Blackstone And L3 Capital Acquire Mixed-Use Property From Morgan Stanley In SoHo For $45M

The asset involved in this transaction is a mixed-use property located at 113 Spring Street in the SoHo market of Manhattan. The sale was completed for a price of $45,000,000, encompassing a total square footage of 21,000, which equates to a price per square foot of $2,142.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $45,000,000
• Address: 113 Spring Street
• Market: SoHo, Manhattan
• Square Footage: 21,000
• Price per Square Foot: $2,142
• Buyer: Blackstone & L3 Capital
• Seller: Morgan Stanley
• Brokers: Adam Spies, Adam Doneger, Brett Siegel, Joshua King, Marcella Fasulo, Avery Silverstein, Benjamin Lushing & Felton Hatcher - Newmark

The transaction showcases a notable collaboration between the buyers, Blackstone and L3 Capital, and the seller, Morgan Stanley. The brokers representing the deal included a comprehensive team from Newmark, highlighting the extensive involvement of key professionals such as Adam Spies and Brett Siegel throughout the transaction process.