Bankrupt developer Jeffrey Wu, also known as Myint Kyaw, has transferred ownership of 41-60 Main Street in Flushing, Queens, to Madison Realty Capital for $80 million, according to city property records. 

The portfolio includes the 100,500-square-foot Main Street commercial building, the neighboring 99-unit Victoria Tower condominium development at 133-38 Sanford Avenue, the Hong Kong Market at 80 Elizabeth Street in Manhattan’s Chinatown, and a Long Island industrial building at 377 Carlls Path in Deer Park, N.Y.  

Madison Realty Capital had previously provided Wu with a $66 million bridge loan to refinance the two Flushing properties in 2014. Wu had attempted to sell the 41-60 Main Street property twice in 2014, initially listing it for $88 million and later for $92 million. Newmark’s Adam Spies and Daniel O’Brien brokered the recent deal.

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