Jones Lang LaSalle (“JLL”) and Ten-X have been retained on an exclusive basis by the lender to arrange the sale of the $5,800,000 Non-Performing Loan secured by the leasehold interest in a 4,748 SF retail co-op in the NoHo submarket of New York, NY. Constructed in 1930, the Property consists of 1,938 SF of grade retail space, 872 SF of mezzanine space, and 1,938 SF of sub-grade space. The Property is currently 100% occupied by Sneaker City, a sneaker and streetwear boutique.
QUICK PATH TO TITLE
The Lender currently has a summary judgment with a foreclosure date of 11/1/2023, allowing investors a direct path to title.
STABLE IN-PLACE CASH FLOW
The property is currently 100% occupied and cash flowing.
Nestled between SoHo, Nolita, East Village, and Greenwich Village; NoHo truly makes a name for itself as the epicenter of Manhattan. NoHo boasts some of the city’s most established stores and restaurants, including popular streetwear store, Kith, and renowned sushi restaurant, BONDST.
CONVENIENT TRANSIT-FOCUSED ACCESSIBILITY
The Property is situated within two blocks of three subway stations serving the 6, B, D, F, M, R, and W trains.