Adelaide Polsinelli, Vice Chairman of Compass, a technology-driven real estate platform, has been hired to market an exceptionally located, ground floor, retail co-op property at the base of 15 East 16th Street, steps from Union Square, in the heart of the Flatiron District neighborhood in Manhattan.
The property is located midblock, on 16th Street, between 5th Avenue and Union Square West, directly across the street from Union Square Park and all the excitement of the neighborhood. Steps from one of the busiest transit hubs, the 14th Street Union Square Station serves over 35 million riders annually.
The opportunity consists of 3,700 square feet of dramatic, light-flooded ground floor retail which is duplexed with an easily accessible mezzanine and spacious 2,000 square foot lower level. The retail unit will be delivered vacant for a user.
This superbly renovated retail co-op, with 30-feet of generous glass, frontage and 20 foot high ceilings, has been used as a luxury home furnishings showroom and can be delivered vacant, making it ideal for an owner-user or investor. With a full floor to ceiling glass storefront, the space presents users with a distinctive canvass for a retailer interested in occupying the space to showcase their brand.
Historically, this area was best known for its concentration of some of the city’s premiere boutique shopping and dining, keeping the neighborhood unique and exciting. The area around Union Square has quickly become home to some of the top tech firms.
With the retail and sales landscape evolving, more owner users are stepping up as buyers to purchase real estate for their own business. The steady confidence and investment of capital, continues to elevate Union Square and the Flatiron District, as a solid retail destination.
“Having sold several retail properties in this area over the past decade, I can say without question that this location will, once again, be a strong long-term investment,” noted Polsinelli, “This is a testament to the street’s intrinsic value through all phases of the market cycle.”
“As we turn the corner on Covid, more businesses will be placing bets on real estate”, added Polsinelli. “What better time to buy, than at the bottom of a ten year cycle?” Polsinelli concluded.
About Polsinelli:
With over 30 years of experience, Polsinelli has sold over 1,500 properties, valued at over $40 billion in every asset class including multifamily, retail, office, development, note sales, air rights, partnership interests, unsold shares and retail condos. She has sold over $1.4 billion in the last few years, spanning NYC, Miami, Boston, Chicago and most of the northeast corridor. Prior to joining Compass, she was a Principal at the now defunct, Eastern Consolidated.
About Compass: is a technology-driven real estate platform dedicated to creating a seamless and intelligent buying, selling, and leasing experience. Combining the country’s top agents, proprietary market insights, and integrated mobile and web technologies, Compass is developing the future of real estate decision-making. With $1 Billion in revenue, and $35 Billion in sales volume, Compass has 238 offices with locations in 122 markets, including New York City, Washington DC, Boston, Miami, Los Angeles, Santa Barbara, the Hamptons, and Aspen. New funding fuels international expansion, enhanced technology developments for agents and consumers. Compass was founded by Ori Allon, who sold two previous companies to Google and Twitter, and business partner Robert Reffkin, a former White House Fellow and Chief of Staff to Goldman Sachs’ President & COO.
