Tenants are Moschino, Reiss and Luca Faloni
Adelaide Polsinelli, Vice Chairman of Compass, a publicly traded, technology-driven, real estate platform, has been hired to sell a package of, 13,000 +/-square feet, of retail condos, located at 386-388 West Broadway and 387 West Broadway, also known as 37 Wooster Street, in the heart of Soho’s prime fashion corridor.
The package consists of two separate ground floor retail condo units, containing three retailers. The package is currently leased with one tenant vacating next year.Both properties are located between Spring Street and Broome Street in the heart of SoHo’s world-famous retail district.
387 West Broadway is ablock through, condominium unit, divided into two distinct, individual storefronts on West Broadway and on Wooster Street. 387 West Broadway is leased to Reiss, a stylish, trendsetting apparel brand from the UK, whileItalian designer, Moschino, occupies the space at 37 Wooster Street.
386-388 West Broadway contains 50’ of frontage and is presently occupiedbyItalian menswear designer, Luca Faloni.
SoHo retail exemplifies the finest in New York City high street retail, with an emphasis on international brands. Soho is a sought-after location for local retailers and investors who can leverage SoHo’s pedestrian-friendly landscape and attractive storefronts to create unique value.
“Fortunately, we are finally seeing signs of a strong retail resurgence as more businesses are realizing that owning their real estate instead of leasing, is far more advantageous,” commented Polsinelli. “This is especially true today as real estate is one of the greatest hedges against inflation, with the added benefit of New York City’s unsurpassed appreciation, ” 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.
