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

Soho Resi Trades in Off-Market Deal

Avison Young’s Tri-State Investment Sales group arranged the sale of 198 Prince St., a 5,000-square-foot, four-unit boutique residential property in Soho. The property, which had been under long-term ownership by an estate, sold for $4.5 million to an undisclosed investor.

An Avison Young team, led by Senior Director Brandon Polakoff, represented the seller in the negotiations.

“The 198 Prince St. property is situated in one of New York City’s most desirable residential neighborhoods,” said Polakoff. “We quickly identified the ideal buyer for this value-add asset on behalf of our client, and Avison Young was able to strike an off-market deal that was beneficial for both sides.”

The neighborhood is convenient to several mass transit choices, including the A, C and E trains at the Spring Street station, in addition to the 1, 2, 3, N and R trains as well as uptown, downtown and crosstown bus options.

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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).

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