Listed by Katz & Associates
Unpriced
1657 Broadway - 100% Occupied Leasehold Position
Details
Property Type Retail, Office
Sub Type Executive Office, Leasehold
Square Footage 101,945
NOI $388,000
Occupancy 100%
Tenancy Multi
Lease Term 39.4
Lease Expiration 02/08/2111
Remaining Term 87
Year Built 1929
Retail | 101,945 SqFt
Investment highlights
- Katz & Associates, as exclusive advisor to Ownership, is pleased to present the opportunity to acquire a partial interest in the leasehold position in the retail property located at 1657 Broadway (the “Property” or the “Offering”), a premier retail asset situated in the heart of Midtown Manhattan. Located on the bustling intersection of Broadway and between West 51st Street and West 52nd Street, the Property sits at the base of the prominent, M Social hotel (not part of the Offering), benefiting from unparalleled visibility and access in one of New York City’s most sought-after retail corridors.
- The asset is comprised of nearly 102,000 Net Rentable SF of prime retail space and is 100% leased to multiple long-standing national tenants. With an incredible weighted average lease term (WALT) of 39.4 years, the Property provides a stable and diversified income stream, reinforced by the high-credit quality of major tenants including Duane Reade and McDonald’s. Additionally, the space boasts over 300’ of premium ground and secondfloor wraparound frontage along Broadway, one of the city’s most trafficked commercial avenues.
- With its prime location in a dense commercial district, 1657 Broadway enjoys direct proximity to New York City’s top cultural attractions, office buildings, and entertainment venues, making it a critical hub for retail activity. The asset benefits from exceptional connectivity situated within one block of the A, B, C, D, and E lines and only two blocks further from the N, Q, R, and W subways.
- The Property is being sold subject to an existing, minimally impactful ($45k/year), ground lease with 87 years of remaining term (LXD: February 9, 2111).
- This is a unique opportunity to acquire a partial interest in the leasehold position in a 100% occupied retail asset in one of the most premier markets in the world. All inquiries should be directed to Katz & Associates.
Listing Contacts
Listed by Katz & Associates
Map
Zoning
C6-7 CommercialGeneral CommercialGeneral Central Commercial
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