Klosed Properties, in partnership with Namdar Realty Group, has acquired a prime retail property located at 446 West 14th St. in Manhattan’s Meatpacking District for $23.518 million.
The 22,000-square-foot retail asset represents a strategic portfolio addition for the joint venture and is anchored by a strong tenant profile that provides stable in-place cash flow. Klosed Properties and Namdar Realty Group plan to hold the asset long term, citing the strength of the location, the quality of tenancy and the enduring appeal of the neighborhood.
“This acquisition aligns with our long-term investment strategy of targeting well-located retail assets with durable cash flow in premier Manhattan neighborhoods,” said Steve Kachanian of Klosed Properties. “The Meatpacking District continues to demonstrate strong fundamentals, and we see sustained value in assets that combine location, tenancy, and long-term upside.”
The buyer was represented by Avison Young, with James Nelson and Brent Glodowski leading the transaction.
