First Atlantic pays $19.2M for Soho rental

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. Streeteasy.com 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.


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