JLL has been retained on an exclusive basis to arrange for the sale of 25 West 14th Street, a 2-story retail building featuring an incredible 175’ of frontage and consisting of four commercial units totaling 61,884 rentable square feet. The property is located mid-block on the north side of West 14th Street between 5th and 6th Avenues, just steps away from Union Square. Built in 1929, the building is 100% occupied with 7.2 years of weighted average lease term. Considering the impact of the pandemic on many retail corridors, the 100% occupancy speaks not only to the quality of the tenancy, but the excellence of location.
- STABLE IN-PLACE CASHFLOW: The property is currently 100% occupied by 4 diverse retail tenants.
- 7.2 YEAR WEIGHTED AVERAGE LEASE TERM: 80% of the income in-place until the end of 2029.
- PROXIMITY TO BUSTLING UNION SQUARE PARK: The park serves as an oasis for residents, employees, and tourists featuring year round attractions such as the Union Square Greenmarket which consistently achieves over 250,000 customers per week.
- 175’ OF HIGHLY VISIBLE RETAIL FRONTAGE: In 2021 Union Square reached 91% of its pre-pandemic foot traffic throughout the corridor.
- EASY ACCESS THROUGHOUT MANHATTAN: The 14th Street / Union Square subway station consistently averages over 30 million riders annually, 4th most in NYC.
- SITUATED IN A RETAIL HUB THAT IS ON THE REBOUND: Since 2021, 46 New Businesses have either opened or been announced in the neighborhood, a testament to its continued popularity and resilience.