Top 5 NYC Retail Building Sales—December 2023
The metro's top deals for the sector rounded up by PropertyShark.
Sale Price: $23,037,735
Continental Equities Group transferred the ownership of the five-story retail building totaling 11,875 square feet in SoHo to A10 Capital. The lender provided a $27 million loan in late 2016 as well as a $2 million mortgage in 2019 for the former owner. The property includes 2,400 square feet of retail space as well as 9,475 square feet of space set aside for other uses.
Sale Price: $13,000,000
Tidal Real Estate Partners sold the 5,277-square-foot retail space along with the 7,169-square-foot 265 State St. #COMM 1 and the 5,068-square-foot 265 State St. #COMM 2 in Boerum Hill. Ohana Real Estate Investors acquired the retail condominiums as part of a larger transaction totaling $110.5 million, which also included The Hilton Brooklyn New York hotel at 140 Schermerhorn St. Deutsche Bank financed the portfolio transaction with a $76.8 million loan.
Sale Price: $9,775,000
A private investor sold the two-building property totaling 16,200 square feet in Flatlands. The complex includes 4,440 square feet of office space and 11,760 square feet of retail space across two commercial units. The property is easily accessible by the 2 and 5 subway lines with the nearest station located at the northeast corner of Nostrand and Flatbush Avenues.
Sale Price: $5,000,000
A private investor acquired the 475 square feet retail condominium as well as the 4,609-square-foot 157 Chambers St. #COMM 1 portion of the Artisan Lofts Condominium building in TriBeCa. The 17-story high-rise also includes 38 residential units. Originally built as an industrial building the 110,000-square-foot property was converted to its current use in 2006.
Sale Price: $5,000,000
After more than a decade of ownership, a private investor sold the 1,494-square-foot retail property in Hudson Square. Completed in 1915, the single-story building was last updated in 2007. The closest subway station, situated at the northwest corner of Canal Street and Varick Street, is conveniently placed near the property and serves the 1 subway line.
Sale Price: $3,800,000
An entity linked to T&E Stores Inc. acquired the 13,175-square-foot property in Williamsburg. The buyer secured a financing package, which included a $1.9 million loan funded by Dime Community Bank and a $1.5 million loan financed by Pursuit (formerly New York Business Development Corp.). Built in 1910, the building includes 8,175 square feet of retail space and 5,000 square feet set aside for other uses.
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