August 7, 2017
Zar Property NY paid $9.3 million for the entire retail component at 47-49 Mercer St. in Manhattan’s SoHo neighborhood. CoCoMat, a seller of high-end mattresses and linens, has leased the space since late 2011. CoCoMat is based in Greece, and has stores in 17 countries worldwide.
No brokers were involved in the off-market transaction. The seller, an entity named “DL MERCER,” is based out of Canada and had owned the property for over 20 years. Earlier this year, Zar Property acquired a 13 story office building on West 54th Street in Midtown for $83 million.
The retail condo totals 7,500 square feet of space, including 3,500 square feet on the ground floor and 4,000 on a lower level.
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