Nelson, Suarez and Shalom of Cushman & Wakefield broker $17.75 million retail condo sale

James Nelson, Cushman & Wakefield

Will Suarez, Cushman & Wakefield

David Shalom, Cushman & Wakefield

95 Chambers Street - Manhattan, NY

Manhattan, NY A retail condominium at 95 Chambers St. (also known as 77 Reade St.), located between Broadway and Church St. in the TriBeCa neighborhood, was sold in an all-cash transaction valued at $17.75 million.

The property consists of a ground floor and basement space totaling 12,638 s/f and features high 15’ ceilings. The unit sits within a newly renovated building that runs block through from Chambers St. to Reade St. The building boasts 79’ and 49’ of frontage, respectively. The unit is currently occupied by European Wax Center and Reade Street Prep. The seller was Rob Kaliner in partnership with HP Investors of San Diego. The buyer was HUBB NYC.

The unit is located less than two blocks from the Chambers St. and City Hall subway stations, providing access to multiple subway lines. It is also four blocks from the World Trade Center and WTC transportation hub. Neighboring tenants include Dunkin’ Donuts, Starbucks, LePain Quotidien, GNC, Smyth Hotel, and Sophie’s.

“At the time we purchased the property, there was significant leasing risks due to the extensive construction along Chambers Street, but our long term vision paid off nicely,” said Kaliner.

“The in-place income along with the lease up value presented an excellent opportunity for the buyer. We’re glad we had the privilege to satisfy the needs of both the seller and buyer,” said Cushman & Wakefield’s James Nelson who exclusively handled this deal with Will Suarez and David Shalom.

Cushman & Wakefield is a leading global real estate services firm with 43,000 employees in 60 countries that provide deep local and global insights that create significant value for occupiers and investors around the world.