Mixed-Use SoHo Property with Vacant Retail Sells for $25M

JLL Capital Markets arranged the $25-million sale of 149 Spring St., an eight-story, 19,000-square-foot mixed-use residential and retail property located in SoHo. A JLL team including Michael Mazzara, Ethan Stanton, Brendan Maddigan, Steve Rutman, Guthrie Garvin and Hall Oster arranged the sale on behalf of New York City-based real estate development firm EMP Capital. Creed Equities, a private family-run investment firm based in New York City, was the buyer.

The ground floor features 2,254 square feet of vacant retail space, offering an opportunity to attract a world-recognized brand to one of Manhattan’s top retail corridors. Piombo, a sportswear brand owned by Italian apparel giant OVS, previously occupied the space.

149 Spring St. is situated on one of the nation’s most sought-after retail corridors occupied by luxury global brands such as Jacquemus, Gucci, Celine and Saint Laurent, along with trendy boutiques and international chains. The property is within walking distance of several subway stations.

Inside The Story

JLL's Mazzara

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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 GlobeSt.com 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).

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