New Retail Condominium in SoHo Is on the Market

Thursday, March 22, 2018
Rendering with storefront elevation

Update: This portfolio is no longer on the market. Please click here for a listing of our current commercial real estate investment listings. 

Holliday Fenoglio Fowler, L.P. (HFF) has been exclusively retained to arrange the sale of 150 Wooster Street, an exceptional newly constructed retail condominium located in SoHo just steps off Prince Street. The property consists of 6,196 square feet of grade-level retail space and 3,919 square feet of lower-level retail space for a total of 10,115 square feet. The property benefits from strong foot traffic driven by SoHo’s status as a premier destination shopping and entertainment district.

Featuring two expansive glass storefronts on each side of the entrance to the luxury residential condominium units located above, the retail space offers optimum flexibility to be leased to one tenant or divided into two smaller units. Both units offer 30.5 feet of frontage, two levels of legal selling space, open layouts that are nearly column-free, soaring 16-foot ceiling heights and 35 feet of skylights. Current ownership designed the retail property to pay homage to SoHo’s historic context while offering modern sensibility that is sure to capture a tenant’s vision for a flagship location. Surrounded by retailers such as Apple, Chanel, Louis Vuitton, Diane Von Furstenberg, Ralph Lauren, Christian Dior and many more, 150 Wooster provides an unparalleled blank canvas retail asset in one of the world’s most coveted retail corridors.

SoHo Retail Condominium for Sale Investment Highlights

  • World-Renowned Mixed-Use Neighborhood:  The retail property for sale is situated along Wooster Street in SoHo, New York City’s most vibrant and trendiest live-work-play neighborhood. SoHo has experienced a transformation unlike any area in Manhattan over the past decade, becoming a top destination for residents, office tenants, shopping, tourism and culture. SoHo boasts a daytime population of approximately 500,000 people and subway traffic of an estimated 38 million.
  • Favorite Tax Class 2C:  Highly advantageous tax treatment minimizes tax exposure to both the owner and tenants, enabling the focus to be on pushing face rents. Additionally, 150 Wooster Street represents the opportunity to acquire an asset with substantial upside in both the short and long term. Short-term upside is provided by the lease-up of the newly available flagship retail space, while long-term upside can be realized through the continued growth of one of the world’s most recognized corridors.
  • Rare New Construction:  The newly constructed retail space that is efficiently designed to accommodate one or two tenants boasts soaring 16-foot ground-floor ceilings; a column-free floor plan; a modern, on-grade glass storefront; legal lower-level space; rear perimeter skylights that bath the space in natural light.  Additionally, the space has two ADA-compliant elevators.
  • Resilient New York City Retail Market:  The resilient NYC retail market, and particularly SoHo, is regaining steam with a significant pickup in investment and leasing activity in recent months, fueled by continuing strength from economic, residential and tourism activity. Additionally, in SoHo, annual retail sales toppled $8 billion.
Rendering of ground-level retail

For more information on this commercial real estate listing or other retail properties for sale in and around New York City, please contact Rob Rizzi, Steven Rutman or Andrew Scandalios in HFF’s New York office. To view HFF’s current real estate investment sales listings, please click here.

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