109-111 Mercer St
New York, NY 10012
Retail Property For Sale

111 Mercer Street consists of approximately 4,089 SF: 2,148 SF at grade and 1,941 SF sellable lower level, which includes a fully fixtured kitchen. The Unit was previously occupied by Georgetown Cupcake. The historic building’s architecture includes wood-framed windows, original cast-iron columns, and soaring ceilings 12.5 foot ceilings on the ground floor. The rear portion of the ground level contains glass windows as well as a skylight, providing substantial light throughout the Unit. Purchase of the unit also comes with two board seats allowing the buyer leverage when considering tenants and future uses for the space. The Unit is well positioned in one of the city’s most popular destinations for tourists and locals alike. Surrounded by countless shops and restaurants, there is no shortage of foot traffic in the area and the streets are always bustling with activity. The Unit is conveniently located near numerous subway hubs including Prince St. Station servicing the E,N,R,W lines, Broadway-Lafayette servicing the A,B,D,F,M lines, and Spring Street Station servicing the 4,6 line. Since the pandemic, the heart of SoHo is thriving and coming back to life. After reaching a high watermark of $1,000/SF, average asking retail rents in the area are now only $340/SF according to REBNY’s Spring 2022 report. Although area rents are below the pre-pandemic peak, SoHo’s average asking rent has increased 10% year over year. Evidence of this renewed confidence is seen in Armani’s recent lease at $473/SF at 134 Spring Street. The pendulum on SoHo’s retail rents is no doubt swinging back.