Quintessential New York walk-up trades in Nolita
JLL Capital Markets arranges sale of 200 Mott St. to local investor
NEW YORK, Jan. 16, 2023 – JLL Capital Markets announced today it that it has completed the sale of 200 Mott Street, a seven story, mixed-use walk-up building located in Manhattan’s Nolita neighborhood.
JLL represented the seller, a long-time private owner, and the buyer, a private New York City investor. The sale price was $7,550,000.
200 Mott Street is a 14,000-square-foot, seven-story building configured as 26 apartments and one retail space occupied by the popular Italian restaurant, Epistrophy. The apartments consist of a mix of one and two-bedrooms.
The property stands in a dynamic location, bounded on the west by Soho, on the south by Little Italy, on the east by the Lower East Side and on the north by Noho. The neighborhood features some of the best bars, restaurants and nightlife New York City has to offer and is easily accessible via the B,D,F,M and 6 trains.
The JLL Capital Markets Investment Sales Advisory team was led by Managing Directors Hall Oster and Guthrie Garvin, Vice Presidents Teddy Galligan and Conrad Martin, Associate Braedon Gait and Analyst Bradford Burton.
“We continue to see strong demand for well-located multi-housing properties in NYC, especially those that have been maintained by long term ownership. 200 Mott is an excellent example of the type of opportunities buyers are seeking in today’s world,” said Oster.
“The buyer can add value through cosmetic renovation and apartment upgrades to meet strong demand for modern apartments in Nolita,” added Galligan.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.