Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1929
Building Area Gross
Occupancy 100.0 %

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.

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.
Last Updated Date: 12 Oct 2022

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Last Updated Date: 12 Oct 2022

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