158 Wooster St New York, NY 10012

Property Details for 158 Wooster St

Year built

2003

Property size

3,958 SF

Property type

Retail properties

Description

This exceptional retail condominium, located at 158 Wooster Street in the heart of SoHo, New York City, presents a compelling investment opportunity. The 3,958 square foot space boasts a prominent 105-foot wraparound frontage (63 feet on Houston Street and 42 feet on Wooster Street), ensuring unparalleled visibility and foot traffic in this premier retail destination. Currently 100% occupied by Bulthaup, a renowned luxury kitchen and living space designer, under a lease guaranteeing rent through January 30, 2030, with annual 3% rent increases. The property features 14-foot ceilings on the ground floor and 10-foot ceilings on the lower level. Built in 2003 and renovated in 2019, this retail space is situated at the base of an eight-story luxury condominium building, benefiting from the exceptional demographics of the surrounding area. The M1-5M zoning permits retail use. The property's strategic location near major transportation hubs, including several subway stations (Prince Street, Broadway-Lafayette Street, Bleecker Street, and Spring Street), and its proximity to flagship stores of globally recognized brands like Bloomingdale's, Prada, Zara, Uniqlo, and T.J. Maxx, further enhances its value. Offered at $11,500,000 with a 6.00% cap rate, this investment presents a rare opportunity to acquire a high-performing asset in one of New York City's most desirable retail corridors. The property is a retail condominium with single tenancy. The lease commenced on January 31, 2010.