Brack Capital sells Union Square retail space for over $57M

January 24, 2011 03:04PM

15 Union Square West, and CBRE’s Bill Shanahan and Darcy StacomBrack Capital Real Estate USA has sold the retail portion of its residential development at 15 Union Square West in New York City to the State Teachers Retirement System of Ohio, or STRS, for $57.88 million, the company announced today. The retail space consists of four retail stores on the first, mezzanine and cellar floors of the building, totaling 14,494 square feet. Three of the spaces are currently leased — one to HSBC Bank, one to Lululemon Athletica, and another to Sketchers. The remaining space, comprising approximately 3,860 square feet on 15th Street, is currently available for rent. CB Richard Ellis’ Bill Shanahan and Darcy Stacom represented Brack Capital in the sale. “This sale indicates the strength of Union Square as one of the city’s best places to live, shop and work, and is a strong testament to 15 Union Square West’s iconic location and lasting value,” said Issac Hera, CEO of Brack Capital. TRD