A&N Food Market Sells Queens Supermarket Building for $27M

A&N Food Market has offloaded a building in Flushing, Queens, that’s home to Great Wall Supermarket for $27 million, according to city records made public last week.

Two Queens-based entities — Sun Long Hing LLC and 168 J&C Holdings LLC — bought the one-story property at 41-79 Main Street, records show. Sun Long Hing and J&C Holdings now own 35 percent and 65 percent stakes in the building, respectively, according to records.

Andrew Huang, president of A&N, signed for the seller, but it was unclear who signed for the buyer.

It’s also unclear who brokered the deal. Spokespeople for A&N and the buyers could not be reached for comment. The New York Business Journal first reported the news.

The building between Maple and Sanford avenues had been under A&N’s ownership since at least 1990, records show.

As part of the new deal, Sun Long Hing and J&C Holdings secured an $18.5 million loan from CTBC Bank, which is at 41-99 Main Street, next door to Great Wall Supermarket, according to records.

News of the deal also comes as the 24,600-square-foot, grocery-anchored property undergoes renovations, including $376,000 worth of repairs on the roof and floor slabs along with a new elevator, NYBJ reported, citing a recent filing with the city’s Department of Buildings.

Grocery-anchored developments have been on the rise in New York City lately, following the Domain Companies’ new Bronx residential building anchored by local grocery store Food Market and its new Long Island City, Queens, development anchored by Brooklyn-based grocery chain Dumbo Market.

Isabelle Durso can be reached at idurso@commercialobserver.com.