Retail

Located in the heart of Manhattan’s SoHo district, 111 Mercer Street, New York, NY, 10012 is an impressive 3-star retail storefront condominium property offering both retail and residential space. This 5-story building is available for sale at $6,750,000, priced at $1,650.77 per square foot.

Property Overview:

• Price: $6,750,000 ($1,650.77/SF)
• Sale Type: Investment
• Type: 3-Star Retail Storefront Retail/Residential Condo
• Gross Leasable Area (GLA): 11,348 SF
• Stories: 5
• Typical Floor Size: 2,148 SF
• Class: B
• Ceiling Height: 12’6″
• Docks: None
• Construction: Masonry

Key Features:

1. Prime SoHo Location:
   Positioned in one of New York City’s most desirable neighborhoods, 111 Mercer Street is surrounded by trendy boutiques, art galleries, restaurants, and high-end retail stores. The property benefits from high pedestrian traffic, making it an attractive option for both residential and commercial use.
2. Mixed-Use Flexibility:
   With a combination of retail storefront and residential condo units, this property offers flexibility for a variety of tenants, from luxury retail businesses to high-end residential clients. This mixed-use design enhances its appeal to investors seeking diverse income streams.
3. Impressive Ceiling Height:
   The 12’6″ ceiling height creates a spacious, open atmosphere, ideal for businesses that require high ceilings, such as galleries or upscale retail spaces, while also providing a luxury feel for residential units.
4. Solid Investment Metrics:
   The property offers a cap rate of 6.15%, suggesting steady income potential for investors. The combination of high demand for real estate in SoHo and the property’s design makes it an attractive investment opportunity with potential for appreciation.
5. Class B Masonry Construction:
   Built with durable masonry, this property is designed for longevity with minimal maintenance, ensuring ease of management and stability for its owners.

Conclusion:

111 Mercer Street presents a rare opportunity to acquire a mixed-use condo in a prime SoHo location. With strong investment potential, appealing features like large floor plates, impressive ceilings, and a flexible use design, this property is perfect for those seeking both a prestigious address and lucrative returns in New York City’s dynamic market.