By Alex Robinson
An Asian supermarket in downtown Flushing has been sold for $54.6 million.
Rhee Bros, a Maryland-based Asian grocery retailer, has sold the Assi Plaza, at 131-01 39th Ave, to Outlet Plaza LLC, according to city records.
Outlet Plaza LLC is affiliated with King’s USA Group, a hospitality development firm, the Real Deal reported.
The site sits near the SkyView Center mall and is adjacent to the Flushing Creek, an area ripe for development as the waterway has been slated for a potential cleanup by the city – a plan developers who own property along the creek are pushing for.
The property is also just across the creek from Willets Point, which is set to be transformed through a mammoth $3 billion redevelopment into a new neighborhood with commercial, retail and residential space.
Rhee Bros first opened the grocery store in 1994 and has since opened a handful of Korean supermarkets across the country.
A representative of Outlet Plaza LLC refused to comment on the sale.
Syngman Steve Rhee, the head of Rhee Bros, could not be immediately reached for comment.
Reach reporter Alex Robinson by e-mail at arobinson@cnglocal.com or by phone at 718-260-4566.
