According to several sources, Steven Elghanayan’s firm Epic is under contract to purchase 148 Lafayette Street from Property Group Partners. Neither firm would comment about the building, which is expected to sell for $130 million, or $855 per square foot.

148 Lafayette Street.

Home to retailers Lafayette 148 and the corporate U.S. offices of Dolce & Gabbana, the building is 150,496 square feet and was extensively renovated in 2007, the year that PGP acquired it. The PGP website lists over 7,535 square feet of retail space currently available.

If the deal goes through, the building will be added to a portfolio of other New York City Epic properties that includes 525 Park Avenue, 34 Leonard Street and 15 Little West 12^th Street.

CGaines@observer.com

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