Rema Management pays $5M to Show Lain Cheng for retail in Jackson Heights

Rema Management through the entity 8206 Northern Boulevard LLC paid Show Lain Cheng’s 8888 Northern Blvd $5 million for 82-06 Northern Boulevard in Jackson Heights. The deal closed on March 10, 2021 and was recorded on March 26, 2021. The transaction consists of 1 parcel, including the tax class two-story or store and office (K2). The property is 33,830 square feet. The parcel(s) have total development potential of 33,830 square feet.
The average sale price per square foot is $148.

The contract date was January 25, 2021.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $135,000.

Direct link to Acris document. link
The signatory for the buyer was Jose Portela.