Soho’s retail-leasing boom has spilled over to the investment-sale market. As ground-floor rents rose to an average $1,000 per square foot — and up to $1,800 as Ferrari is said to be paying to launch its “lifestyle boutique” at 92 Prince Street – sale values for retail properties in the landmarked, cast-iron district have also skyrocketed.
Blackstone recently paid $197 million for the four locations totaled 131,000 square feet – Manhattan’s largest retail play purchase since 2021.
Rendering of 115 Spring Street. SL Green Realty
Now, SL Green hopes to cash in on the frenzy by offering for sale its retail condominium at 115 Spring St. – a building that’s home to condo apartments upstairs, but with 5,100 square feet of precious, two-level storefront space. SLG, the city’s largest commercial landlord, has owned it since 2014, when it bought…
