Hauspurg, Schechtman, Lieberman, Jones and Meese of Eastern Consolidated collaborate for $17 million SoHo retail condo

A 8,354 s/f retail condominium in the borough's SoHo neighborhood at 57-63 Greene St., has just been purchased by Premier Equities for $17 million. Eastern Consolidated chairman and CEO Peter Hauspurg, executive managing director David Schechtman, Esq., senior director Lipa Lieberman and director Marion Jones, with director, financial services Gary Meese, represented the seller, locally-based investment fund Aion Partners in the sale for the 100% occupied retail condominium located between Spring and Broome Sts. The condo is currently divided into three spaces occupied by Cyrus Co. and Raul Carrasco, two home furnishing companies, and Bang & Olufsen, the global audio systems retailer. "This condo offering literally 'flew' out of the window, given its strong tenancy and prime location, with unparalleled foot traffic in arguably Manhattan's trendiest neighborhood and significant financial upside enabling the new owner to achieve higher lease rates as existing tenants are paying well below market rents," said Schechtman. 57-63 Greene St. is situated in the epicenter of SoHo, two blocks west of Broadway and it is surrounded by international retailers, boutiques, galleries, restaurants and cafés. The six-story 53,725 s/f loft building above the retail component, which contains 14 units, is scheduled for a condominium conversion. According to Lieberman, "A true off-market deal, this transaction quietly sold in a matter of weeks at nearly the full asking price. One reason is that SoHo is sizzling and retailers and investors are eager to have a presence there. Mark Mermel, Esq. represented the buyer, while Gerstein Strauss & Rinaldi LLP acted on behalf of the seller. Founded in 1981, Eastern Consolidated is one of the country's preeminent full-service real estate investment services firms, combining an unrivaled expertise in the greater New York marketplace with a worldwide roster of institutional and private investor clients. Over the years, it has been responsible for the acquisition, disposition and finance of all types of properties, including office and apartment buildings, lofts, factories, hotels, shopping centers, commercial and residential development sites, taxpayers, parking garages and lots, retail condominiums and air rights transfers.