A prominent six-story mixed-use building located at 138 Spring Street, also known as 90 Wooster Street, in Manhattan’s vibrant SoHo neighborhood has been sold for $43.7 million. The buyer, Evergreen Peak LLC, a Manhattan-based developer, acquired the property, marking a significant transaction in one of New York City’s most sought-after commercial districts.
Key Takeaways
- A six-story mixed-use building in SoHo, NYC, has traded for $43.7 million.
- The buyer is Evergreen Peak LLC, a Manhattan developer.
- The seller was an affiliate of JSRE Acquisitions.
- The building features retail and office spaces, with notable tenants like Mackage and P. Johnson.
Property Details and Transaction
The historic building, dating back to the early 20th century and renovated in 1982, encompasses approximately 16,000 square feet. Situated at the bustling corner of Wooster and Spring streets, it currently houses a mix of retail and office tenants. Among the notable businesses occupying the space are the Canadian luxury outerwear brand Mackage, which established its flagship store there in 2021, and the menswear clothier P. Johnson.
Evergreen Peak LLC, operating from 136 Madison Avenue, was represented in the acquisition by Alex Riguardi, a director with JL Capital Markets in New York. The seller, an affiliate of JSRE Acquisitions, had originally purchased the property in 2013 for $48.5 million, indicating a slight decrease in value since its last sale.
SoHo Market Activity
The Spring Street corridor continues to be a highly attractive area for investors, evidenced by several recent acquisitions in the vicinity. This transaction follows Blackstone’s significant $45-million purchase of 113 Spring Street, underscoring the enduring appeal and investment potential of prime SoHo real estate.