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29581503
29581504

825 Broadway, New York, NY 10003

MM
NY 10491203132
Marshall Real Estate, LLC
Listed by Marshall Real Estate, LLC
$6,500,000
121 days on market
Updated 29 days ago

825 Broadway

Details
Property Type Retail
Sub Type Storefront
Square Footage 4,000
Cap Rate 7.25%
NOI $471,409
Occupancy 100%
Tenancy Single
Brand/Tenant Cohen Fashion Optical
Lease Type Modified
Rent Bumps Yes
Price per SqFt $1,625
Broker Co-Op Yes
Year Built 1979
Investment Type Stabilized
Ownership Cooperative Shares

Prime Union Square Retail for Sale

Marketing description

Marshall Real Estate LLC (“MRE”) has been exclusively retained to arrange the sale of 825 Broadway, a Retail Cooperative Unit located on the west side of Broadway between East 12th Street and East 13th Street, just one block south of Union Square. The property spans approximately 4,000 gross square feet across 2 floors. The ground floor features 2,000 square feet with an additional 2,000 square feet in the basement.

Located at the base of the 49 East 12th Street cooperative building, the property was converted in 1979 to 42 residential units with a retail store at the base. Centrally positioned in the Heart of Union Square / Greenwich Village, the subject property is steps away from several major subway lines and benefits from an exceptional blend of upscale residential living, an abundance of commercial office buildings leased to tech firms, high-end retailers, and world-class entertainment. The retail at 825 Broadway is surrounded by highly desirable co-tenancy that include Leon’s Italian Restaurant, Max Brenner, Whole Foods Market, Strand Bookstore and Regal Cinemas.

The storefront at 825 Broadway is 100% leased to “Cohen Fashion Optical”, a fashion-forward eyeglasses retailer that provides hundreds of communities with state-of-the-art eye exams and on-trend fashion eyewear. Founded in 1924 and headquartered in Garden City, New York, Cohen Fashion Optical currently has over 100 locations across the New York City metro area, Long Island, New Jersey, Pennsylvania, Connecticut, Massachusetts, Florida and Puerto Rico. The Retail Cooperative Unit at 825 Broadway is being offered unencumbered of debt to qualified investors on an “As Is” basis only. All inquiries should be directed to Marshall Real Estate LLC.

Investment highlights

• Prime Union Square retail location

• 45’ of frontage along Broadway

• High volume foot traffic location

• 100% leased to quality retailer with over 100 locations

• Located in dense residential, office, student and tourist neighborhood

• Nearby several schools including NYU, Cardozo School of Law, Parsons School of Design and New School University

Listing Contacts

MM
NY 10491203132
Marshall Real Estate, LLC
Listed by Marshall Real Estate, LLC

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$471,409.00
$39,284.08/mo

Valuation Metrics

0
DSCR
7.25%
Cap Rate
7.25%
ROI

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