Delshah Capital hired Meridian Investment Sales, the commercial property sales division of Meridian Capital Group, to exclusively market its retail condominium, located at 170 Mercer Street in the Soho neighborhood of New York City for $7.5 million.
The property is a two-story, 1,950 square foot retail condominium in the heart of Soho, located on the East side of Mercer Street, between Houston Street and Prince Street. The newly renovated property offers a favorable triple net lease to Shamballa Jewels, a designer jewelry brand featured in 25 stores worldwide.
Soho, once home to a thriving industrial district, has established itself as one of the trendiest neighborhoods in Manhattan. Its landscape offers a seamless mélange of the past and present: stunning cast-iron architecture, ornate pre-war buildings, cobblestone streets, high fashion boutiques, designer furniture stores, chic eateries, and creative hot spots, making it a highly-traveled destination.
The retail condominium at 170 Mercer Street is at the center of it all, in close proximity to the B, D, F, and M subway lines at the Broadway-Lafayette Street station, the R and W subway lines at the Prince Street Station, and the 4 and 6 subway lines at the Spring Street station.
Meridian Managing Director, Inbal Himelblau-Denman, Senior Executive Managing Director, David Schechtman, Managing Director, Abie Kassin, and Managing Director, Lipa Liberman are marketing the 170 Mercer Street property.
"Retail not only lives, it thrives when you combine intelligent spaces with established brands. In the case of 170 Mercer Street, the in-place lease provides for positive cash flow on a highly financeable asset located on a block which has withstood market shifts for decades,” said Mr. Schechtman. “This is a strong opportunity for an investor to acquire a premium piece of Soho real estate at market corrected pricing.”
Founded in 1991, Meridian Capital Group, LLC is one of the nation's largest commercial real estate finance and advisory firms. Meridian is headquartered in New York with offices in New Jersey, Maryland, Illinois, Florida and California. Working with a broad array of capital providers, Meridian arranges financing for transactions ranging from $1 million to more than $500 million for multifamily, co-op, office, retail, hotel, mixed-use, industrial, healthcare, student housing, self-storage and construction properties. www.meridiancapital.com