Firm Will Market Retail Space for Lease for New Owner
NEW YORK (October 26, 2016) – RKF, North America’s leading independent real estate firm specializing in retail leasing, investment sales and consulting services, announced today that it has represented Premier Equities in its acquisition of the 2,354-square-foot retail condominium at 42 Hudson Street in Tribeca. The purchase price was $3.4 million and the transaction closed October 19, 2016. RKF will serve as leasing agent for the retail space.
RKF Vice President Brian Segall and Associate Chris Masi represented Premier Equities in the transaction, while the seller, Duane Square Overlook Corp., was represented by BOND New York’s Jacob Fine.
Situated on the east block between Duane and Thomas Streets, the retail condominium at 42 Hudson sits at the base of a mixed-use low-rise building boasting a circa 1915 cast-iron façade, a large canopy and 16 feet of frontage on Hudson Street. It is located in the heart of Tribeca, right above the picturesque triangle of Duane Park, in one of Manhattan’s strongest retail markets and only a few blocks from the World Trade Center.
The highly desirable retail space includes 1,900 square feet on the ground floor and 650 square feet in the basement. Neighbors include J.Crew Ludlow Shop, Bouley, Nili Lotan, Manuel Racim, Aesop, Jacadi, The Armoury, Lovely Bride, Calypso, Roberta Roller Rabbit, Thom Browne, Laughing Man Coffee, Papyrus and Serafina (coming soon). The space was previously occupied by Shoofly.
“In the last two years, the arrival of major brands, such as Aesop, rag & bone, and James Perse point to Tribeca as a downtown alternative to SoHo for fashion retailers, with strong local demographics and quality of space,” said Masi. “Additionally, the renaissance of the Financial District, which shares express subway stops with Tribeca, will only add greater density to this market. All these factors considered, commercial investors have cast their eyes towards Tribeca as a growth market.”
The leading independent real estate firm in North America specializing in retail leasing, investment sales and consulting services, RKF serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and dispositions. With approximately $30 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout the United States for leading American and international chains, retailers, developers and institutional clients. RKF is headquartered in New York with offices in Chicago, Las Vegas, Los Angeles, Miami, Northern New Jersey, San Francisco and Toronto. RKF operates in Canada as RKF Group Canada Realty, a retail brokerage.
RKF’s New York City office is located at 521 Fifth Avenue, Floor 7, New York, NY 10175. T: 212.599.3700. www.rkf.com