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106-110 Seventh Ave - Retail Condominium Local commercial 425 m² 6 403 220 € À vendre New York, NY 10011
Certaines informations ont été traduites automatiquement.
INFORMATIONS SUR L’IMMEUBLE
1 LOT DISPONIBLE
Lot 1
| Surface du lot | 425 m² | Usage du lot en coprop. | Local commercial |
| Prix | 6 403 220 € | Type de vente | Investissement |
| Prix par m² | 15 068,58 € |
| Surface du lot | 425 m² |
| Prix | 6 403 220 € |
| Prix par m² | 15 068,58 € |
| Usage du lot en coprop. | Local commercial |
| Type de vente | Investissement |
DESCRIPTION
Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis to arrange for the sale of the retail condominium at 110 Seventh Avenue (“The Property”) aka The City Prairie Condominium. Originally a Chelsea warehouse built in 1910 and reimagined into eleven ultrachic full floor lofts above the retail, the property was converted by the Tamarkin Company in 1997. The prime commercial space occupies the base of the building, situated along the west side of Seventh Avenue between West 16th and West 17th Streets in the heart of Chelsea. The retail condo contains approximately 4,574 square feet at grade and offers an additional 2,981 square feet below grade. Featuring just over 50’ of Seventh Avenue frontage with floor to ceiling windows and approximately 18’ ceiling heights, the Property is located steps from two major subway stations: the 14th St / 8th Ave station serving the A C E L trains, and the 14th St / 6th Ave station serving the 1 2 3 L F M and PATH trains.
NOTES SUR LA VENTE
50’ OF VALUABLE RETAIL FRONTAGE: The Property maintains an impressive 50’ of frontage along the bustling 7th Avenue corridor, allowing for enhanced retail visibility and accessibility.
STRONG, IN-PLACE CASH FLOW: Prospective ownership will benefit from having an in-place, credit tenant that is generating approximately $583,283 in annual revenue.
CREDIT TENANT W/ TERM: Williams Sonoma, BBB Rating with strong financial standing, has occupied the space since 2003 and has four (4) years of term remaining.
UNDER MARKET LEASE: The current lease extension was executed during the pandemic at a discount to current market rates. As a result, there is embedded upside in the rent upon lease renewal due to the previous reduction and significant retail resurgence in Manhattan.
RETAIL RECOVERY LEADING TO FUTURE UPSIDE: Chelsea has undergone a remarkable retail transformation to become a diverse and eclectic shopping destination, with an influx of high-end retailers, boutique shops and unique cultural experiences. This resurgence positions 110 Seventh Avenue to capitalize on the available upside in rent upon renewal.
LUXURY CONSUMER BASE: Recently completed / upcoming
large-scale residential developments have added hundreds of new luxury units to Chelsea, contributing to substantial growth in foot traffic in the neighborhood.
EXCELLENT CONNECTIVITY: 110 Seventh Avenue is well positioned near multiple major subway stations servicing the A C E L 1 2 3 trains, which offer accessibility to all points of Manhattan.
LOT INFORMATIONS SUR LA COMBINAISON
| DESCRIPTION | NB DE LOTS | MOY. LOYER/MOIS | m² |
|---|---|---|---|
| Studios | 11 | - | - |
Présenté par
106-110 Seventh Ave - Retail Condominium
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