Xiaorong Zhai Purchases Retail Property From Branigan Family In Long Island City For $9.375M

The retail property located at 28-04 41st Avenue in Long Island City has been sold for $9,375,000. The asset encompasses a total area of 10,000 square feet, resulting in a price per square foot of $937.5.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $9,375,000
• Address: 28-04 41st Avenue
• Market: Long Island City
• Square Footage: 10,000
• Price per Square Foot: $937.5
• Buyer: Xiaorong Zhai
• Seller: Branigan Family
• Brokerage: Marcus & Millichap
• Brokers: Joseph Koicim, Shaun Riney, Sean Fopeano & David Cornejo

This transaction follows a highly competitive marketing process in which NYM Group achieved the full initial asking price for the property. The brokerage firm continues to be active in Long Island City, with three additional development sites currently under hard contract.