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Spear Street Capital Acquires Office & Retail Building In SoHo, Manhattan For $48.1M

Property Image
SOLD
$48,100,000

New York

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Office60,068 SF
Sold 10/12/2023
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Property Image
SOLD

Spear Street Capital Acquires Office & Retail Building In SoHo, Manhattan For $48.1M

30 Howard Street & 32 Howard Street

See Similar Deals
Office60,068 SF
Sold 10/12/2023
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$800
Total Square Footage:60,068 SF
Transaction Type:Sale

A mixed-use building located at 30 Howard Street in Manhattan's SoHo neighborhood has been sold for $48.1 million. The five-story property, previously owned by Intercontinental Real Estate Group, combines office and retail space.

Summary of transaction details

  • Property Type: Office & Retail
  • Transaction Amount: $48,100,000
  • Buyer: Rajiv Patel - Spear Street Capital
  • Seller: Thomas R. Taranto Jr - Intercontinental Real Estate and KPG Funds
  • Date: 10/12/2023
  • Address: 30-32 Howard Street
  • Market: Soho, Manhattan
  • Building Size: 30,230 sq ft
  • Price per Building Square Foot: $1,591
  • Lot Size: 30,034 sq ft
  • Price per Square Foot: $1,602

Rajiv Patel of Spear Street Capital has acquired the property, while Thomas R. Taranto Jr represented Intercontinental Real Estate and KPG Funds in the deal.

Players

RP
Spear Street Capital
Rajiv Patel
2 deals$273.1M volume
BUYER
KPG Funds
KPG Funds
SELLER

Details

SOLD
IMAGE: Thomas R. Taranto Jr DATE: 10/12/2023 ADDRESS: 30-32 Howard Street MARKET: Soho, Manhattan ASSET TYPE: Office & Retail BUYER: Rajiv Patel - Spear Street Capital SELLER: Thomas R. Taranto Jr - Intercontinental Real Estate and KPG Funds SALE PRICE: $48,100,000 BSF: 30,230 ~ PPBSF: $1,591 SF: 30,034 ~ PPSF: $1,602 NOTE: Spear Street Capital has acquired a five-story mixed-use building located at 30 Howard Street in Manhattan's SoHo neighborhood for $48.1 million. The property, previously owned by Intercontinental Real Estate Group, combines office and retail space.

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Debt Service Coverage Ratio (DSCR)

0.94x

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