First Atlantic pays $19.2M for Soho rental

TRD New York /
Nov.November 05, 2012 03:00 PM

A 15,000-square-foot residential rental property in Soho has traded hands for $19.15 million, according to public records filed with the city today. The trade comes just over a year after the seller purchased the property, located at 156 Prince Street between West Broadway and Thompson Street, for $7.8 million.

The seller is identified as Real Estate Equities Corporation, a development firm that’s Based On 48th Street. First Atlantic Real Estate, an entity tied to the private equity firm First Atlantic Capital, is the purchaser.

Neither party immediately responded to requests for comment.

Public records show that Real Estate Equities Corporation purchased the building from Prince 156 Associates, L.P. on Sept. 20, 2011.

As The Real Deal previously reported, this isn’t the first time that First Atlantic purchased a Real Estate Equities Corporation rental property. In August 2011, First Atlantic bought 344 West 14th Street for $23.25 million.

The building has six stories and 24 units. shows that a studio unit was on the market this past May for $3,400, a 750-square-foot one-bedroom this September for $4,950 and a two-bedroom last December for $4,600.

Related Articles

(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

State Senator Julia Salazar and Assemblymember Harvey Epstein (Credit: Getty Images)

Pols take aim at private equity with new plan to tax mezz debt

Treasury Department watchdog is investigating the Opportunity Zone program (Credit: iStock)

Opportunity Zone investigation won’t derail developer investment, experts say

Clockwise from top left: Jim Whelan, Larry Silverstein, Helena Durst, Teodora Zobel, Jonathan Mechanic and Laurinda Martins, John Catsimatidis, Gary Barnett, Mark Weprin, Donovan Richards, Bruce Mosler, Adelaide Polsinelli and David Schechtman (Photos by Anuja Shakya)

Reflection, resentment and some remorse: Real estate’s mood at the REBNY gala

45-10 19th Avenue in Long Island City (Credit: Google Maps)

Broadway Stages plans another LIC film studio

Firefighters work to extinguish a fire as a building burns after an explosion on 2nd Avenue in March 26, 2015 (Credit: Getty Images)

$24K in rent set in motion the fatal 2015 East Village blast. Prison now looms for the landlord and contractors