Evergreen Peak LLC Acquires 16K SF Office Building In SoHo For $43.7M From JSRE Acquisitions
138 Spring Street
$43,700,000
$2,731/SF
Building Size
16,000 SF
Asset Type
Office
Closing
Jan 15, 2026
AI
138 Spring Street is an office asset located in the SoHo market. The property was sold for a transaction amount of $43,700,000. It encompasses 16,000 square feet of space, translating to a price per square foot of $2,731.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $43,700,000
- Address: 138 Spring Street
- Market: SoHo
- Square Footage: 16,000
- Price Per Square Foot: $2,731
- Buyer: Evergreen Peak LLC
- Seller: JSRE Acquisitions
JSRE Acquisitions, the seller, had previously purchased the property and completed the sale shortly after selling nearby Prince Street apartments for $18 million, also at a loss. Evergreen Peak LLC represents the buyer in this transaction.
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93