148 Lafayette Office Sale Closes at $132.5M in SoHo
Updated: 1 day ago
Shorenstein has acquired 148 Lafayette Street in SoHo from Tishman Speyer for $132.5 million, according to the seller’s October 27 announcement. Commercial Observer also reported the completed transaction.
The 148 Lafayette office sale concerns an operating office and retail property at Lafayette and Howard streets. In its October 27 release, Shorenstein reported the property fully leased, with a weighted average remaining lease term of approximately nine years.
148 Lafayette Office Sale: Key Facts
Item | Reported Details |
Purchase price | $132.5 million |
Buyer / Seller | Shorenstein / Tishman Speyer |
Leasing status | Reported fully leased |
Weighted average remaining lease term | Approximately nine years |
Exploring New York real estate-backed EB-5 opportunities? Connect with the iCross × ARCFE team to discuss available projects and the information to review.
Leases and Institutional Capital in SoHo
The property’s tenants include General Catalyst, Graphite and Charlotte Tilbury. From ARCFE’s perspective, established business tenants and a completed institutional acquisition provide a concrete example of demand for income-producing space in SoHo.
Our recent coverage of 568 Broadway refinancing offers another SoHo capital-markets example. The two transactions illustrate different ways institutions participate in leased commercial assets: acquisition and refinancing.
EB-5 Investor Insight
When reviewing the income assumptions for an EB-5 project, look at who leases the space and how long the leases run. These details help connect the local market story with the property’s projected operating income.
ARCFE View
Founded by iCross Capital, a New York City real estate credit institution with nearly 20 years of experience, ARCFE examines lease commitments, actual rent collections and debt-service coverage together when assessing an income-producing property.
Sources
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Disclaimer: Articles published under the "NYC Real Estate" category are curated from third-party media sources for informational purposes only. ARCFE does not claim ownership of the original content, nor does it guarantee the accuracy, completeness, or timeliness of the information presented. The views and opinions expressed in these articles are those of the original authors and do not necessarily reflect the position of ARCFE. Nothing contained herein constitutes investment, legal, or tax advice. Readers are encouraged to consult with qualified professionals before making any investment decisions.
