Cushman & Wakefield Retained Exclusively to Sell Retail Condominium in Financial District
Cushman & Wakefield has been retained on an exclusive basis to sell a retail condominium located in The Downtown Club at 20 West Street. The property is located between Morris and Battery Streets in Manhattan’s Financial District. The asking price is $6,250,000.
The condominium contains approximately 10,538 square feet and features a private outdoor space. It benefits from frontage on West and Washington Streets. The condominium is currently leased to national tenant, The Learning Experience, who has over 200 locations nationwide and was recently named the fastest growing childcare center franchise and a Top 500 franchise by Entrepreneur Magazine.
The property is centrally located four blocks from Brookfield Place, two blocks from the 4 and 5 train stop at Bowling Green, and four blocks from the 1 and R stops at Rector Street. Additionally, it is in close proximity to Battery Park City, South Street Seaport, and the Staten Island Ferry.
“It’s rare to find a 5.5% cap rate anywhere in Manhattan today, let alone one with a well-known, national credit tenant in place providing much needed educational services to families in Lower Manhattan’s TriBeCa and Financial District neighborhoods,” said Cushman & Wakefield’s Will Suarez, who is exclusively marketing this property with James Nelson. “As the downtown market continues to grow and thrive, retail spaces like 20 West Street are only going to increase in value,” added Nelson.