Klosed Properties, in partnership with Kassin Sabbagh Realty, has acquired a prime retail cooperative leasehold at 659 Broadway in Manhattan’s NoHo Historic District for $2.5 million — well below its previous $6 million trade — securing a vacant storefront with significant upside in one of the city’s most active retail corridors.
The 4,748-square-foot space spans 1,938 square feet at grade, an 872-square-foot mezzanine and a 1,938-square-foot lower level. Delivered vacant, the asset offers full flexibility for repositioning and lease-up.
The property features 40 feet of glass frontage along Broadway and 17’5″ ceiling heights, and sits at the base of The Bleecker Court, a 243-unit residential cooperative. The location benefits from strong foot traffic, proximity to New York University and co-tenancy with national retailers including Kith, Adidas, Equinox, and Starbucks.
“659 Broadway is exactly the kind of opportunity we look for — a premier Manhattan location paired with a uniquely favorable cost structure and meaningful upside through leasing,” said Steven Kashanian, managing principal of Klosed Properties. “NoHo continues to be one of the city’s strongest retail submarkets, and we are confident in our ability to attract a best-in-class tenant and maximize long-term value.”
