Klosed Properties and Kassin Sabbagh Realty buy NoHo retail cooperative leasehold for $2.5 million

Manhattan, NY Klosed Properties, in partnership with Kassin Sabbagh Realty, has acquired a retail cooperative leasehold at 659 Bdwy. in the NoHo Historic District for $2.5 million — below its previous $6 million trade — securing a vacant storefront with upside in one of the city’s most active retail corridors.

The 4,748 s/f space spans 1,938 s/f at grade, an 872 s/f mezzanine, and a 1,938 s/f lower level. Delivered vacant, the asset offers full flexibility for repositioning and lease-up.

The property features 40-ft. of glass frontage along Broadway, 17’5” ceiling heights, and is at the base of The Bleecker Court, a 243-unit residential cooperative. The location benefits from foot traffic, proximity to New York University, and co-tenancy with national retailers including Kith, Adidas, Equinox, and Starbucks. It is also steps from the B, D, F, M, 6, N, and R subway lines.

“659 Broadway is exactly the kind of opportunity we look for—a premier Manhattan location paired with a uniquely favorable cost structure and meaningful upside through leasing,” said Steven Kashanian, managing principal of Klosed Properties. “NoHo continues to be one of the city’s strongest retail submarkets, and we are confident in our ability to attract a best-in-class tenant and maximize long-term value.”