Halloween comes early this year as the famous Village Halloween store hits the market….
Adelaide Polsinelli, Vice Chairman of Compass, a publically traded, technology-driven, real estate platform, has been hired to market for sale, an exceptional ground floor, block-through, retail condo at the base of 808 Broadway, also known as 104-110 Fourth Avenue, at the crossroads of Greenwich Village and the East Village, two of Manhattan’s most vibrant neighborhoods. The property, with entrances on both Avenues, is currently occupied by the New York Costume Halloween Adventure. Family owned and operated for over 65 years, this is the largest designer, manufacturer and distributor of Halloween costumes and accessories in the world.
The property is located midblock, on Broadway between 11thand 12thStreets and enjoys exceptional proximity to Washington Square Park, Union Square Park, the Greenmarket and the Union Square transit hub. Situated in the center of NYU’s campus as well as Beth Israel Medical Center and the new tech hub at 1 Union Square, the options are limitless.
The property consists of a total of 25,000 +/- square feet, of which, 18,000 square feet is legal retail selling space. 10,000 square feet is ground floor retail which is duplexed with a spacious 8,000 square foot lower level. There is an additional 7,000 square feet of sub- basement space. The retail unit can be delivered vacant for a user.
“This exceptional retail condo offers generous 80’ frontage on Fourth Avenue and 40’ frontage on Broadway, making it ideal for multi-tenanted use as well as any combination of owner-user possibilities,” Polsinelli commented. “The expansive size along with 16-foot-high ceilings, makes this a unique opportunity for not only retail, but also medical, educational and office uses,” Polsinelli continued.
“As the retail landscape evolves, I am seeing a surge in owner users stepping up to purchase real estate for their own businesses,” continued Polsinelli.
The building was constructed in 1887 with notable Gothic Revival detail, by James Renwick Jr., who also designed the adjacent Grace Church and iconic St. Patrick’s Cathedral. The present seven-story, block-through, Gothic revival style building was converted to residences in 1981 and renamed ‘The Renwick,’ in honor of its architect.
While the pandemic dealt a major setback to New York City, the shift in retail shopping patterns to e-commerce, added a double blow to an already struggling retail market. Fortunately, we are finally seeing signs of a strong resurgence as more retailers committing to long term positions. This boost in activity is just what Manhattan needed to remind retailers and investors that we are in a “once in a cycle” opportunity.
“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 $1.5 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 $1.95 Billion in revenue, and $77 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.
