The subject property is a retail condominium located at 128 Mott Street. The property offers a total of 12,705 sf on the ground floor and 14,100 sf in the basement. The retail condo is currently leased out to the grocery store, New York Mart, which is one of the premier Chinese supermarkets in New York City. The store has 12 years remaining on their original lease with a ten year option. The lease is a triple net lease that contains 4% increases every other year and increases to market rent at option exercise. The property provides an investor with a great opportunity to acquire an asset with a strong and growing tenant containing generous rent increases.
Senior Advisor / Partner