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New York City REIT scoops up retail condo at 196 Orchard Street

196 Orchard Street

New York City REIT has acquired the retail condo at 196 Orchard Street from Michael Miller’s Real Estate Equities Corp. + Magnum for $88.75 million. The unit spans more than 60,000 SF across the basement, ground, second, and third floors. 

  • Worth Noting: The condo is 100 percent leased to CVS, Marshalls, and Equinox according to TRD. It sits right next to the iconic Katz’s Deli on the Lower East Side. 
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