Manhattan Retail Condo Equity Investment

Polaris Investments has acquired in 2015 a condo space on Broome Street, SoHo, NYC, as an off-market deal to reposition as a retail condo. The team was able to bring in a new fitness tenant in 6 months and achieve a value add of double digit IRR for investors in a year. This retail condo is now fully stabilized and has been refinanced. Polaris Investments is currently considering an exit strategy as the retail space is under growing threat from e-commerce.

Asset successfully refinanced in 2017.