Nelson, Suarez and Weinreb of Cushman & Wakefield retain to sell retail condominium

Manhattan, NY A Cushman & Wakefield team of James Nelson, Will Suarez and Carly Weinreb has been retained on an exclusive basis to sell a retail condominium at 20 Pine St. on behalf of Alto Investments and The Klein Group. The property is located at the base of a 409-unit, Armani designed condominium building on the corner of Pine and Nassau Sts. in the Financial District. Ownership is requesting proposals. The property contains approximately 30,057 s/f and offers a three-block, wraparound frontage of 450 ft. The unit features generous 30’ ceiling heights on the ground floor and is currently divided into four separate units. Each are leased to a high quality tenant on a long term basis namely FedEx, Café Arte, 18/8 Fine Men’s Salon and Bright Horizons, a publicly traded childcare provider. Preference will be given to a buyer who assumes the existing mortgage of $16 million. Nestled in a highly-trafficked area, the property benefits from close proximity to public common areas, offices, high-end shopping and dining options like Liberty Plaza, 28 Liberty, Federal Hall, New York Stock Exchange, The Capital Grille, Equinox and multiple corporate headquarters. “20 Pine St. is a rare opportunity to acquire a high-cash flowing, low maintenance, core retail asset in the heart of the Financial District,” said Nelson.