Mixed-use Soho buildings, family-owned for about a century, trade for $33M

TRD New York /
Nov.November 20, 2012 12:00 PM

Two mixed-use buildings at 69 and 71-73 Greene Street between Spring and Broome streets in Soho have traded hands for about $33 million, according to a press release from Highcap Group, which brokered the deal on behalf of the buyer and the seller. The deal closed on Nov. 15, said Christen Portelli, a Highcap managing principal, and Michael Ferrara, an investment sales associate, brokered the deal.

The properties were family owned for about a century, a Highcap release said. The release did not mention the seller, but according to public record, Robert Zeisel owned the adjacent buildings.

Together, the properties have 76 feet of frontage and total 33,000 gross square feet.

The property at 69 Greene measures 16,473 square feet, according to PropertyShark. Broken down, it contains 9,883 square feet of residential space, comprising four homes, and 3,295 square feet of retail space, leased by the furniture retailer BoConcept. Next door, 71-73 Greene Street has 16,477 square feet of space, according to PropertyShark: 6,577 square feet, comprising four residential units, 6,600 square feet of office space and 3,300 square feet of retail — home to Onassis, a fashion retailer.

Residential space includes a mix of free-market and rent-stabilized units. The transaction was finalized in the immediate aftermath of Hurricane Sandy.

The buyer — a local private investor, according to Hichcap — wishes to remain anonymous, the release stated. — Zachary Kussin


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