The Real Deal New York

Sol Goldman’s estate buys Noho rental building for $22M

Solil paid nearly triple the price it last sold for in 2012
By Mark Maurer | July 11, 2017 11:30AM

From left: Icon’s Terrence Lowenberg, Solil’s Jane Goldman and 307 Mott Street (Credit: Getty Images and Google Maps)

Solil Management TRData LogoTINY picked up a landmarked five-story Noho rental building from Icon Realty Management for $22.1 million, according to sources and property records.

In an off-market deal, Solil closed July 5 on the purchase of the 38-unit, 16,000-square-foot property at 307-309 Mott Street, located between East Houston and Bleecker streets, records show. The price comes out to $1,381 per square foot.

The firm, which controls the assets of the late real estate mogul Sol Goldman, has been ramping up lately with a rare ground-up rental project in Tribeca and now this acquisition.

The building’s apartments are all one-bedrooms and mostly market-rate. The property has a total of 22,500 buildable square feet.

HPNY’s Sean Lefkovits

HPNY’s Sean Lefkovits and Ivan Hakimian were involved in the deal. Icon and HPNY declined to comment, and Solil’s Jane Goldman could not be immediately reached.

Icon, led by Terrence Lowenberg and Todd Cohen, have owned the building since 2012, when it paid $8.1 million.

Last year, amid protests from tenants over rent hikes, Icon commissioned a street-art mural at the building and others.

Solil last bought a 10,000-square-foot rental building at 151 West 48th Street for $13 million last year. The firm has a reputation for rarely selling assets.

Adam Pincus contributed reporting.

(To view more of Icon Realty Management’s commercial sales transactions, click here)