Top 5 NYC Retail Building Sales—January 2025
The metro’s top deals for the sector rounded up by PropertyShark.
Sale Price: $50.5 million
California-based cybersecurity company Fortinet Inc. has purchased the 38,100-square-foot retail building in Chelsea from Atlas Capital Group. The buyer, which already had a New York City location, plans to use the four-story building as its office, The Real Deal reported. It is unclear if the current tenants will continue to lease space at 548 W. 22nd St., or if Fortinet Inc. will continue to operate from both New York City locations.
The property came online in 1920 and was last upgraded in 2021. It features 11,258 unused air rights and is currently occupied by NADA New York, Shah Garg Foundation and Santa’s Secret.
Sale Price: $25.4 million
The 8,920-square-foot retail unit of the multifamily building at 73 Wooster St. was acquired by Acadia Realty Trust from EPIC, a London-based owner and developer of commercial real estate. The asset previously changed hands in 2011, when EPIC paid $15 million to Vornado Realty Trust for it.
The five-story building is in SoHo and totals 37,443 square feet. It dates back to 1929 and was last updated in 2003. The retail condo is currently leased to Italian luxury brand Moschino.
Sale Price: $22.4 million
Westhab Inc. has purchased the 20,411-square-foot, two-building retail asset in Brooklyn’s Sheepshead Bay from Slate Property Group. The buyer, an affordable housing provider and developer, landed $124 million loan originated by Wilmington Trust, for the development of a residential project at the property.
In July 2024, Slate Property Group acquired the pair of buildings in a $24.4 million portfolio deal, with plans to construct a seven-story residential community with 175 units. The development site has already received approvals since 2022 for a residential project.
The buildings at 2134 and 2150 Coyle St., came online in 1956 and include 55,407 square feet of unused air rights.
Sale Price: $7.1 million
Joey’z Shopping purchased the 14,662-square-foot retail building in the borough’s Fordham neighborhood from Abro Management Co. The buyer secured a $4.3 million acquisition loan from Interaudi Bank. The single-story building originally came online in 1955 and includes 15,931 square feet of additional air rights. Tenants here include Citibank and Dresses for Less Clothing.
Sale Price: $5.5 million
A private buyer picked up the 7,092-square-foot retail component of a 15-story residential building from Red Pine Capital Partners. The buyer landed a $3.7 million loan from SMS Financial through an amended and restated note. The commercial unit is within 1 Wall St. Court, also known as the Beaver Building or Cocoa Exchange. Designed by Clinton and Russell, the property was completed in 1904 as an office building and later converted into a condominiums in 2006.
—Posted on February 26, 2025
You must be logged in to post a comment.