The subject property is a retail condominium comprised of three separate units located in the heart of Chinatown at 11 East Broadway. The property is located at the intersection of East Broadway and Catharine Street, and offers a total of 16,831 sf including the basement. The retail condo is currently leased out to the bank, HSBC, which has recently executed a ten year lease with a ten year option for all three floors and basement space.
The lease is a triple net lease and contains annual CPI increases with a readjustment to market rate at the exercise of the option.The property provides an investor with a great opportunity to acquire an asset with a very stable tenant with annual increases.
Senior Advisor / Partner