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Soho

Soho
New York, NY 10002
Soho
Soho is one of Manhattans archetypal 20th century gentrification stories. As has been well documented, the neighborhood which stretches south of Houston Street to Canal Street and is bounded by West Broadway to the west and Lafayette Street to the east went from being a haven for artists in the 1960s and 1970s to one of the citys priciest neighborhoods, where loft spaces were particularly prized. At the end of 2004, The Real Deal reported that the average price of an apartment in Soho had reached $1.56 million, up from $417,000 a decade earlier. By 2006, the neighborhood, along with Tribeca, had the highest average rents in the city. Owing to zoning and landmark restrictions, there wasnt a great deal of new development in Soho during the condo boom of mid-2000s. One of the most notable and controversial projects was the 46-story Trump Soho, a condo-hotel where prices eclipsed $8.7 million as early as summer of 2011. The neighborhood has also become known for its many retail offerings: On Broadway, large retailers such as H&M and Aldo have increasingly occupied storefronts, while on side streets many high-end independent boutiques have set up shop. -GB
  • Address Soho
  • neighborhood Soho
  • borough Manhattan
Soho
02/12/16
AB & Sons, led by investors Isaac, Eli and Abraham Chetrit, secured a $125 million refinancing for 546-548 Broadway, best known as the Soho home...
Josh Caspi Daniel Hollander One Manhattan Square thumb
02/10/16
From the February issue: The Lower East Side is a long gritty neighborhood that’s undergoing a dramatic makeover.  Driving the transformation is the $1.1 billion...
675-sixthfbox
02/10/16
UPDATED, 4:20 p.m., Feb. 10: Global business news website Quartz inked a five-year lease for around 25,644 square feet of office space at 675 Sixth Avenue...
fieldbox
02/08/16
Nikki Field of Sotheby’s International Realty is set to step aside as the lead broker at Kushner Companies’ Puck Building, shortly after selling the building’s...
Dolce Gabbana Soho
02/04/16
Joseph Sitt’s Thor Equities is looking to sell a four-story Soho retail building fully leased to Dolce & Gabbana, in the hopes of scoring a...
Holiday Inn Express Times Square
02/04/16
Hersha Hospitality Trust sold a 70 percent majority interest in seven Manhattan hotels to Chinese investment firm Cindat Capital Management in deal worth $571.4 million,...
63 Crosby
02/01/16
In 2014, the owners of co-op units at a Soho apartment building decided to join forces to sell their homes. Now, L3 Capital, a Chicago-based...
Howard Lorber 2
02/01/16
Activist shareholder Gregory Cohen of Rambleside Holdings is looking to shake things up at Morgans Hotel Group, having sent a letter to the Morgans board...
chris hughesfbox
01/27/16
Maybe Facebook co-founder Chris Hughes can make like El Chapo and tunnel out of his problems? The New Republic owner (for now) just dropped $23.5...
office-tenants-feature
01/26/16
The top 25 office tenants in Manhattan take up more than 56 million square feet of space, and JPMorgan Chase occupies more of it than any...
25 Mercer pool 2
01/26/16
UPDATED, 1:05 p.m., Jan. 26: Two historic cast-iron Soho buildings will be transformed into one luxury condo building dubbed 25 Mercer. Developer Michael Kirchmann of GDS...
Herve Senequier Compass
01/25/16
What’s better than selling your apartment for a million more than you bought it? Also repping yourself on the deal. Compass’ Hervé Senequier did just that...
Screen-Shot-2016-01-23-at-10.52
01/23/16
The Trump Organization’s main office used to fit nicely on the 26th floor of Trump Tower in Midtown until three of Donald Sr.’s children came...
565 Broome ft
01/22/16
The developers of a new Renzo Piano-designed luxury condo tower in Soho have look east – Far East – to raise money for the project....
01/21/16
Current reader favorites: 1. Is the New York Wheel spinning out of control? 2. Barbara Corcoran talks success, family and sex 3. Developocalypse: The Day...
Larry Gluck 123 Lafayette Street thumb
01/20/16
Larry Gluck’s Stellar Management tripled its money at 123 Lafayette Street after just three years, selling the Soho office-and-retail building for $33.5 million. Stellar bought the six-story, 16,000-square-foot...
PuckPenthouse
01/20/16
In another sign of softening at the top end of luxury residential market, Kushner Companies is slashing the price of Penthouse 1 at its Puck...
Diane_von_Fürstenberg 496 Broadway Corey Von Furstenburg thumb
01/19/16
“Corey von Furstenberg” has had a lot of practice scamming people, according to his family. Tags: thor equities ...
139 Spring Street Marty Flanagan thumb
01/19/16
Invesco Real Estate paid top dollar – $112 million, or over $25,000 per square foot – for a Soho retail condominium long occupied by Chanel....
01/18/16
Current reader favorites: 1. Millionaire, show thyself: What does the Treasury’s move mean for NYC real estate? 2. Developocalypse: 421a expires 3. Thor suing alleged...
Eddie Sitt and 2 Herald Square
01/15/16
Eddie Sitt of the investment firm Sitt Asset Management isn’t letting up on claims that his brother Ralph Sitt squeezed him out of the family...
Sitt DVF thumb
01/15/16
An audacious scammer allegedly convinced Joe Sitt’s Thor Equities that he was related to fashion icon Diane von Furstenberg, allowing him to rent a $15,000-a-month...
01/15/16
Current reader favorites: 1. No more secrets: US to regulate use of LLCs in Manhattan, Miami 2. Has Soho lost its mojo? Retail vacancies on...
shoe-church-taiwan
01/14/16
1) You can now worship (your shoes?) at this new church in Taiwan. 2) The W Downtown wants you to “Live Like a BO$$.” 3)...
store-for-rent-266x150
01/14/16
From the January issue: At first glance, retail in Soho, one of New York’s biggest and trendiest shopping districts, looks to be as robust as...
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  • Event Sales
  • Building Name Holiday Inn Soho
  • Address 138 Lafayette Street
  • Neighborhood Soho
  • Borough Manhattan
  • Price $ 128,600,000
  • Publication Date 11/01/2007
  • Event Date 09/22/2007
  • Party 1 Highgate Holdings
  • Party 1 Brokerage Cushman & Wakefield
  • Party 2 The Procaccianti Group
notes
The Rhode Island-based real estate developer/hotelier acquired the hotel for $128.6 million. The seller, who had previously announced plans to convert the property into a boutique hotel, originally paid $42.5 million for it in 2005. The Procaccianti Group also purchased the 300-room Tudor Hotel at the United Nations for an undisclosed amount (see below).
  • Event Retail Leasing
  • Building Name Soho 25
  • Address 25 West Houston Street
  • Neighborhood Soho
  • Borough Manhattan
  • Square feet 2,100
  • Publication Date 11/01/2005
  • Event Date 09/22/2005
  • Party 1 Metropolitan Housing Partners
  • Party 1 Brokerage CBRE
  • Party 1 Broker David LaPierre
  • Party 2 I Truli
  • Party 2 Brokerage Lansco Corporation
  • Party 2 Broker Roger Eulau, Matt Cohen
notes
Wine retailer takes space.
  • Event Retail Leasing
  • Building Name SoHo Co-op building
  • Address 106 Spring Street
  • Neighborhood Soho
  • Borough Manhattan
  • Square feet 4,600
notes
First retail store outside of Vermont hq, Post reported
office-tenants-feature
01/26/16
The top 25 office tenants in Manhattan take up more than 56 million square feet of space, and JPMorgan Chase occupies more of it than any...
Market-Peak-feature
Hindsight is a precious thing, but foresight may be easier on the bottom line. In the wake of the 2008 financial crisis, it was easy...
feature-scorecard-image
09/22/15
From the September issue: Retail tenants avoided the city’s priciest stretches in the past six months, instead striking deals in up-and-coming areas. Meanwhile, office leasing...
Nearly a third of the properties in the New Jersey town of Deal are owned by New York City real estate families. Source: Deal Borough property records.
It’s not news in this industry that the tiny Jersey Shore hamlet of Deal is a magnet for Syrian Jewish real estate moguls. But just...
NYC Condo Filings 2015 large ft
07/21/15
Gary Barnett’s plans for 250 South Street may have gone through several revisions, but one thing is for sure – the Two Bridges/Chinatown development is the...
June-DOB-New
07/07/15
From affordable housing to skyscraper megaprojects, Queens nabbed the spotlight for the majority of large residential projects filed in June with the Department of Buildings....
top-agents-feature
In the high-stakes world of Manhattan real estate, agents tend to fall into two camps — those brokering sales in glitzy new condo buildings and...
office-sharing
In New York City’s shared-office world, there is WeWork and Regus, and then there is everybody else. That’s according to The Real Deal’s ranking this...
042_RisingStars_FINAL.indd
They’ve brokered billions of dollars in deals, broken records, and launched companies. And they’ve all done it all in a cutthroat and unforgiving industry that’s...
Screen Shot 2015-03-01 at 12.48.03 PM
For more than two decades, China’s most populated city, Shanghai, has experienced a building frenzy unlike any other: Developers have built office buildings in the...
manhattan-retail
With Upper Fifth Avenue snatching back from Hong Kong’s Causeway Bay the title as the world’s most expensive retail district, aggressive bets made in Manhattan...
Midtown Manhattan
Newmark Knight Grubb Frank’s Paul Ippolito recently spent time touring properties with a technology company on the hunt for Manhattan office space. He showed the...
038-040 Biggest dev site gambles se FINAL.indd
It’s no secret that prices for both luxury condos and development sites are surging in Manhattan. Land prices in Manhattan’s most popular neighborhoods have doubled...
064, 066 Highest grossing retail se FINAL.indd
The crush of tourists — often standing five deep at crosswalks in Times Square, Herald Square and on Fifth Avenue — may be frustrating to...
may-2014-cover-for-mag
The strength of the Manhattan luxury market is continuing to buoy some of the city’s largest and most established firms, The Real Deal’s annual ranking...
Top Residential Firms May 2013
Against the backdrop of Manhattan’s severe inventory shortage, the borough’s largest firms are working to leverage a new crop of condos and high prices in...
CMT-575
The recent sale of a hulking, three-block-long office building straddling the border of Soho and the Meatpacking District may provide relief to tenants priced out...
Biggest Deals
Click to enlarge Typically, investment sales deals are ranked by the sale price, but that emphasis hides the figure that real estate players truly care about...
chart-3-575
The robust growth of Internet companies in Manhattan has spurred a feeding frenzy of pitching, cold-calling and client poaching among brokers hoping to profit from...
Hotels
Roosevelt Hotel Hotel owners may award 2012 five stars. That’s because in the last year, Manhattan’s hospitality market has posted huge gains as tourists continued...
meatpacking
A view of the Meatpacking District, which, despite seeing an increase in foot traffic because of the High Line, has seen retail rents remain soft....
One WTC
Click to enlarge Despite the excitement and anticipation of finding a new office space, corporate relocations always come with risk. There is the chance of signing...
Canal Street
Shoppers jostle on a crowded Canal Street just west of Centre Street last month. Property owners are betting that Canal Street, long a mishmash of counterfeit...
Commercial Market Report
Midtown South has done the heavy lifting so far this year to bring down the availability rate in the Manhattan office market. Midtown and Downtown,...
Two big office deals — each for more than 1 million square feet — provided a statistical lift that ended an extremely slow three-month leasing...
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Cushman & Wakefield
Foreign brands made up 39 percent of retail stores in Soho, and along Fifth and Madison avenues. Soho tops the list as the most diverse...
ABS Partners
Brookfield Place’s reopening in the later half of March 2015 brought over 250,000 square feet of new retail space to Lower Manhattan. Notable retail leases signed in...
MNS
Rent prices in Manhattan were up 2.4 percent in January, compared to the previous month, according to a monthly report from MNS. The average cost for a...
REBNY-Retail-Spring-2014
“Manhattan’s retail leasing market remained vibrant through the first quarter of 2014. Strong interest in prime corridors and the repositioning of other corridors resulted in strong market conditions....
REBNY-Retail-Fall-2014-FB
“The leasing market for Manhattan retail space has maintained its strength, bolstered by strong demand and additional retail spaces coming on the market in new mixed use developments....
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