Klosed Properties and Namdar Realty Group acquires fully leased retail condo

New York, NY — Klosed Properties and Namdar Realty Group has acquired a fully leased retail condominium at 140 Essex Street in Manhattan’s Lower East Side for $7.55 million. The property was purchased from Taconic.

The 10,193-square-foot retail condominium is 100% occupied and features approximately 140 feet of frontage along Essex Street. The asset is located within Essex Crossing, a 2 million-square-foot mixed-use development completed between 2016 and 2019, encompassing more than 1,000 residential units and 300,000 square feet of office space.

Current tenants 375 Showroom and Everything’s Fine benefit from sustained foot traffic driven by the dense residential and office population within the development.

“Essex Crossing offers a rare combination of scale, density, and long-term fundamentals that are difficult to replicate in Manhattan,” said Steve Kashanian, Principal of Klosed Properties. “This acquisition reflects our focus on well-located retail with durable tenancy and built-in demand.”