Retail

25 West 14th Street

25 W 14th St, New York, NY, 10011-7418, US

25 West 14th Street_Property for Sale

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Asset description

JLL has been retained on an exclusive basis to arrange for the sale of 25 West 14th Street, a 2-story retail building featuring an incredible 175’ of frontage and consisting of four commercial units totaling 61,884 rentable square feet. The property is located mid-block on the north side of West 14th Street between 5th and 6th Avenues, just steps away from Union Square. Built in 1929, the building is 100% occupied with 7.2 years of weighted average lease term. Considering the impact of the pandemic on many retail corridors, the 100% occupancy speaks not only to the quality of the tenancy, but the excellence of location.

Attributes

Building area gross
61,884 sf
Occupancy
100.00%
Year built
1929

Investment highlights

  • STABLE IN-PLACE CASHFLOW: The property is currently 100% occupied by 4 diverse retail tenants.


  • 7.2 YEAR WEIGHTED AVERAGE LEASE TERM: 80% of the income in-place until the end of 2029.


  • PROXIMITY TO BUSTLING UNION SQUARE PARK: The park serves as an oasis for residents, employees, and tourists featuring year round attractions such as the Union Square Greenmarket which consistently achieves over 250,000 customers per week.


  • 175’ OF HIGHLY VISIBLE RETAIL FRONTAGE: In 2021 Union Square reached 91% of its pre-pandemic foot traffic throughout the corridor.


  • EASY ACCESS THROUGHOUT MANHATTAN: The 14th Street / Union Square subway station consistently averages over 30 million riders annually, 4th most in NYC.


  • SITUATED IN A RETAIL HUB THAT IS ON THE REBOUND: Since 2021, 46 New Businesses have either opened or been announced in the neighborhood, a testament to its continued popularity and resilience.

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Last updated
Nov 30, 2022