Lu Liu Acquires Retail Property In Downtown Flushing, Queens For $3.5M

The property located at 135-41 38th Avenue in Downtown Flushing, Queens, has been sold in a recent transaction. The asset is a retail property with a total square footage of 2,100. The property is zoned as C4-2 and C4-3, allowing for various commercial uses. The sale took place on May 17, 2021, with a sale price of $3,500,000. The price per square foot for the property is $1,666, based on the total square footage.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $3,500,000
• Market: Downtown Flushing, Queens
• Zoning: C4-2, C4-3

The buyer of the property is Lu Liu, while Cindy Zhang is the seller. The property has a buildable square footage (BSF) of 6,800, resulting in a price per buildable square footage (PPBSF) of $514. The property's floor area ratio (FAR) is 1.05, and it falls under tax class 4. The lot size is 2,004 square feet, with dimensions of 34 ft x 62 ft. The previous sale of the property occurred on July 20, 2017, with a sale price of $3,950,000. A permit for alteration type 3 was issued on March 19, 2021.