NEW YORK CITY- Between Greenwich and Hudson streets in Manhattan's TriBeCa neighborhood, a seven-story boutique office building at 177 Franklin St. has traded for $16.75 million. The property is the flagship store of Shinola, an American lifestyle brand.

The 80 percent-leased property includes a basement and penthouse featuring views of the Freedom Tower, the Woolworth Building and the Manhattan skyline to the north. The building's total rentable area is of 13,667 square feet and is zoned to allow commercial, residential, and community facility uses as of right. On Franklin Street, the building offers 25 feet of retail frontage.

"We are excited to announce the sale of this terrific property in the highly desirable TriBeCa neighborhood," said Principal and Head of Tri-State Investment Sales James Nelson in a prepared statement and who led the transaction. "The Shinola building at 177 Franklin Street benefits from its great location as well as state-of-the-art technology and architectural landmark details throughout. This deal is also another demonstration of our solid track record in this neighborhood and ability to find the right buyer."

Nearby the office property is the Canal and Church Street station, providing access to the A, C, and E trains. The J, N, Q, R, Z, and 6 subway lines are accessible at the Canal/ Broadway station. In addition, the property offers quick access to the West Side Highway and PATH trains as well as multiple bus options.

Instant Insights /

TriBeCa Office Building, Shinola Flagship Changes Hands

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