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

Massey Knakal Retained Exclusively To Sell Retail Condominium In Tribeca

06/27/2014

Massey Knakal Realty Services has been retained on an exclusive basis to sell a retail condominium at 95 Chambers Street (AKA 77 Reade Street). The property runs block through between Broadway and Church Street in Manhattan’s TriBeCa neighborhood. The asking price is $22,500,000.

Situated in a newly-renovated building, the unit contains approximately 8,450 square feet on the ground floor and 4,188 square feet on the basement level for a total of approximately 12,638 square feet with 15-foot high ceilings.  It is currently occupied by European Wax Center and Reade Street Prep and also contains two vacant spaces.  The unit features approximately 79 feet of frontage on Chambers Street and 49 feet on Reade Street. In addition, the retail rents on Chambers Street are surging after being depressed by major street construction which will be completed in the fall.

This unit is located less than two blocks from the Chambers Street and City Hall subway stations, providing access to multiple subway lines.  It is also four blocks from the World Trade Center and WTC transportation hub.  Neighboring tenants include Dunkin’ Donuts, Starbucks, LePain Quotidien, GNC, Smyth Hotel, and Sophie’s.

“The property benefits from heavy foot traffic, with over 18,000 people passing daily, as per a 2012 report by the Downtown Alliance,” said Massey Knakal’s James Nelson, who is exclusively marketing this property with Will Suarez.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,700 transactions having a market value in excess of $19 billion.

www.masseyknakal.com

06/27/2014 - 11:00

Source

Cushman & Wakefield Capital Markets Group New York

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