Joel Schreiber Sells Soho Retail Property On Mercer Street For $21M

41 & 43 Mercer Street, located in the Soho market, was recently sold in a closed property transaction. The retail asset, spanning 9,065 square feet, was purchased for a total price of $21,000,000, resulting in a price per square foot of $2,317. The building's total area measures 18,590 square feet, leading to a price per buildable square foot of $1,130.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $21,000,000
• Address: 41 & 43 Mercer Street
• Market: Soho
• Square Footage: 9,065
• Price per Square Foot: $2,317
• Total Building Area: 18,590 square feet
• Price per Buildable Square Foot: $1,130
• Seller: Joel Schreiber
• Broker: Peter Weisman - Sinvin Real Estate

The deal was brokered by Peter Weisman from Sinvin Real Estate. As the representative for the seller, Joel Schreiber, Weisman successfully navigated negotiations, which involved tenant recapture. Notably, Weisman has brokered off-market deals for Soho properties totaling $42,750,000 over the past year. If you are interested in the market, you can contact Peter Weisman at 212-300-3077 or [email protected].