Adelaide Polsinelli, Vice Chairman of Compass, a publicly traded, technology-driven, real estate platform, has been hired to sell a package of, 13,000 +/- square feet, of retail condos, located at 386-388 West Broadway and 387 West Broadway, also known as 37 Wooster Street, in the heart of Soho’s prime fashion corridor. The package consists of two separate ground floor retail condo units, containing three retailers.
The package is currently leased with one tenant vacating next year. Both properties are located between Spring Street and Broome Street in the heart of SoHo’s world-famous retail district.
387 West Broadway is a block through, condominium unit, divided into two distinct, individual storefronts on West Broadway and on Wooster Street. 387 West Broadway is leased to Reiss, a stylish, trendsetting apparel brand from the UK, while Italian designer, Moschino, occupies the space at 37 Wooster Street.
386-388 West Broadway contains 50’ of frontage and is presently occupied by Italian menswear designer, Luca Faloni.
SoHo retail exemplifies the finest in New York City high street retail, with an emphasis on
international brands. Soho is a sought-after location for local retailers and investors who can leverage SoHo’s pedestrian-friendly landscape and attractive storefronts to create unique value.
“Fortunately, we are finally seeing signs of a strong retail resurgence as more businesses are realizing that owning their real estate instead of leasing, is far more advantageous,” commented Polsinelli. “This is especially true today as real estate is one of the greatest hedges against inflation, with the added benefit of New York City’s unsurpassed appreciation, ” Polsinelli concluded.
