Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Massey Knakal Retained Exclusively To Sell Retail Condominium Located In Lower East Side / Chinatown

10/04/2013

Massey Knakal Realty Services has been retained on an exclusive basis to sell a retail condominium at 17 Orchard Street. The property is located between Canal and Hester Streets in Manhattan’s Lower East Side / Chinatown neighborhood. The asking price is $2,100,000.

The space contains approximately 2,556 square feet, with 1,308 square feet on the ground floor and a 1,248 square foot basement.  It is currently occupied by The Fat Radish, a popular neighborhood restaurant and bar that has been open since 2010. The Fat Radish will continue to occupy this space, with its lease expiring in 2023. The ground floor has a small bar at the front and a large restaurant towards the rear, and the full basement is used for storage and cooking.  The building was recently converted to condominiums around 2009, and the retail unit received a complete facelift and gut renovation.

This property is located less than 150 feet from 54-56 Canal Street, a former bank building that is being converted into a high-end hotel.

“The offering presents an opportunity for an investor to own one of the few prime retail condos on Orchard Street in the Lower East Side, an area that is rapidly emerging as a destination to shop, dine, and entertain,” said Massey Knakal’s Michael DeCheser, who is exclusively marketing this property.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,500 transactions having a market value in excess of $17 billion.

www.masseyknakal.com

10/04/2013 - 08:33

Source

Cushman & Wakefield Capital Markets Group New York

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