597 Broadway
New York, NY 10012
Multifamily Property For Sale
·
9 Units
Executive Summary
Meridian Investment Sales is pleased to present the Exclusive Offering for 170 Mercer Street – a retail condominium located in between Houston Street and Prince Street in prime Soho. Consisting of 1,950 square feet, the Offering presents a favorable Triple Net lease to Shamballa Jewelry – a high-end jewelry brand featured in 25 stores worldwide. 170 Mercer Street is designated as its flagship location, as it had its Grand Opening in Fall 2017. Shamballa signed for a 10 year term with 3% annual increases. The tenant pays for all electricity, gas, fuel, water, hot water and real estate taxes, and has a one-time right to terminate the lease on the 5th anniversary of rent commencement. 170 Mercer Street offers an unrivaled location between Houston and Prince Streets. Stores in immediate proximity include Apple, Victoria’s Secret, Under Armour and Polo Ralph Lauren, in addition to the seven subway trains in a three block radius.
Property Facts
