261 Broadway, New York, NY 10007
261 Broadway, New York, NY 10007
Tribeca
Value-Add Retail Condo & Existing Cashflow | Corner Exposure in Premier Downtown Location
| Type | Retail Condo |
|---|---|
| Neighborhood | Tribeca |
| Lot Size | 9,500 SF |
| Zoning Code | C5-3 |
| Size | 14,262 SF |
Investment Highlights:
Meridian Investment Sales is pleased to present the exclusive offering for the retail condominium at 261 Broadway. Perched on the busy corner of Broadway and Warren Street at the base of a luxury residential building, the retail condominium spans 14,262 SF with over 8,500 SF of grade level retail space directly across from Zuccotti Park and City Hall.
The asset is currently occupied by De Janeiro, an affordable women’s fashion brand, with over 3,000 SF. The tenant has another 3.5 years remaining on their lease with no extension options on their lease, providing a mark-to-market opportunity upon lease expiry in 2028.
Bank of America, who had been in this location since the early 2000s, recently vacated 5,500 SF on the tony corner with significant street level exposure. The property is not landmarked – providing savvy investors the ability to create store frontage along Warren Street and lease smaller, more efficient tenant spaces and to capture higher rents. In addition to this valuable corner lease-up opportunity, investors can collect additional cash flow through the leasing of the 5,750 SF of lower level space.
With 215’ of frontage along Broadway and Warren Street, the property benefits from significant foot traffic and excellent transit accessibility, mere steps away from the 1, 2, 3, 4, 5, 6, R, W, and J, Z subway lines and the Fulton Center Retail Complex. This high visibility location offers prospective purchasers an exceptional opportunity to own a retail asset holding untapped value in one of Manhattan’s most desirable sub markets.
