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Olmstead Properties Acquires Mixed-Use Asset From Blackstone And L3 Capital For $53M In Soho

Property Image
SOLD
$53,000,000
Meaghan Philbin
Brett Siegel
+ 6

New York

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Mixed-use32,400 SF
Sold
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Property Image
SOLD

Olmstead Properties Acquires Mixed-Use Asset From Blackstone And L3 Capital For $53M In Soho

61 63 Crosby Street

See Similar Deals
Mixed-use32,400 SF
Sold
Meaghan Philbin
Brett Siegel
+ 6
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1635
Total Square Footage:32400 SF
Transaction Type:Sale

The mixed-use asset located at 61-63 Crosby Street in Soho, Manhattan was sold for $53,000,000. The property encompasses a total area of 32,400 square feet, equating to a price per square foot of $1,635.

Summary of transaction details:

The transaction involved multiple key players from Newmark, with notable representatives including Adam Spies, Brett Siegel, and Douglas Harmon among others. The brokers played a crucial role in facilitating the deal between the buyer and the seller, ensuring all aspects of the transaction were addressed efficiently.

Players

Adam Doneger
185 deals$50B volume(516) 317-7837
BROKER

Avery Silverstein
Newmark
60 deals$14B volume(212) 850-5432
BROKER

Brett Siegel
Newmark
75 deals$6.4B volume(212) 372-0798
BROKER

Adam Spies
Newmark
256 deals$71.4B volume(212) 841-7500
BROKER

Douglas (Doug) Harmon
Newmark
126 deals$47.5B volume
BROKER

Joshua King
Newmark
111 deals$31.8B volume(212) 850-5427
BROKER

Marcella Fasulo
Newmark
90 deals$25.7B volume
BROKER

Meaghan Philbin
Newmark
11 deals$1.9B volume
BROKER

Benjamin (Ben) Lushing
Newmark
17 deals$2.8B volume
BROKER

Newmark
BROKERAGE

Details

SOLD
IMAGE: Adam Spies, Douglas Harmon, Adam Doneger, Brett Siegel, Benjamin Lushing, Marcella Fasulo, Joshua King, Avery Silverstein & Meaghan Philbin DATE: 1/8/2026 ADDRESS: 61-63 Crosby Street MARKET: Soho, Manhattan ASSET TYPE: Mixed-use BUYER: Olmstead Properties SELLER: Blackstone (@Blackstone) & L3 Capital BROKERS: Adam Spies, Brett Siegel (@BSieges), Adam Doneger (@ADoneger), Douglas Harmon, Joshua King (@joshadamking), Marcella Fasulo (@MMFasulo), Avery Silverstein (@Avery.Morgan810), Benjamin (Ben) Lushing (@BenLushing) & Meaghan Philbin - Newmark (@Newmark) SALE PRICE: $53,000,000 SF: 32,400 ~ PPSF: $1,635

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

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Cap Rate

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Cash Flow (Annual)-$188,297.80
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