SoHo mixed-use building sold for $48.5 million

New York -- RKF said it has arranged the sale of an 18,850-sq.-ft. mixed-use building located at 138 Spring St. in Manhattan's SoHo district.

The building encompasses 2,000 sq. ft. on the ground floor and 2,600 sq. ft. on the lower level, all occupied by high-end eyewear retailer ILORI. The balance consists of 14,250 sq. ft. of full-floor commercial loft space.

“The sale of 138 Spring Street … demonstrates that investor demand for buildings on this popular street, as well as SoHo at large, remains extremely high,” said Jeff Fishman of RKF.

The sale represents the latest in a series of SoHo property deals that RKF has arranged within the past two years as retail rents have climbed to historic levels.

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