169 Spring Street, New York, NY, 10012, US

169 Spring Street

Description

169 Spring Street offers a rare opportunity to acquire a retail asset which is leased to a globally recognized fashion brand in the heart of one of the most desired retail corridors in the entire world. 169 Spring Street is located on the north side of Spring Street between West Broadway & Wooster Street in the SoHo neighborhood of downtown Manhattan. The offering is owned in a Co-Op ownership structure and is 100% leased to Salomon, a French based apparel company. The Property is 2,300 SF and occupies 25’ of frontage along Spring Street. Salomon is operating under a sub-lease and has 4.3 years remaining on the base term of their lease (2030 expiration).

...

Attributes

Building area gross

214 m²

Frontage on Spring Street

25'

Leased / Occupied

100%

WALT

4.3 years

Media

Investment Highlights

SOHO RETAIL MARKET

Nestled within one of the nation’s most coveted infill submarkets, this property stands at the heart of a world-renowned retail corridor. Situated among luxury titans, the location boasts proximity to flagship stores of iconic brands such as Gucci, Celine, and Saint Laurent. Asking rents increased quarter-over-quarter by 9% in the neighborhood. These record high occupancy rates combined with the strength of rents in the neighborhood make SoHo the most desired prime urban retail corridor in North America.

GLOBALLY RECOGNIZED RETAILER

Salomon is a global leader in outdoor and winter sports equipment, footwear, and apparel. With their products sold in over 40 countries, the fashion-forward brand is known across the globe as a leader in their respective space. Unit-level sales reporting perform very well at this location.

PREMIER ACCESS TO TRANSPORTATION

169 Spring Street is within walking distance of several subway stations, including the Spring Street C and E lines just two blocks away. The Prince Street station (N and E lines) and the Broadway-Lafayette Street station (B, D, F and M lines) are also nearby, offering convenient connections across all of New York City.