170 Mercer Street retail property Acquired by Flagg Family Capital | Real Estate Services M&A Deal

Flagg Family Capital has completed the acquisition of 170 Mercer Street retail property, a real estate development asset in New York, for $12M. Flagg Family Capital acquisitions focus on Manhattan commercial retail space, where the firm secured a 10-year lease for a designer fashion tenant at the Soho address. The 170 Mercer Street retail property acquisition supports real estate services M&A objectives by combining renovated storefront buildout with long-term income in a prime Mercer Street corridor. This other acquisition is a family office acquisition with a $10M–$25M deal size range, and rent is set to begin Aug. 1, 2026, with 3% annual escalations and tenant responsibility for tax increases, utilities, and non-structural repairs.