Madison Capital buys Soho building for $206M
Invesco Real Estate had bought building in 2012 for $140 million
A group of investors led by Madison Capital has purchased an office building in Soho for about $206 million, according to property records and sources familiar with the deal.
Invesco Real Estate sold the building at 130 Prince Street in a deal brokered by Evan Layne and Brett Siegel of Eastdil Secured. The property spans 88,000 square feet and stands five stories tall.
Madison will manage the investment for a group of owners that includes a wealthy individual from the tech industry, sources said.
Invesco and Madison did not immediately respond to requests for comment.
Invesco purchased the building in 2012 for $140 million and redeveloped the entire property. The fast-pay company Square had been considering a 70,000-square-foot lease in the building earlier this year. The status of negotiations weren’t clear.