143 Grand Street
Prime SoHo Commercial Building For Sale
|Lot Size||1,440 Square Feet|
|Size||4,300 Square Feet|
|Air Rights||12,980 Square Feet|
Meridian Investment Sales is pleased to exclusively present for sale, 143 Grand Street, a commercial building in the heart of Soho’s Cast Iron Historic District. Situated between Crosby and Lafayette Streets, this property presents a rare opportunity to acquire approximately 4,300 gross SF in New York City’s most sought-after enclave. There is an LOI out on the retail and floors two through four will be delivered vacant, presenting investors the option for continued use as office or reposition for a user. The 1,400 SF retail space is vented and also offers a 1,400 SF basement. Importantly, the LOI for the ground floor retail has a base rent of $120 PSF with increases of 21% and 18% in years two and three, respectively, plus reimbursements over a base year. Additionally, the building offers 2,900 SF of air rights allowing investors the opportunity to construct additional FAR. In addition, 143 Grand Street is situated directly across the street from the almost complete park at the northwest intersection of Grand and Lafayette Streets. The park will attract tourists and residents alike and is a true rarity in SoHo.