Avison Young is currently promoting a retail and residential property located at 535 Broadway in the historic SoHo district. This five-story building, constructed in 1852, boasts a total of 14,225 square feet. The upper four floors offer spacious residential units totaling 9,600 square feet while the ground floor and lower level provide an additional 4,625 square feet for retail use. There is also a sub-cellar measuring at approximately 2,350 square feet.
This fully occupied property includes three free-market apartments on separate floors as well as one rent-stabilized unit occupying an entire floor. Recently leased to POP MART for their flagship store in New York City is the ground floor duplex.
The team representing the sellers from Avison Young’s Tri-State Investment Sales division consists of James Nelson (head), Brent Glodowski , Eric Karmitz , and Alexandra Marolda .
According to Nelson: “SoHo has experienced significant growth since recovering from recent economic downturns along with Madison Avenue.” He adds that these two areas have been leading examples when it comes to leasing commercial spaces such as offices or mixed-use properties plus investment sales involving both retail establishments and other types of businesses over this past year alone.
Nelson concludes by stating that initial interest shown by potential buyers reflects their strong desire to be part of Manhattan’s most prestigious shopping districts.
