Wednesday, October 18, 2017

Retail sits vacant in nearly $1B of newly bought Soho real estate

Image result for soho retail vacancyInvestors who shelled out more than $940 million to buy retail-focused buildings and condominium and cooperative units in Soho over the past six years are today sitting with their spaces vacant, according to a recent analysis by The Real Deal.

Real estate players including 60 Guilders and Ponte Gadea paid top dollar for store space and are now working to fill it as the retail market shifts underfoot. In total, investors bought 40 properties in the neighborhood that as of last month had more than 163,000 square feet of retail space sitting vacant, representing nearly one-third of all the vacant space in the district. . . more

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