PRESS RELEASE: Avison Young arranges sale of mixed-use building at 357 Bleecker Street

PRESS RELEASE: Avison Young arranges sale of mixed-use building at 357 Bleecker Street 20 Apr 2021

West Village, three-story building sells for $5.67 million

New York, NY – The Tri-State Investment Sales Group for Avison Young has arranged the $5.67 million sale of a three-story, mixed-use building located at 357 Bleecker Street on behalf of the property's ownership. The entirely vacant property is located in the Greenwich Village Historic District area within the West Village neighborhood of Manhattan, between West 10th Street and Charles Street.

An Avison Young team comprised of Principal and Head of Tri-State Investment Sales James Nelson, Directors David Shalom ans Mitchell Levine, and Senior Associate Alexandra Marolda represented the owner.

The property spans over 2,600 gross square feet and is comprised of one free market residential duplex over a ground floor retail unit. The residential space was owner occupied for over 25 years prior to sale. While the retail space was most recently occupied by Paul Smith but deliverd vacant at the time of sale. The building provides access to outdoor space and the retail component will benefit from 17 feet of frontage on Bleecker Street.

“While there is a healthy amount of vacancy on Bleecker Street we were able to find a restaurant user which was a perfect fit here. This sale tacks on to the uptick in activity on the Bleecker Street corridor" said Shalom. "357 Bleecker Street presented a unique investment opportunity considering both its location and mixed-use offering in one of Manhattan's most sought-after neighborhoods," noted Nelson.

The building is located in the heart of the historic West Village neighborhood and is surrounded by an abundance of amenities and emblematic locations ranging from Washington Square Park to several iconic bars and restaurants. 357 Bleecker Street is also close to multiple transportation alternatives including various subway lines, the PATH train, and the West Side Highway.

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

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