Xiang Gao Acquires Retail Property In Washington Heights For $8.88M

A 5,458 square foot single-story retail property located at 4132-4138 Broadway in Washington Heights has been sold for a total of $8,880,000. The property, situated on the corner of Broadway and 175th Street, was 100% leased by Food Emporium supermarket on a long-term net lease through 2034, with annual increases. This retail asset in Washington Heights is characterized by its prime location and the strong lease terms provided by the tenant.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $8,880,000
• Square Footage: 5,458
• Price Per Square Foot: $1,627
• Address: 4132-4138 Broadway, Washington Heights
• Market: Washington Heights

The buyer of the property is Xiang Gao, while the seller is 101 Holdings, represented by Michael Ashkenazy. The transaction was facilitated by brokers Scott Plasky and Joe Koicim from Marcus & Millichap, as well as Jack Chen from B Square Realty. These professionals played a crucial role in connecting the buyer and the seller, ensuring a successful and mutually beneficial deal for both parties involved.