November 5, 2019 Comments (0) Views: 282 Downtown New York, New York News

Avison Team Closes on Sale of NoHo Retail

Avison Young’s tri-state investment sales group arranged the sale of a 2,162-square-foot retail condominium at 351 Bowery in NoHo. The property, which features 43 feet of frontage along Bowery and a strong in-place national tenant in 7-Eleven, was sold for $4.6 million.

The team of Brent Glodowski and Angela Mulder represented the seller, an affiliate of HK Organization. John Feeney of The Boulder Group represented the undisclosed buyer.

“We used our expertise of the NoHo submarket along Bowery and deep relationships to surpass the seller’s expectations, selling the property for just $50,000 below asking price,” Glodowski said. “The buyer is equally pleased given the property’s remarkable location, the existing lease with a nationally-recognized tenant and the potential to raise below-market rents to create significant future upside.”

Built in 2009, the retail space sits at the base of a 15-story luxury residential condominium building.

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