T
he iconic retail space at 15 Park Row, formerly home to J&R Music, is up for sale by owner Rachelle Friedman as a 200-year condominium leasehold. The second-floor office space, leased to creative agency DBOX until November 2026, offers stable annual rental revenue of approximately $700,000.

    The ground-floor storefronts, with 19,327 square feet and 90 feet of sidewalk frontage, have been vacant since J&R Music left in 2015. Friedman attributes her decision to sell the space to last month's interest rate cut, which has sparked renewed interest from retailers and investors.

    Friedman had previously discussed a potential deal with City Winery for the storefront space before COVID-19 hit, but no agreement was reached. A proposed partnership with a Todd English-branded restaurant group also fell through in 2022 due to investor backing issues.

    The commercial unit sits beneath 322 luxury rental apartments owned by Atlas Capital Group, which Friedman and her late husband sold for $142 million in 2021 while retaining control through a leaseback. The space is being offered for sale through Adirondack Capital Partners, with managing partner David Johnson describing it as "a piece of downtown New York retail history" that holds the legacy of J&R Music.