Suarez of Cushman & Wakefield completes $3.85 million sale

Manhattan, NY Cushman & Wakefield arranged the sale of a retail condominium at 51 Warren St., located between Church St. and West Broadway in the borough’s TriBeCa neighborhood. The property sold in an all-cash transaction valued at $3.85 million. The condominium contains 2,000 s/f on the ground floor and features an additional 2,500 s/f of lower level and sub-basement storage space. The property was delivered vacant and the sale price equates to $1,925 per s/f. The property benefits from tremendous foot traffic and an ample amount of public transportation, including the 4, 5, and 6 trains at City Hall and the 1, 2, and 3 trains along Chambers St. “The demand for quality retail from both investors and retailers in Lower Manhattan continues unabated,” said Cushman & Wakefield’s Will Suarez, who exclusively handled this transaction. “Annualized retail condominium sales volume in the Lower Manhattan market is projected to reach over 20 transactions with an aggregate value of $230 million for 2015,” said Suarez. The successful merger of Cushman & Wakefield and DTZ closed September 1, 2015. The firm now operates under the iconic Cushman & Wakefield brand and has a new visual identity and logo that position the firm for the future and reflect its trusted global legacy and wider history. The new Cushman & Wakefield is led by Chairman & Chief Executive Officer Brett White and Global President Tod Lickerman. The company is majority owned by an investor group led by TPG, PAG, and OTPP.