Tenants are Togas House of Textiles and Deciem
Madison Equities and Building and Land Technology have sold
their retail condo at 212 Fifth Avenue for $26.5 million. The mysterious buyers is tied to an entity managed by Joaquin Garcia-Quiros Rodriguez. The NoMad retail condo spans 4,620 SF, and is occupied by Togas House of Textiles and Deciem.
Be Smart: The Daily Beat has learned that the condo traded at a 4.6% cap rate. With new long term leases in place (10 to 15 years), the foreign buyer gets a well located asset with stable cash flow.
Location: The retail space offers over 200 feet of wraparound frontage, including two prime corners of Fifth Avenue and Broadway along West 26th Street.