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A valuable retail condo located in the heart of TriBeCa’s popular retail area was just sold for $2.5 million by Eastern Consolidated. The condo is currently occupied by Housing Works, a high-end thrift shop, and is 1,500 square feet and includes an additional 1,500 square feet of fully renovated basement.
With the TriBeCa retail area on the rise, buyers are beginning to take advantage of these types of lucrative real estate investments. Robert Khodadadian of Skyline Properties represented both the buyer and the seller in this exchange of local investors, along with Adelaide Polsinelli, the Senior Director of Eastern Consolidated. Both Khodadadian and Polsinelli feel the new ownership will see a tremendous benefit and return on investment due to the large growth of tourists and residents in Lower Manhattan, which they project an increase in demand for retail services.
Other major retail companies that moved in the area recently include Barnes & Noble, Starbucks, Whole Foods Market, and many new restaurants. If you’re interested in obtaining real estate in the TriBeCa area, contact Robert Khodadadian or Skyline Properties.