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Two Retail Condominiums 2 condos • Commerce de détail • New York, NY
Certaines informations ont été traduites automatiquement.
Faits saillants de l'investissement
- Strong In Place Cash Flow with Additional Upside – 74% of NRA Leased to Investment Grade Credit.
- Ideal Corner Location boasting over 450’ of Wraparound Frontage Along Greenwich, Rector and Washington Streets.
- Opportunity to Hand Pick Additional Tenancy and Establish Long Term, Stable Cash Flow.
- Option to Assume Accretive Financing with 11.9 years WALT remaining.
- Situated at the Base of the Ultra-Luxury Condominium Building, Greenwich Club Residences.
- Located in the Heart of the Financial District just Two Blocks South of the World Trade Center.
Résumé de l'annonce
Newmark has been exclusively retained to market for the sale of the 100% fee simple interest in the retail condominium portion of 88 Greenwich Street (the “Property” or “the Offering”). The two-story Offering is located at the base of the ultra-luxury condominium, Greenwich Club Residences, in the Financial District neighborhood of Manhattan and offers approximately 60,393 Net Rentable SF.
The Property is divided into two commercial condos, each with its own tax lot (1001 and 1454), and is comprised of multiple retail units. The property is currently 82.6% NRA leased with a weighted average lease term of 11.9 years. Notably, 74% of the NRA is occupied by investment grade tenants including 7-Eleven, Inc., Dunkin’ and the Pilecki Institute, a government backed institution.
The Property’s anchor tenant, Pilecki Institute, is the sole tenant in the second retail condo (1454) and occupies the entirety of the second floor, as well as the cellar and a portion of the ground floor. The tenant contributes strong base rent and significant reimbursements and has 12.6 years of term remaining. The Pilecki Institute was established in 2017 by the Polish parliament and is revered as an investment grade credit tenant.
88 Greenwich Street is exceptionally located two blocks south of the World Trade Center and one block west of Trinity Church, offering immediate, steady foot traffic to the retail space. The asset is a short walk from Battery Park, Brookfield Place and City Hall. 88 Greenwich also offers unparalleled access to local transit as it is directly adjacent to the Rector Street subway stop and minutes away from several subway stations servicing the 1, R, W, 4 and 5 lines.
The Property is divided into two commercial condos, each with its own tax lot (1001 and 1454), and is comprised of multiple retail units. The property is currently 82.6% NRA leased with a weighted average lease term of 11.9 years. Notably, 74% of the NRA is occupied by investment grade tenants including 7-Eleven, Inc., Dunkin’ and the Pilecki Institute, a government backed institution.
The Property’s anchor tenant, Pilecki Institute, is the sole tenant in the second retail condo (1454) and occupies the entirety of the second floor, as well as the cellar and a portion of the ground floor. The tenant contributes strong base rent and significant reimbursements and has 12.6 years of term remaining. The Pilecki Institute was established in 2017 by the Polish parliament and is revered as an investment grade credit tenant.
88 Greenwich Street is exceptionally located two blocks south of the World Trade Center and one block west of Trinity Church, offering immediate, steady foot traffic to the retail space. The asset is a short walk from Battery Park, Brookfield Place and City Hall. 88 Greenwich also offers unparalleled access to local transit as it is directly adjacent to the Rector Street subway stop and minutes away from several subway stations servicing the 1, R, W, 4 and 5 lines.
Faits sur la propriété
| Type de vente | Investissement ou propriétaire utilisateur | Individuellement en vente | 0 |
| Statut | Actif | Taille totale du bâtiment | 60 393 pi² |
| Nombre de propriétés | 2 |
| Type de vente | Investissement ou propriétaire utilisateur |
| Statut | Actif |
| Nombre de propriétés | 2 |
| Individuellement en vente | 0 |
| Taille totale du bâtiment | 60 393 pi² |
Propriétés
| Nom de la propriété/adresse | Type de propriété | Taille | Année de construction | Prix individuel |
|---|---|---|---|---|
|
Greenwich Club Residences
88 Greenwich St, RDC - Unité 1454, New York, NY 10006 |
Commerce de détail Condo | 40 662 pi² | 1929 | - |
|
Greenwich Club Residences
88 Greenwich St, RDC - Unité 1001, New York, NY 10006 |
Commerce de détail Condo | 19 731 pi² | 1929 | - |
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Contacts
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Brett Siegel -
Maurice Suede -
Eric Roth -
Tyler Signora -
Christine Felling -
Newmark
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Vidéos
Visite extérieure 3D Matterport
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Two Retail Condominiums
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