Cushman & Wakefield Sells Mixed-Use Building in Greenwich Village
A mixed-use building at 86 University Place, located between West 11th and West 12th Streets in Manhattan’s Greenwich Village, was sold in an all-cash transaction.
The five-story building contains approximately 7,365 square feet and sits on a 24’ x 98.59’ lot. It consists of a restaurant in the basement, ground and second floors and four fair market apartments above. The third floor has a one-bedroom apartment in the front and a two-bedroom apartment in the rear and the fourth and fifth floors each consists of a floor-through three-bedroom apartment. Additionally, the property holds unused air rights. The sale price equates to approximately $1,867 per square foot.
“At $1,867 per square foot, we achieved a new record for a 24-foot wide walk-up building on this stretch of University Place. The neighborhood could not get any hotter than it is right now,” said Cushman & Wakefield’s James Nelson, who exclusively handled this transaction along with Mitchell Levine.