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 first four floors are dedicated to residential space totaling 9,600 square feet while the ground floor and lower level offer an additional 4,625 square feet for retail use. Additionally, there is a sub-cellar measuring at approximately 2,350 square feet.
This fully occupied property includes three full-floor apartments with free-market rates and 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 sellers have enlisted Avison Young’s Tri-State Investment Sales team to represent them during this transaction which includes James Nelson as head of Tri-State Investment Sales along with Brent Glodowski , Eric Karmitz , and Alexandra Marolda .
According to Nelson: “SoHo has been one of the strongest markets since its recovery from economic downturn alongside Madison Avenue.” He also notes that these two areas have seen significant activity within various sectors such as office leasing and mixed-use/retail investment sales over the past year alone. The high level of interest shown by potential investors reflects their desire to be part of Manhattan’s top shopping districts.
