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113 Spring Street

Updated Feb 4, 2026

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

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

113 Spring Street

$45,000,000

$2,142/SF

Building Size

21,000 SF

Asset Type

Mixed-use

Closing

Jan 14, 2026

About this deal

AI

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:

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.

On the Map

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$45,000,000

$2,142/SF

Mixed-use

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Players

Adam Doneger

Newmark

Broker

$54.8B

vol

199 deals

Broker
Avery Silverstein
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Avery Silverstein

Newmark

Broker

$15.1B

vol

66 deals

Broker
Newmark
NewmarkBrokerage
Blackstone
BlackstoneBuyer

Morgan Stanley

Morgan Stanley

Seller

$509.7M

vol

5 deals

Seller
Bilt advertisement

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $2.1K per square foot on a published $45M for 21,000 square feet (2026).

Visit Benjamin (Ben) Lushing to view all their deals.

Browse New York mixed use sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.35%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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