Fully Leased Union Square Retail Condo Trades for $1,661 per s/f

The fully leased Union Square retail condo at the base of the low-rise mixed-use building situated between Union Square West and 5th Avenue at 13 East 16th Street has traded at a 4.5 percent cap rate. Fetching a price of $1,661 per square foot, the undisclosed buyer that runs a computer business plans to collect rent over the next two years from longtime fashion tenant Agnes b, benefitting from the income while designing the new layout for his store that will open upon the existing lease expiring.

Source:    https://rew-online.com/union-square-retail-condo-sold-to-user/