A corner loft building at 7-9 Harrison Street, located in the in the heart of TriBeCa, was sold in an all cash transaction valued at $20,000,000.
The seven-story elevatored building sits on a 50β x 100β lot and is approximately 33,400 square feet. The property is an IMD/ Loft Board building and was sold with four IMD tenants in place, three of which are located on the top floor. Currently, there are 24 units and a retail unit. The retail unit on the ground floor has approximately 13 foot ceilings while the upper floors have approximately 10 foot ceilings. The property benefits from its close proximity to great retailers like Issey Miyake, Calypso and American Apparel and well known restaurants, such as The Harrison, Flour Del Sol, Tribeca Grill and Nobu. The sale price equates to approximately $600 per square foot.
βThe property generated a great deal of interest among developers. Many of them were ready to pay an additional premium to the sales price if the building would be delivered vacant. As per the buyers, they plan to keep the building as a rental property,β said Massey Knakal Director of Sales Nick Petkoff.
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Neighborhoods: TriBeCa