Zar Property NY acquires SoHo retail condominium for $9.3 million

Manhattan, NY Zar Property NY has finalized the off-market acquisition of the retail component at 47-49 Mercer St. in SoHo for $9.3 million. The retail condominium, located between Grand St. and Broome Street, consists of 3,500 s/f on the ground floor and 4,000 s/f in the lower level. Both levels are occupied by CoCoMat, showroom based out of Greece that has leased the space since late 2011.

There was no broker involved in the transaction and the seller, an entity named “DL Mercer” is based out of Canada and had owned the property for over 20 years.

Tags: Brokerage

Reprint

Previous Story Next Story

Investment Property Realty Group closes $2.65 million sale of 723 6th Ave. in Greenwood Heights

Brooklyn, NY Investment Property Realty Group (IPRG) closed the sale of 723 6th Ave., a mixed-use building located in the Greenwood Heights section of the city, for $2.65 million.

CM&B completes 15,000 s/f Activate Games NYC debut in Union Square

Investment Property Realty Group closes $2.175 million sale of 247 Leonard St.

IPRG closes $2.175m sale of 247 Leonard St.

GFP Real Estate continues leasing momentum at 322 Eighth Ave. with 9,952 s/f of transactions

GFP continues leasing momentum at 322 Eighth Ave.

Zimmet Law Group signs 5,476 s/f lease at GFP Real Estate’s 515 Madison Ave.

Zimmet Law signs 5,476 s/f lease at GFP’s 515 Madison Ave.

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Finance

Fitzgerald of Largo Capital arranges $3.1 million refinance of Aldi property in Bradenton, Fla.

Columns and Thought Leadership

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking