Brandon Shorenstein Of Shorenstein Properties Acquires Office Building From Rob Speyer For $132.5M
148 Lafayette Street
$132,500,000
$854/SF
Building Size
155,000 SF
Asset Type
Office
Closing
Oct 27, 2026
About this deal
AI
The property involved in this transaction is a fully leased office building located at 148 Lafayette Street, Soho, Manhattan. The asset encompasses 155,000 square feet and was sold for $132.5 million, equating to a price per square foot of $855.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $132,500,000
- Buyer: Brandon Shorenstein - Shorenstein Properties
- Seller: Rob Speyer - Tishman Speyer
- brokers: Adam Spies, Douglas Harmon, Adam Doneger, Marcella Fasulo, Avery Silverstein & Joshua King - Newmark
- Square Footage: 155,000
- Price per Square Foot: $855
The transaction involved multiple brokers from Newmark, including Adam Spies, Douglas Harmon, Adam Doneger, Marcella Fasulo, Avery Silverstein, and Joshua King, who facilitated the deal between the buyer, Shorenstein Properties, and the seller, Tishman Speyer. The acquisition was competitive, with Shorenstein Properties outbidding several institutional investors.
On the Map
$132,500,000
$854/SF
Office
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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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93