For Sale
$11,500,000

158 Wooster StNew York, NY 10012

Luxury Retail, High-Traffic Area, Strong Lease

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional retail condominium, located at 158 Wooster Street in the heart of SoHo, New York City, presents a compelling investment opportunity. The 3,958 square foot space boasts a prominent 105-foot wraparound frontage (63 feet on Houston Street and 42 feet on Wooster Street), ensuring unparalleled visibility and foot traffic in this premier retail destination. Currently 100% occupied by Bulthaup, a renowned luxury kitchen and living space designer, under a lease guaranteeing rent through January 30, 2030, with annual 3% rent increases. The property features 14-foot ceilings on the ground floor and 10-foot ceilings on the lower level. Built in 2003 and renovated in 2019, this retail space is situated at the base of an eight-story luxury condominium building, benefiting from the exceptional demographics of the surrounding area. The M1-5M zoning permits retail use. The property's strategic location near major transportation hubs, including several subway stations (Prince Street, Broadway-Lafayette Street, Bleecker Street, and Spring Street), and its proximity to flagship stores of globally recognized brands like Bloomingdale's, Prada, Zara, Uniqlo, and T.J. Maxx, further enhances its value. Offered at $11,500,000 with a 6.00% cap rate, this investment presents a rare opportunity to acquire a high-performing asset in one of New York City's most desirable retail corridors. The property is a retail condominium with single tenancy. The lease commenced on January 31, 2010.

Highlights

  • Prime location with high value.
  • Strong lease with corporate guaranty, expiring January 31, 2030, with 3% annual rent increases.
  • Excellent market demographics.
  • 105-foot wraparound frontage (63 feet on Houston, 42 feet on Wooster).
  • High ceilings: 14 feet on the ground floor and 10 feet in the lower level.

Property Details for 158 Wooster St

Property type
Retail properties
Square Feet
3,958 SF
Year Built/Renovated
2003/2019

Location Insight

City
New York
County
New York
State
New York
Latitude
40.7262342
Longitude
-73.9989622
158 Wooster St, New York, New York

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158 Wooster St
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