JLL Capital Markets announced today that it has been engaged by MCP Bleecker LLC to exclusively market for sale an eight-story, 32,781-square-foot mixed-use property at 159 Bleecker St. in New York City’s Greenwich Village neighborhood. The property is on the market at $40 million.
Located at the center of historic Greenwich Village, 159 Bleecker St. is a mixed-use building consisting of 20 luxury, free-market residential apartments; four office units; one ground-floor retail unit and 50 feet of frontage. The Soho Center, a counseling and clinical treatment center, occupies the second floor and mezzanine; North Six Productions, a marketing agency, occupies the retail space. Upgraded amenities include private terraces; an elevator; a renovated laundry room; state-of-the art fitness center; part-time doorman; and landscaped, furnished rooftop decks.
Conveniently positioned at the nexus of SoHo, NoHo, and the West Village, 159 Bleecker St. offers unparalleled access to Manhattan’s most popular live-work-play neighborhoods, offering world-class retail, restaurant, nightlife and entertainment options. The property provides seamless and direct transportation across Manhattan and the outer boroughs, with convenient access to A, B, C, D, E, F, L, M, Q, R and 1, 2, 3, 4, 5, 6 subway lines
The JLL Capital Markets team representing the seller is led by Senior Managing Director Brendan Maddigan; Managing Directors Guthrie Garvin, Clint Olsen and Hall Oster; Vice Presidents Teddy Galligan and Patrick Madigan; Associate Connor McCullough; and Analyst Stephen Godnick.
“159 Bleecker St. is a dynamic property in a peerless location,” Maddigan said. “From SoHo’s world-famous retail corridor, to the abundant cafes and restaurants of Greenwich Village, the property’s positioning and amenities create a highly attractive asset with an in-place NOI of approximately $1.7 million, offering significant cash flow, contractual rent increases and substantial upside.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors an occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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