Vornado Realty Trust has purchased the 9,200-square-foot SoHo retail condo at 501 Broadway for $31 million.
The store runs through the block to 72 Mercer St. and lies between Spring and Broome streets.
The retail space, occupied by Necessary Clothing, has 3,800 square feet on the ground floor, a 484-square-foot mechanical mezzanine, a 4,800-square-foot selling basement and a 500-square-foot storage sub-basement.
The deal, which closed last Friday, works out to $3,600 per usable sales-floor foot.
Edan Cohen of Itzhaki Properties brought the off-market deal to Vornado, while colleague Amir Aframian represented the seller, a local real-estate investor.
“We had a relationship with [Vornado] and figured they’d be the perfect buyers,” said Cohen.
Vornado still owns other SoHo retail condos at 150-52 Spring St., 155 Spring and 478-486 Broadway after selling three others earlier this year.
In addition this year, it bought the retail space at 666 Fifth and cut deals to reposition the retail at both the Crowne Plaza hotel and the nearby Marriott Marquis. Vornado did not return calls for comment.
