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
About this deal
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