NYC retail sells at $1,090 a square foot

Foreign entity transfers ownership

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A limited liability company recently paid more than $12.3 million for a five-story retail building in the SoHo neighborhood of Manhattan, N.Y. The price per square foot at the five-story, 11,332-square-foot property totaled $1,090. A private family from the United Kingdom sold 111 Mercer St., which was vacant at the time of sale, to Mercer 111 LLC. According to a press statement, the building has received approval from the Landmarks Preservation Commission to build a 1,250-square-foot penthouse addition for a total of 12,582 square feet. ...