32M
New York
See Similar DealsMixed-use551,193 SF
Leased 10/21/2025
Anthony Hu Of Hiwin Group USA Acquires Mixed-use Property From Xiaorong Zhai For $32M
131 02 40th Road
See Similar DealsMixed-use551,193 SF
Leased 10/21/2025
Summary
NEW YORK
Asset Type:Mixed-use
Total Square Footage:551,193 SF
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$0.00
Debt Service Coverage Ratio (DSCR)
0.00x
Cap Rate
0.00%
Cash Flow (Annual)$0.00
Cash-on-Cash Return0.00%
Monthly Debt Service$0.00
Annual Debt Service$0.00
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