New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Duane Reade on Columbia U. Campus Hits the Market
The Compass investment sales team of Adelaide Polsinelli and Trystan Polsinelli has been hired to market a triple net lease retail condominium on Columbia University’s campus at 2864 Broadway. The retail space is 100% occupied by Duane Reade on a long-term basis, guaranteed by parent company Walgreens.
Located at the corner of West 111th Street, the Duane Reade is one of a handful with 24-hour pharmacy service. It occupies the ground floor and basement of the 10-story, 122-unit Rockfall Apartments, a prewar residential condo.
“The low-maintenance, fully-occupied, corner retail condo is the ideal investment opportunity for any investor, especially one in a 1031 exchange,” noted Adelaide Polsinelli. “With its built-in customer base of Columbia University, and having a 24-hour pharmacy, this asset has a distinct, competitive advantage.”
Trystan Polsinelli added that the location is “steps away from all that the Upper West Side and Morningside Heights has to offer.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
