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
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Key Features:
- 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.
- 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.
- 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.
- 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.
- 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.
