A coveted retail asset is coming to market on the Upper West Side.
Adelaide Polsinelli, vice chair of the investment sales division at Compass, is marketing the ground floor retail condominium at 2864 Broadway for $32 million.
Also known as 545 West 111th Street, the space is NNN leased to Duane Reade, a BBB investment grade tenant. The available space is on the ground floor and basement of the 10-story, 122-unit, Rockfall Apartments, a pre-war residential condominium.
The retail space is currently 100 percent occupied by Duane Reade, the chain of pharmacy and convenience stores owned by Walgreens Boots Alliance.
“This desirable property is located close to the highly affluent Upper West Side neighborhood of Manhattan, and is one of five Duane Reade stores open for 24-hours, seven days per week,” said Polsinelli.
“It is also located steps away from Columbia University’s main campus, and is surrounded by CitiBank, Westside Market NYC, Chipotle, TD Bank, Starbucks, Chase Bank, Verizon Wireless and the New York Public Library.”