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That's Mixed-Use?

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Illustrating just how far the race to label everything "mixed-use" has gone, yesterday's New York Times, highlighted a recent transaction of the $11.5 million acquisition of a "mixed-use" site in New York's Lower East Side neighborhood.

The image, scanned here, reveals a Manhattan tenement with street-level retail. Is that all it takes to be mixed-use?

mixed-use?

In fairness, the buyers, Triangle West, may see some upside in the site. According to the Times, the deal includes three two-story buildings and two-five story buildings, but also includes 20,000 square feet of additional air rights.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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