January 30, 2020 Comments Off on East Coast Fund Divests Downtown 7-Eleven Views: 288 Downtown New York, New York News

East Coast Fund Divests Downtown 7-Eleven

The Boulder Group completed the sale of a single-tenant, net-leased 7-Eleven retail condominium property at 351 Bowery, along the border of NoHo and the East Village. The 2,156-square-foot property sold for $6,915,000.

Randy Blankstein and John Feeney of The Boulder Group represented the seller, an East Coast-based real estate fund. The buyer was a Northeast-based investor.

The property is located in close proximity to New York University and its student population of 51,000, as well as the Broadway-Lafayette and Astor Place subway stations. 7-Eleven, which signed a lease extension in 2019, also draws on a customer base of 286,722 people living within a mile of the property.

“Investors were attracted to this investment due to the strength of 7-Eleven’s credit and the strong underlying real estate,” said Feeney.

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