Ralph Trionfo: Broker
I was hired by a national developer who converted a 12-story mixed-use loft building to high-end condominiums located just off 5th Avenue in the Chelsea section of New York City. After a detailed market analysis of the retail stores, this rare passive investment was in front of my personal list of qualified buyers. This unit is an occupied retail store consisting of 1,764 Square Feet. The buyer is a local investor who realized the value of retail space at this location in prime Manhattan, NYC. The stable income and tremendous rental upside to re-tenant the space at market rents when the current lease expires was very compelling. Ralph Trionfo represented both the buyer and seller in this transaction.