Under the ownership of Tunnel Holdings LLC for the past 70 years, 351 Canal Street, a five-story, classic, pre-war, cast-iron loft building strategically positioned on the prime northeast corner of Wooster and Canal Streets, is on the market for sale through Eastern Consolidated. All offers for the property will be considered.
Eastern Consolidated Senior Director Peter Carillo together with Associate Director Alexander G. Erdos and Senior Financial Analyst Paul J. Nigido are coordinating the marketing effort for the sale of the 25,620 s/f property, which offers three retail spaces on the ground floor, four commercial offices on the second floor and ten residential units on floors three through five.
85 percent of the building’s tenants are either leasing on a month-to-month basis or have termination clauses in their leases, which automatically become effective upon the sale of the property.
