
KPG Plans High-End Office, Retail in South SoHo
K Property Group has purchased 446 Broadway, a five-story circa 1915 commercial building in SoHo, in a $46.7-million deal brokered by Marcus & Millichap’s Henri Kessler, Nelson Lee, Matt Fotis and Robert Aaron. KPG plans a high-end renovation for the currently vacant property, resulting in approximately 26,000 square feet of office and 10,750 square feet of retail.
“This is a premium office and retail location in New York’s hippest neighborhood, and the trendy retail destination of Howard and Grand Streets,” said Gregory Kraut, managing partner of KPG. “Everything we’ve planned for the building is in line with the new look and feel of the area.”
KPG will market the space to a variety of potential tenants. “If you know the market, you know that SoHo has been trending south and east from a tenancy perspective,” said Kraut. “This location has become one of the most desirable areas in lower SoHo.”
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