Meridian Institutional Investment Sales Lists Prime Retail Condominium with Below Market Debt at 196 Orchard Street in Manhattan’s Lower East Side

Meridian Investment Sales’ Institutional Team, led by Helen Hwang, has been exclusively retained to market the retail condominium at 196 Orchard Street. This premier asset, located at the base of a newly constructed luxury residential building in the vibrant Lower East Side, offers over 60,000 SF of fully leased retail space with 260 feet of wraparound frontage on East Houston and Orchard Streets.

196 Orchard Street is fully occupied by national credit tenants—Marshalls, CVS, and Equinox—offering a weighted average lease term of over nine years and stable, predictable cash flow. With secure tenancy and strong in-place income, the property presents a compelling opportunity for long-term investors and 1031 exchange buyers. Additionally, the property features an assumable below-market mortgage with four and a half years remaining, providing attractive financing flexibility and the potential to achieve double-digit cash-on-cash returns from day one.

“This is an extraordinary opportunity to acquire a premier retail asset in an enduring location that provides strong current cash returns,” said Helen Hwang, Head of Meridian Capital Group’s Institutional Investment Sales team.

Adjacent to Katz’s Delicatessen, a Lower East Side landmark, the retail space boasts a highly visible all-glass storefront at the bustling intersection of East Houston and Orchard Streets, drawing steady pedestrian and vehicular traffic. The property is easily accessible by the F train, only one block away, and the J, Z, M, B, D and 6 trains within a few blocks. The Lower East Side, renowned for its eclectic blend of boutique shopping, fine dining, and vibrant nightlife, has become a premier destination for both locals and visitors alike.

The retail condominium encompasses three-stories above and two-stories below grade fully leased to nationally recognized e-commerce resistant tenants. Equinox, Manhattan’s premier luxury fitness club, occupies 30,000 SF on the second and third floors. Marshalls, owned by TJX Companies, provides customers with their treasure-hunting shopping experience across 20,000 SF. CVS, the trusted pharmacy and healthcare provider, provides essential neighborhood services within its 10,000 SF corner space.

As one of New York City’s strongest residential markets, the Lower East Side continues to see an increase in demand for retail, fitness, and lifestyle services that accommodate the neighborhood. The area has seen significant development, including Essex Crossing, which added over 1,000 new residential units and 300,000 SF of retail space to the area. With an average residential rent growth rate exceeding citywide benchmarks, the Lower East Side’s continued expansion further solidifies 196 Orchard Street as a cornerstone asset in a thriving urban retail environment.

About Meridian Capital Group:
Founded in 1991, Meridian Capital Group is America’s most active dealmaker and one of the nation’s leading commercial real estate finance, investment sales, and retail leasing advisors. Meridian represents many of the world’s leading real estate investors and developers, and the company’s expansive platform has specialized practices for a broad array of property types, including office, retail, multifamily, hotel, mixed-use, industrial, and healthcare and senior housing properties. Meridian is headquartered in New York City with offices in New Jersey, Illinois, Florida, and California. Learn more at http://www.meridiancapital.com.

Contact:
Helen Hwang
Senior Executive Managing Director
hhwang@meridiancapital.com
(212) 468-5930