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Deals & Dealmakers

Solarz brings another Soho property to market

Eastern Consolidated is marketing a mixed-use corner building at 21 Crosby Street aka 133 Grand Street in SoHo. The asking price is $18.5 million.

21 Crosby Street
21 Crosby Street

Exclusive agent Ron Solarz, executive managing director and principal in the Investment Sales Division, is marketing the property. Chris Matousek, director, financial services, is the analyst for the deal.

The 10,000 s/f corner building offers four stories plus a lower level; 105 feet of wraparound frontage; ground floor and lower retail space totaling over 2,800 s/f to be delivered vacant; three, floor-through loft apartments; and 2,100 s/f of unused development rights.

“The current ownership has invested a substantial amount of capital to completely reposition the retail portion of this SoHo property, which would be ideal either for a retailer’s flagship location or for multiple retail tenants,” Solarz said. “The ground floor and lower level retail space will be delivered vacant, allowing investors to capitalize on the rapidly appreciating retail rental rates in the neighborhood.”

Solarz added, “Floors two, three, and four are expansive, floor-through loft apartments with abundant light and air that also present tremendous upside potential.”

RON SOLARZ
RON SOLARZ

Eastern Consolidated has been busy in SoHo recently. Earlier this month, the firm’s brokers arranged the sale of all of the shares in a four-story, 20,600 s/f residential co-op at 61-63 Crosby Street for $42 million, or over $2,000 psf. Before that,  49 Greene Street , a six-story, mixed-use, elevator loft building with ground floor retail, traded for $31 million.

The property at 21 Crosby Street is located within the SoHo Cast Iron Historic District Extension, a block from Broadway with its abundance of high-end retail, and steps from luxury hotels including the NoMo SoHo Hotel and 11 Howard RFR Hotel.

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