SoHo retail condo hits the market

Real Estate Weekly,  Dec 5, 2007  

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Mareus & Millichap has retained the exclusive listing for a 21,055 s/f retail condominium property in Sollo.

Ross Mezzo, director of the Mezzo Office Group of Marcus & Millichap, together with Stephen Matri, al senior associate in the Manhattan office of Marcus & Millichap, and Sean Cohane, an investment speeialist also in the firm's Manhattan office, are representing the seller.

"This property represents an exeellent opportunity for an investor to acquire a retail condominium property with tremendous upside potential in the lower Manhattan market," said Matri.

"Despite the retail slowdown other cities are ex periencing, New York City's retail market remains extremely robust. This asset will continue to generate significant revenue growth if kept as a retail property, or it can be successfully converted into a luxury residential asset."

Located at 1-5 and 9 Bond St., the 21,055 s/f property includes ground-floor and basement space, which are leased by Blick Art Materials and Bond No. 9. The property at 1-5 Bond Street eurrently consists of 16,055 s/f. The 9 Bond Street property encompasses 5,000 s/f.

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