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261 Broadway 14,262 sq ft Retail Unit in New York, NY 10007
INVESTMENT HIGHLIGHTS
- Premier corner retail on Broadway and Warren Street provides investors the opportunity through lease-up along this busy Broadway corridor.
- Premier location known for its upscale shopping and dining options
- Current tenant, De Janiero, provides immediate cashflow to investors.
EXECUTIVE SUMMARY
With 215’ of frontage along Broadway and Warren Street, the property benefits from significant foot traffic and excellent transit accessibility, mere steps away from the 1, 2, 3, 4, 5, 6, R, W, and J, Z subway lines and the Fulton Center Retail Complex. This high visibility location offers prospective purchasers an exceptional opportunity to own a retail asset holding untapped value in one of Manhattan’s most desirable sub markets.
PROPERTY FACTS
| Total Property Size | 111,474 sq ft | Floors | 12 |
| Property Type | Build-to-Rent (Unit) | Typical Floor Size | 7,620 sq ft |
| Property Subtype | Apartment | Year Built | 1915 |
| Costar Property Class | B | Total Plot Size | 0.25 ac |
| Use Class | C5-3 - Central Commercial District with Continuous Retail Frontage intended for Offices and Retail Establishments that Serve the Entire Metropolitan Region. | ||
| Total Property Size | 111,474 sq ft |
| Property Type | Build-to-Rent (Unit) |
| Property Subtype | Apartment |
| Costar Property Class | B |
| Floors | 12 |
| Typical Floor Size | 7,620 sq ft |
| Year Built | 1915 |
| Total Plot Size | 0.25 ac |
| Use Class | C5-3 - Central Commercial District with Continuous Retail Frontage intended for Offices and Retail Establishments that Serve the Entire Metropolitan Region. |
AMENITIES
SITE AMENITIES
- 24 Hour Access
- Public Transportation
1 UNIT AVAILABLE
Unit RET-A
| Unit Size | 14,262 sq ft | Sale Type | Investment or Owner Occupier |
| Unit Use | Retail | Sale Conditions | Option to Purchase with Lease, High Vacancy Property |
| Unit Size | 14,262 sq ft |
| Unit Use | Retail |
| Sale Type | Investment or Owner Occupier |
| Sale Conditions | Option to Purchase with Lease, High Vacancy Property |
SALE NOTES
Meridian Investment Sales is pleased to present the exclusive offering for the retail condominium at 261 Broadway. Perched on the busy corner of Broadway and Warren Street at the base of a luxury residential building, the retail condominium spans 14,262 SF with over 8,500 SF of grade level retail space directly across from Zuccotti Park and City Hall.
The asset is currently occupied by De Janeiro, an affordable women’s fashion brand, with over 3,000 SF. The tenant has another 3.5 years remaining on their lease with no extension options on their lease, providing a mark-to-market opportunity upon lease expiry in 2028.
Bank of America, who had been in this location since the early 2000s, recently vacated 5,500 SF on the tony corner with significant street level exposure. The property is not landmarked - providing savvy investors the ability to create store frontage along Warren Street and lease smaller, more efficient tenant spaces and to capture higher rents. In addition to this valuable corner lease-up opportunity, investors can collect additional cash flow through the leasing of the 5,750 SF of lower level space.
Floor Plan
Interior Photo
Interior Photo
Interior Photo
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| Studios | 65 | - | - |
Presented by
261 Broadway
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