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New York & Tri-State  + Distressed Assets  | 

Paceline Acquires Retail Condo in SoHo

An affiliate of Dallas-based Paceline Equity Partners acquired the retail cooperative space at 106 Spring St. in SoHo. The acquisition for an undisclosed sum occurred through a UCC auction.

Located at the corner of Spring and Mercer streets, 106 Spring offers 4,880 square feet of ground-floor space in a well-trafficked area of SoHo benefiting from both mass market and luxury retail shopping demand.

Saying that New York will again be “one of the world’s premier shopping destinations” despite pandemic-driven challenges, Paceline CEO Sam Loughlin called 106 Spring “a unique asset, poised to benefit from the broader economic recovery in New York City and an improving retail environment in the SoHo neighborhood specifically.

“Paceline has a patient view of the recovery timeline for the SoHo retail property market that will enable us to take a pragmatic approach to re-leasing and focus on identifying a high-quality long-term tenant,” he continued.

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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 also 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.

  • ◦Acquisition