Klosed Properties close on sale of 2,000 s/f retail condominium

Klosed Properties has closed on the sale of a 2,000 s/f retail condominium at 176 Mulberry St., located in the mixed-use neighborhood of Little Italy. The property's location attracts heavy pedestrian traffic from tourist and city locals looking for some of the best of the cities eateries on "Restaurant Row" coupled with an old world style feel of the architecture in the neighborhood. "We are very excited about the considerable amount of revenue growth that will be unlocked due to the gentrification of the surrounding neighborhood and the current below market leases expiring gradually over the coming years," said Steven Kashanian, principal at Klosed Properties. Klosed was represented by Roxanne Betesh of Sinvin Real Estate. This closing marks their seventh retail acquisition of the year and sixth retail condominium in their portfolio. The space is currently being marketed for lease by Alex Picken and Danielle Lacko of Picken Real Estate.