170 Mercer Street
- Transit-Oriented Access
- Significant Tenant Investment
- Brand New 10-Year Lease
- Exceptional Re-designed Space
- Flagship SoHo Location
Property Description
Avison Young, as exclusive agent, is pleased to offer for sale the retail condominium at 170 Mercer Street (the “Unit”). Located along the iconic cobblestones of the SoHo Cast-Iron Historic District, the Unit boasts approximately 25 feet of prime frontage along Mercer Street between Prince and West Houston Street. Comprising 5,399 square feet across the ground floor, mezzanine, and lower level, the space was recently transformed by ownership into a dramatic flagship environment by removing the third floor to achieve soaring 24-foot ceilings and exposed red brick. The Unit sits at the base of a boutique, five-story luxury residential loft building.The asset is 100% leased to Magda Butrym, an elite global fashion house that recently signed a new 10-year lease. Since its founding in 2014, Magda Butrym has ascended to the forefront of the luxury womenswear market, with a significant presence in Paris, London, and New York. Rent is anticipated to commence on August 1st, 2026, featuring 3% annual escalations that provide a consistent hedge against inflation. The lease structure is highly favorable, with the tenant responsible for 100% real estate tax increases over the 2026/2027 base year, as well as all utilities and non-structural repairs.
Broker Details
Avison Young - US - NY - New York 212 230 5998
Broker Details
Avison Young - US - NY - New York 202 246 4123
Broker Details
Avison Young 202 602 1012
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $12,000,000 |
| Lot Size: | 5,399.00 Sq ft |
| Opportunity Zone: | No |
| Property Website | Click Here |
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