HFF closes the sale of fully leased Greenwich Village retail condominium
NEW YORK, NY – July 26, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of a 26,401-square-foot, fully leased, three-level, block-through retail condominium at 808 Broadway and 104-110 4th Avenue in New York’s Greenwich Village neighborhood.
HFF marketed the property on behalf of the seller, 808 Broadway NYC, LLC. 808 Broadway Associates LLC purchased the asset.
The property is a combination of two adjacent buildings, 808 Broadway, which was completed in 1888, and 108-110 4th Avenue, which was completed almost a century later in 1981. The total square footage of ground-floor retail is 10,779. It is occupied by Masquerade, LLC, dba New York Costumes and Halloween Adventure and is the largest and highest volume costume store in New York City. Positioned at the end of East 11th in the heart of Manhattan’s Greenwich Village, the property has 153 feet of combined frontage on Broadway and 4th Avenue and is centrally located just south of the Strand Bookstore and between New York University, Stuyvesant Town, Washington Square, the Bowery and Tompkins Square. Additionally, the property is a couple blocks south of the Union Square subway station, the fourth busiest in New York City, and close to Astor Place station.
The HFF investment sales team was led by senior managing director Andrew Scandalios, managing director Rob Rizzi and director Steven Rutman.
“We received a tremendous amount of interest from both private and institutional investors for this unique asset on a section of Broadway that is currently undergoing an impressive transformation,” Rizzi said. “New York Costumes is an iconic New York company, and their success is a testament to retailers that are thriving in the ever-changing retail environment.”
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.