New York, NY – October 24, 2018 – Cushman & Wakefield announced today that the firm has arranged the sale of 57 Grand Street, a four-story, mixed-use loft building located in SoHo. The final closing price was $8,625,000.
A Cushman & Wakefield brokerage team consisting of Robert Burton and Bobby Carrozzo led the marketing efforts on behalf of the seller, Granville Equities. The property was purchased by Lex Jay Realty Corp.
“57 Grand Street is a quintessential SoHo building nestled in a sought-after section of the neighborhood,” said Robert Burton of Cushman & Wakefield. “Due to our hyper-focused expertise in the downtown market, we were able systematically maximize the property’s exposure to achieve the highest possible price for a classic SoHo asset.”
The property is comprised of one ground floor restaurant and three floor-through loft spaces above. The ground floor space is leased until 2025 to Toad Hall, a local SoHo watering hole that is famous for its laid back atmosphere. The loft units above are all free market and occupied on annual leases.
Located on the south side of Grand Street between West Broadway and Wooster Street, 57 Grand Street benefits from the surrounding area’s vibrant retail, entertainment and residential options. The property is easily accessible via the Canal Street Subway Station.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.