A Long Island firm has brokered the sale of a Queens retail property for $8.7 million.
Plainview-based Triple Net Brokers handled the sale of a 2,950-square-foot building on .28 acres at 73-55 Grand Ave. in Maspeth.
The buying entity, 169 Empire Boulevard LLC, is registered to Brooklyn-based commercial real estate investors.
The Maspeth property is net-leased to TD Bank, which has 12 years remaining on its lease.
The purchase price equates to a 4.4 percent cap rate.
Clem Cesare of Triple Net Brokers represented the buyer, as well as the seller, Mazza & Avena Co. Inc., in the sales transaction.