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SoHo Mixed-Use Trades for First Time in 75 Years
Lee & Associates NYC completed the sale of a 7,500-square-foot mixed-use corner building at 500 Broome St. in SoHo. The buyer, Eastlington Limited, purchased the site, which dates from the 19th Century, for $9,550,000.
The Lee & Associates NYC team of Ben Tapper, Stephen Tarter and Sean Slattery represented the seller, Food Center Realty Corp., in the transaction. Paul Popkin, senior managing director at Lee & Associates NYC, helped source the buyer, which was then represented in-house.
“It’s been over 75 years since this property traded hands and it could be another 75 years before we see this corner trade again,” said Tapper. “They aren’t making more corners in SoHo. Over the long term, it has been and will be a great return on investment.”
Popkin added, “Contrary to reports of the demise of SoHo’s commercial real estate, the neighborhood and our city will return strong.”
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- ◦Sale/Acquisition
