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New York & Tri-State  + Downtown New York  + Retail  | 

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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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).