Located in the heart of Tribeca, 22 Ericsson Place offers a rare investment opportunity with two contiguous retail condo units spanning a combined 6,024 square feet. This fully leased property generates a net income of $532,417 annually, with a cap rate exceeding 6%, making it an exceptional choice for a 1031 exchange. Priced at $7.5 million, this offering includes a long-term lease with a highly successful educational tenant, The Portfolio School, a well-established nursery school serving the community for over 25 years.

The property features a desirable Tribeca location, easily accessible via multiple subway lines. It boasts 13-foot, 7-inch ceilings, providing an airy, open atmosphere suitable for a variety of commercial uses. The tenant is responsible for many charges, adding to the property’s appeal as a low-maintenance investment with secure, predictable income through 2033.

With excellent proximity to the affluent Tribeca area and a stable, high-earning tenant in place, this condo unit is positioned as a lucrative investment. The newly reduced price further enhances its attractiveness, presenting investors with a unique chance to secure a valuable asset in one of Manhattan’s most vibrant neighborhoods.