Bond Street retail condo hits market for $13M

Property is home to menswear store Billy Reid

New York /
Jan.January 03, 2014 03:18 PM

A Bond Street corner retail condominium housing designer menswear store Billy Reid has hit the market for $13 million, listing broker Jerome Benayoun, founder of investment company Black Diamond Advisory Group, told The Real Deal.

The 4,622-square-foot space, at 54 Bond Street, is located on the ground floor of a luxury condo project built by developer Adam Gordon. The white, cast-iron building, on the corner of the Bowery, was previously the site of the Bouwerie Lane Theatre.

Gordon sold the retail condo to a foreign investment partnership for $5.5 million in 2010. The partnership is now looking to offload the property since its principals have different priorities moving forward, according to Benayoun.

The partnership, known as YHD Bowery Commercial LLC, could not be reached for comment.

It was rumored last year that luxury fashion retailer Intermix had signed on to lease the condo, but those rumors were quickly quashed. Indeed, Billy Reid’s lease does not expire until 2018. Intermix later signed on for another location nearby, at 332 Bowery.

The condo is comprised of two retail spaces separated by the lobby of the building. Each has a dedicated entrance on both Bowery and Bond Street. Billy Reid occupies 1,024 square feet of ground floor space and 1,049 square feet on the lower level.

Meanwhile, Bowery retail has been heating up. In one recent high-profile transaction, David Edelstein’s Tristar Capital paid $15.75 million for the 11,000-square-foot retail condominium at VE Equities condo development 250 Bowery last year. Prior to the sale, the retailer slated for the location, Athropologie, backed out of the reported deal to lease the space.


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Madonna and The Weeknd with the Hidden Hills home (Getty, Redfin)
Madonna heads for the Hills; she’ll stay more than The Weeknd
Madonna heads for the Hills; she’ll stay more than The Weeknd
The housing market needs 3.8 million single-family homes to meet current demand (iStock)
US needs 4M homes to meet demand from buyers
US needs 4M homes to meet demand from buyers
Photo illustration of Brookfield Property Partners’ Brian Kingston (Brookfield, iStock)
Struggling hotel company handing Brookfield the keys
Struggling hotel company handing Brookfield the keys
Ian Bruce Eichner and his unit
Eichner sells his Continuum South Beach penthouse for $35M
Eichner sells his Continuum South Beach penthouse for $35M
New York State Senator Michael Gianaris (Getty, iStock)
New York deals a blow to Opportunity Zones program
New York deals a blow to Opportunity Zones program
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...