Supermarket company buys its own Queens store for $101M

CoStar

42-02 Northern Blvd., Long Island City, Queens.

A family-owned supermarket company has purchased the site of one of its own Queens stores for more than $100 million, records show.

Bogopa, which operates under the name Food Bazaar, scooped up 42-02 Northern Blvd. in Long Island City for $101.1 million, according to a deed that hit city records this week.

Edward Suh, president at Bogopa, which has dozens of locations across the five boroughs, signed the paperwork via an entity named after the address. There are also stores in Long Island, Westchester, New Jersey and Connecticut.

The nearly 75,000-square-foot shopping center, which sits on a 3.9-acre lot between 42nd Street and 42nd Place, is occupied by the supermarket, along with a few other food and beverage retail chains such as Dunkin’ and Singas Famous Pizza.

It’s unclear how much Bogopa was paying for Food Bazaar’s lease, but CoStar estimates the rent ranged from $29 to $35 per square foot. It’s also unclear if Bogopa intends to make any changes to the site.

The seller was a Long Island-based entity affiliated with Gould Investors, a real estate and investment company headquartered in Great Neck. Mark Lundy, president of the firm, is listed as the seller’s signatory. Gould appears to have acquired the property in the late 1990s, according to records. The price wasn’t listed.

Allen Perlstein, a partner at the Long Island-based law firm Harfenist Kraut & Perlstein, which represented the buyer, did not return a request for comment by press time. And neither Lundy nor Suh responded to requests for comment.