109 Spring Street
109 Spring Street, New York City, NY 10012
Marketing description
Ariel property advisors presents 109-111 spring street, a trophy retail & residential investment opportunity in the heart of Soho.
Available for the first time in 40 years, this 5-story plus cellar, L-shaped, cast-iron loft building features 50' of frontage on Spring Street and 25' of frontage on Mercer Street.
With the ground floor & cellar commercial space slated to be vacant in early 2027, 109-11 Spring Street is a generational opportunity for luxury brands or institutional investors seeking flagship retail in the heart of SoHo.
In total, the building spans 30,717 total SF, which is comprised of 25,250 SF above-grade and 5,464 SF below grade. Above the retail space, there are 9 residential units from the 2nd through 5th floors.
Notably, the building also enjoys 2B tax-class status and signage income.
Investment highlights
- Generational Soho Offering: On the market for the first time in 40 years.
- World-Class, Flagship Retail Potential: All retail leases expiring in January 2027 presents immediate flagship location with strategic frontage on both Spring & Mercer Streets
- Tremendous Retail Synergy: Highly trafficked location surrounded by blue-chip luxury brands
- Substantial Residential Upside: Nine units (4 free-market, 5 rent-stabilized) currently operating well below Soho market rates.
- Valuable 2B Tax Designation: Tax assessment increases capped at 8% annually and 30% over five years.
- Additional Signage Income: Reliable, passive revenue via a 15-year signage lease on its prominent eastern facade.
- Abundant Mass Transit: Steps from A, C, E, N, R, W, B, D, F, M, and 6 subway lines.
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