Meridian Investment Sales Team to Sell Capital One Bank Retail Condominium in SoHo
Meridian Capital Group announced today that its Investment Sales Group has been exclusively retained to sell the retail condominium at 501 Broadway. The block-through unit, located between Spring Street and Broome Street, features 3,659 square feet of prime ground floor space, 4,694 square feet of finished lower level selling space and an additional 682 square feet of sub-lower level storage space. 501 Broadway is 100% leased to Capital One, N.A. with approximately 8.5 years of remaining lease term, providing an investor with a stable investment opportunity with strong rent bumps, backed by an investment grade credit tenant (BBB+/A1/A-) in a premier global retail location.
A Meridian Capital Investment Sales team of Helen Hwang, Karen Wiedenmann, Brian Szczapa, and John Charters are marketing the site on behalf of the ownership.
The property, completed in 2007, boasts a modern design in a historic SoHo location steps from new major flagships such as Nike, Zara and Sketchers. 501 Broadway also benefits from incredible pedestrian traffic along one of the busiest shopping corridors in the world. With direct access to demand drivers unique to the SoHo market, such as an affluent residential base, as well as upscale restaurants and boutiques, 501 Broadway generates the type of attention and foot traffic that tenants value.