Tony Xiao Acquires Retail Building At 112-37 Roosevelt Avenue In Corona For $6.05M

112-37 Roosevelt Avenue is a 2-story retail property located in North Corona, Queens. This asset spans 19,175 square feet and includes retail frontage, with approximately 25,975 square feet of remaining development rights. The property was sold for $6,050,000, reflecting a price per square foot of approximately $316 after a competitive bidding process.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $6,050,000
• Address: 112-37 Roosevelt Avenue
• Market: Corona
• Square Footage: 19,175
• Price per Square Foot: $316
• Buyer: Tony Xiao
• Seller: Ursula Niarakis
• Brokers: Seth Glasser, Shaun Riney, Sean Fopeano, David Cornejo, Jakub Nowak & Matthew Rosenzweig - Marcus & Millichap

The existing tenant acquired the property and proceeded with the transaction with minimal contingencies, showcasing a proactive approach during the competitive bidding process involving multiple parties.