738 Broadway
New York, NY 10003 NoHo

• Unit Size: 3,877 SF
• Condo Use: Retail
• Price: $5,000,000 USD
• Sale Type: Investment
• Price/SF: $1,289.66 USD

Description

Two-level 3,877 square foot retail condominium unit at 738 Broadway in NoHo (the “Property”). This condominium includes 2,202 SF on the ground level and 1675 SF on the second floor. The Property is situated at the base of the historic five-story Broadway McKenna building, which was converted to luxury residential condominiums in 2014. The storefront’s location along the east side of Broadway between Astor Place and Waverly Place enjoys truly exceptional visibility and foot traffic, with an entrance into the Eighth Street-NYU subway station immediately outside the Property. Strong year-round retail demand is delivered by NoHo’s wealthy residents, tourists, TAMI office workers, and NYU students.
The Property is beautifully appointed, with a private glassed-in elevator, polished concrete floors, 15-foot ground floor ceiling heights, and 18-foot ceilings in the selling basement. This offering presents a unique opportunity to acquire one of NoHo’s most attractive and well-located retail assets at a level of capital investment that is manageable for both investors and owner/occupiers.

Sale Notes

EXECUTIVE SUMMARY:
Marcus & Millichap is pleased to present the exclusive offering of the single tenant retail condominium at 738 Broadway (the “Property”), a prime approximately 3,850 square foot retail asset located along the Broadway corridor in NoHo, directly across from New York University.

The Property is leased to Caffeena Coffee House under a recently executed 10-year net lease, providing stable long-term cash flow with built-in annual rent increases. The tenant is making a significant capital investment into the space, reinforcing long-term commitment to the location.

Positioned in one of Manhattan’s most heavily trafficked retail corridors, the Property benefits from exceptional visibility, strong frontage, and continuous pedestrian traffic driven by NYU’s student population, surrounding residential density, and national retailers.