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127-129 Prince St
New York, NY 10012
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- High Foot Traffic Area
- Easily accessible to multiple retailers, dining, and boutiques
- Steps away from public transit
- Prime SoHo Location
EXECUTIVE SUMMARY
127-129 Prince Street is located in the heart of Manhattan's SoHo District. It is situated near multiple high-end boutiques/shops, dining, and professional businesses. This building is just a walk away from multiple public transportation hubs within New York City.
PROPERTY FACTS
| Total Building Size | 32,921 SF | Floors | 7 |
| Property Type | Multifamily (Condo) | Typical Floor Size | 4,405 SF |
| Property Subtype | Apartment | Year Built | 1900 |
| Building Class | A | Lot Size | 0.12 AC |
| Zoning | M1-5A | ||
| Total Building Size | 32,921 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | A |
| Floors | 7 |
| Typical Floor Size | 4,405 SF |
| Year Built | 1900 |
| Lot Size | 0.12 AC |
| Zoning | M1-5A |
1 UNIT AVAILABLE
Unit + BSMT
| Unit Size | 3,960 SF | Sale Type | Investment |
| Condo Use | Retail |
| Unit Size | 3,960 SF |
| Condo Use | Retail |
| Sale Type | Investment |
DESCRIPTION
Gross annual rent of $1,320,000. Street frontage 134 ft.
SALE NOTES
Once in a lifetime opportunity to acquire super-prime Soho corner retail property being sold for the first time in 50+ years. With 134ft of frontage along Prince and Wooster Streets, the property is currently leased to Marc Jacobs and Lip Lab, two marquee, credit tenants. The asset features 3,960 SF above ground and an additional 1,322 SF of cellar space.
Both tenants are owned by LVMH (Louis Vuitton Moët Hennessy), the world’s largest luxury conglomerate.
Both leases were recently executed, including substantial tenant buildout investments (over $2.8 million for 127-129 Prince), with lease terms that run until 2028 and 2030, respectively.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 12 | - | - |
