78 Grand St — Sale in New York, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: New York, NY 10013
  • Size: 11,975 SF

Description

Newmark has been exclusively retained to offer for sale 100% of the Co-Op shares of 78 Grand Street (the “Offering” or the “Property”), an 11,975 square foot, mixed-use elevator building located on the north side of Grand Street between Wooster and Greene Streets in the heart of SoHo. This rare investment opportunity offers both near-term cash flow and long-term redevelopment potential in one of Manhattan’s most sought-after residential condominium conversion markets. 78 Grand Street is a 5-story property comprised of four expansive residential floor through apartments above a ground-floor retail unit. The residential portion is 100% free market and each unit measures approximately 2,250 square feet. Two of the four apartments are currently occupied under leases that are nearly 30% below market and exempt from good cause eviction. The retail unit, totaling roughly 1,975 square feet, is leased to Limonta, a globally recognized luxury textile brand, with 4 years of remaining WALT. The building features an existing elevator shaft and infrastructure, presenting the opportunity for modernization without requiring a complete overhaul. Given the lack of regulatory constraints and ideal unit layouts, 78 Grand presents a compelling opportunity to operate the building as rental or sellout traditional co-op shares.

Market Context

This commercial property in New York, NY is listed for sale across 11,975 SF. It has been on the market for 54 days. Compare it against other commercial property listings for sale in New York, NY — view the full market.

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