597 Broadway
New York, NY 10012
SoHo Net Lease Retail Condo · Multifamily Property For Sale · 1 Unit

Bonan Realty LLC in partnership with Ten-X Commercial is pleased to offer for sale, on an exclusive basis, a 2,013 sf retail condominium in SoHo that serves as the USA Flagship location for Shamballa Jewels. The property, Unit 1M at 170 Mercer Street (the “Property”) is part of a five story luxury residential condominium building known as 597 Broadway (the “Building”) that contains, loft-style apartments on floors 2 through 5 and a Billabong swimwear store at grade level on the Broadway side of the building. The Property, located between Houston and Prince Streets, has 23’ of frontage on Mercer Street and is leased on a net basis to Shamballa Jewels (the “Tenant”), a high-end Danish jewelry designer and retailer that was founded in 2005 and is popular among celebrities. In May 2017, the Tenant signed a 10 year lease with year one net rent of$367,500 per year, 3% annual increases and a September 2027 expiration date. The Property offers an unparalleled location. Stores in immediate proximity include Apple, Victoria’s Secret, Under Armour and Polo Ralph Lauren. There are six subway lines in a four block radius. This offering presents the opportunity for an investor to own a low maintenance, income producing property in a prime Soho location.