Shorenstein Properties Acquires Fully Leased Office At 148 Lafayette Street In SoHo For $135M

148 Lafayette Street is an office asset located in the SoHo market of Manhattan, encompassing a total area of 155,000 square feet. The property is fully leased and has a sale price of $135,000,000, which translates to a price per square foot of $871.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $135,000,000
• Square Footage: 155,000
• Address: 148 Lafayette Street
• Market: SoHo, Manhattan
• Buyer: Brandon Shorenstein - Shorenstein Properties
• Seller: Rob Speyer - Tishman Speyer
• Brokers: Adam Spies & Avery Silverstein - Newmark

The deal represents a significant transaction between the buyer, Shorenstein Properties, and the seller, Tishman Speyer, with the property being sold for approximately 28% above the acquisition cost incurred by Tishman Speyer 16 months prior.