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Blackstone Scoops Up SoHo Retail for $200M
Blackstone will pay $200 million for a quartet of retail properties in SoHo, according to published reports. The seller is Maryland-based ASB Real Estate Investments, which paid $204 million over a span of four years starting in 2012 to acquire the properties.
The portfolio totals 131,247 square feet. It includes the following properties:
- 61 Crosby St. – 32,400 square feet – office/retail: Sister, Bower RE, Comcast major tenants
- 72-76 Greene St. – 45,455 square feet – retail: Patagonia, Amiri, Carbon Five major tenants
- 415 W Broadway – 41,170 square feet – office/retail: Pvolve, SDNY, Everland major tenants
- 465 Broadway – 12,232 square feet – retail: Ganni, Dermalogica major tenants.
A Newmark team of Adam Spies, Adam Doneger, Josh King, Doug Harmon, Marcella Fasulo and Avery Silverstein arranged the sale. Reportedly it’s the biggest Manhattan retail deal by an investor in more than three years.
- ◦Sale/Acquisition
