Purchased in March of 2014 63 Spring Street is a prime SOHO corner. JTRE was attracted to the property as it was being delivered fully vacant at closing, which gives JTRE the opportunity to re-tenant the building. Currently Baked By Melissa occupies a portion of the ground floor at a record price of $4,500 PSF, In addition to Brodo, the Bone Broth company led by James Beard award winning chef Marco Canora. L`Occitane operates the corner space as its NYC Flagship. All the upper floors are leased as high-end residential units. To add to the rent, roll the property has long term leases with Sprint Nextel for a Cell Tower and CBS Outdoor Media. Prior to securing the three commercials Tenants + 4 Residential units, the property went through an extensive multimillion-dollar renovation.
The Property: Gr- 5th Floor: 1,100 square feet (5,500 sf total) / 80 feet of frontage on Spring & Lafayette