Real Estate Weekly: 147 Duane Street Sold – $7.1 Million

Besen Partners completed the sale of 147 Duane Street in TriBeCa for $7,100,000. Ron Cohen and Jay Bernstein represented the seller, and Anna Ji of Kian Realty procured the purchaser. The property is a 5-story mixed use elevator building containing four free market apartments and 1,000 s/f of retail on the ground floor. The 6,200 s/f building is 25 ft. wide and has a usable basement. The apartments are all two bedrooms with keyed elevator access.

The retail is occupied by Glowbar, a skincare spa whose lease runs through 2026. The selling price equates to $1,145 per square foot and a 4.3% capitalization rate. The seller was represented by Eugene Getty of Kellner Herlihy Getty & Friedman LLP, and the purchaser was represented by Henry Fong of Law Office of Henry Lee M. Fong.

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