-- Nine retail units totaling approximately 10,000-square-feet at 262-272 Mott Street, and five-story, mixed-use building at 135-137 Thompson Street --
Eastern Consolidated is seeking bids for a package of nine retail condo storefronts at the base of a luxury loft condominium at 262-272 Mott Street in Nolita, and a separate five-story mixed-use building at 135-137 Thompson Street in SoHo. The bids are due June 16.
The properties can be sold together or separately. The asking price for 262-272 Mott Street is $27.5 million, and the asking price for 135-137 Thompson Street is $17.5 million.
Exclusive broker Adelaide Polsinelli, Senior Director Managing Director and Principal, is marketing the properties.
The package of retail condos at 262-272 Mott Street offers over 120 feet of prime retail frontage along Mott Street with eight of the street-level units featuring 12-foot ceiling heights and one lower level space featuring a 20-foot ceiling height. Unit sizes range from 371 to 2,526 square feet.
“The package at 262-272 Mott Street is one of the largest portfolios of contiguous retail space available for sale on one of the hottest streets in Nolita,” Polsinelli said. “This is a great opportunity for an institutional investor or a 1031 exchange buyer who wants to invest in a retail portfolio. Unique and exciting retailers are currently leasing space in the building, which offers visually stimulating storefronts and exceptional 19th Century details. Nolita is hip, cool, and is now seen as an extension of SoHo, offering a blend of dining, entertainment, shopping, culture, and night life.”
Built in the 1850s and converted to luxury loft condominiums in 1992, the retail condos are located on atree-lined block between Prince and Houston Streets. Stores currently leasing space include Fjallraven Artic Fox, a Swedish outdoor brand; Tai Rittchai, a high-end jewelry line; and Rebecca Hossack gallery.Retail rents average $250 to $280 on the block.
The mixed-use property at 135-137 Thompson Street features 25 feet of prime SoHo retail frontage and two occupied ground floor retail spaces. The remainder of the building is comprised of 15 apartments, all of which are studios except for two duplex units.
“The property at 135-137 Thompson Street presents investors with the opportunity to acquire a SoHo multifamily asset with a stable in-place cash flow and significant, long-term upside potential,” Polsinelli said.
Eastern Consolidated
Powered by a highly skilled team of over 80 brokers with a fluency in 15 languages, Eastern Consolidated is one of the country’s preeminent full-service commercial real estate firms. Through three core divisions—Investment Sales, Capital Advisory, and Retail Leasing—Eastern Consolidated serves an impressive roster of international and domestic institutional and private investors on real estate transactions of all sizes and across all property types. For more information, visit www.easternconsolidated.
